Open Text Lowers Expectations

Enterprise Content Management vendor Open Text yesterday revised earnings expectations, citing difficulties closing deals in the quarter.

Earnings per share for the quarter is expected to be in the range of $0.03 to $0.06 on an adjusted basis, with revenue in the $84 million to $86 million rage.

“Our first-quarter results were impacted by a number of varying-sized deals that did not close during the quarter,” said Open Text chief executive Tom Jenkins in a statement. “While we are disappointed in our first quarter results, we see no material change to the ECM environment, and our guidance for the fiscal 2005 year is unchanged.”

Analysts were expecting earnings per share of 11 cents on revenue of $89.4 million.

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