OpenText Reports Fourth Quarter and Fiscal Year 2015 Financial Results

 

(1)

Adjustment relates to the exclusion of share based compensation expense from our Non-GAAP-based operating expenses as this expense is excluded from our internal analysis of operating results.

(2)

Adjustment relates to the exclusion of amortization expense from our Non-GAAP-based operating expenses as the timing and frequency of amortization expense is dependent on our acquisitions and is hence excluded from our internal analysis of operating results.

(3)

GAAP-based and Non-GAAP-based gross profit stated in dollars, and gross margin stated as a percentage of revenue.

(4)

Adjustment relates to the exclusion of Special charges (recoveries) from our Non-GAAP-based operating expenses as Special charges are generally incurred in the periods following the relevant acquisitions and are not indicative or related to continuing operations and are therefore excluded from our internal analysis of operating results.

(5)

GAAP-based and Non-GAAP-based income from operations stated in dollars, and operating margin stated as a percentage of revenue.

(6)

Adjustment relates to the exclusion of Other income (expense) from our Non-GAAP-based operating expenses as Other income (expense) relates primarily to the transactional impact of foreign exchange and is generally not indicative or related to continuing operations and is therefore excluded from our internal analysis of operating results.

(7)

Adjustment relates to differences between the GAAP-based tax recovery rate of approximately 1% and a non-GAAP-based tax rate of 18%; these rate differences are due to the income tax effects of expenses that are excluded for the purpose of calculating non-GAAP-based adjusted net income. Such excluded expenses include amortization, share-based compensation, special charges and other income (expense), net. Also excluded are tax expense items unrelated to current period income such as changes in reserves for tax uncertainties and valuation allowance reserves, tax arising on internal reorganizations, and "book to return" adjustments for tax return filings and tax assessments (in total "adjusted expenses"). In arriving at our non-GAAP-based tax rate of 18%, we analyzed the individual adjusted expenses and took into consideration the impact of statutory tax rates from local jurisdictions incurring the expense.

(8)

Reconciliation of Non-GAAP-based adjusted net income to GAAP-based net income:

 


Three Months Ended March 31, 2015



Per share diluted

Non-GAAP-based net income, attributable to OpenText

$

80,608


$

0.66


Less:



Amortization

50,386


0.41


Share-based compensation

6,562


0.05


Special charges (recoveries)

5,622


0.05


Other (income) expense, net

9,550


0.08


GAAP-based provision for (recovery of) income taxes

(309)



Non-GAAP based provision for income taxes

(17,813)


(0.15)


GAAP-based net income, attributable to OpenText

$

26,610


$

0.22


 

Reconciliation of selected GAAP-based measures to Non GAAP-based measures for the three months ended June 30, 2014.

(In thousands except for per share amounts)


Three Months Ended June 30, 2014


GAAP-based

Measures

GAAP-based Measures

% of Revenue

Adjustments

Note

Non-GAAP-based

Measures

Non-GAAP-based Measures

% of Revenue

Cost of revenues:







Cloud services and subscriptions

$

57,838



$

(197)


(1)

$

57,641



Customer support

24,196



(207)


(1)

23,989



Professional service and other

49,025



(112)


(1)

48,913



Amortization of acquired technology-based intangible assets

18,205



(18,205)


(2)



GAAP-based gross profit and gross margin (%) /
Non-GAAP-based gross profit and gross margin (%)

341,262


69.1

%

18,721


(3)

359,983


72.9

%

Operating expenses







Research and development

47,502



(450)


(1)

47,052



Sales and marketing

101,240



(1,112)


(1)

100,128



General and administrative

41,413



(2,121)


(1)

39,292



Amortization of acquired customer-based intangible assets

26,635



(26,635)


(2)



Special charges (recoveries)

5,413



(5,413)


(4)



GAAP-based income from operations and operating margin (%) / Non-GAAP-based income from operations and operating margin (%)

107,705


21.8

%

54,452


(5)

162,157


32.8

%

Other income (expense), net

1,103



(1,103)


(6)



Provision for (recovery of) income taxes

9,885



12,785


(7)

22,670



GAAP-based net income / Non-GAAP-based net income, attributable to OpenText

88,111



40,564


(8)

128,675



GAAP-based earnings per share / Non GAAP-based earnings per share-diluted, attributable to OpenText

$

0.72



$

0.33


(8)

$

1.05




« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17  Next Page »



Review Article Be the first to review this article

Harris

Featured Video
Jobs
Senior Account Manager, Utilities for RAMTeCH Software Solutions, Inc. at Stillwater, Minnesota
Vice President, GIS Business Unit for RAMTeCH Software Solutions, Inc. at Stillwater, Minnesota
GIS Analyst for Institute for Children and Poverty at New York, California
GIS ANALYST for Cobb County Government at Marietta, California
GIS Engineer III for Nebraska State Government at Lincoln|, Nebraska
BIM / REVIT Senior Structural Modeler for McNamara Salvia at New York, California
Upcoming Events
Eye On Earth Symposium 2018 at Mina A’Salam Hotel Dubai United Arab Emirates - Oct 22 - 24, 2018
SGEM Florence 2018, Palazzo Borghese at Palazzo Borghese, Via Ghibellina 110, 50122 Florence, Italy Florence Florence Italy - Oct 23 - 26, 2018
Esri Malaysia User Conference 2018 at Kuala Lumpur Convention Centre Kuala Lumpur Malaysia - Oct 25, 2018
GEO Week 2018 at Kyoto International Conference Center (ICC Kyoto) Kyoto Japan - Oct 29 - 2, 2018
Teledyne Optech
Teledyne:



Internet Business Systems © 2018 Internet Business Systems, Inc.
25 North 14th Steet, Suite 710, San Jose, CA 95112
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation TechJobsCafe - Technical Jobs and Resumes  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise