Q4 GAAP EPS $0.89, vs Street view $0.86
(In U.S. dollars unless noted)
TORONTO (Reuters) - Open Text's quarterly
profit rose sharply on strong revenue growth and cost controls,
the Canadian business software firm said on Wednesday.
Net income rose to $51.5 million in the fourth quarter,
ended June 30, from $19.5 million a year earlier. That equated
to earnings per share of 89 cents, compared with analyst
forecasts for 86 cents, according to Thomson Reuters I/B/E/S.
Revenue climbed 18 percent to $240 million from $203.4
million, with licenses bringing in $68.5 million of that.
The Waterloo, Ontario-based company has the second largest
share of the market for enterprise content management after IBM
, and partners with tech infrastructure vendors
SAP , Microsoft and Oracle.
Open Text shares closed up 36 Canadian cents at C$38.41 in
Toronto on Wednesday, but were well off their year high of
C$51.92. The results were released after markets closed.
RBC Capital Markets downgraded the stock to "neutral" from
"outperform" earlier on Wednesday, citing increased competition
and broader economic uncertainty.
(Reporting by Alastair Sharp; editing by Rob Wilson)