Open Text Reports Record Profitability
Open Text Corporation, a well-known ECM player, announced unaudited financial results for its fourth quarter and fiscal year ended June 30, 2008. Total revenue for Q4 is US$ 200.3 million, up 14% compared to the same period in the prior fiscal year. License revenue is up 15%, rising to US$ 68.2 million, versus Q4 of the previous fiscal year. Adjusted net income is up 25%. Total revenue for fiscal year 2008 was US$ 725.5 million, up 22% from a year ago. License revenue for this fiscal year is up 20% and adjusted net income is a whopping 44% increase over the same time period last year. With such strong financial results, Open Text is now counting about 46,000 customers worldwide. The big family includes U.S. Air Force, Alte Leipziger, bioMérieux, Nortel Networks, BMW and Dow Chemical. From Hummingbird acquisition (along with RedDot) in 2006, Open Text just kept on expanding by adding other units to its superpower. Most recently, we told you about Open Text’s acquisition of a hosted business applications provider eMotion LLC from Corbis Corporation. This was shortly after yet another big move to strengthen Open Text’s Enterprise 2.0 value proposition, when the company announced a number of enhancements to its range of Web 2.0 solutions, including blogs, wikis and forums. If you thought all of the above was not good enough, how about this little tidbit of information? Open Text was rated "Strong Positive" in Gartner's 2008 MarketScope for Records Management, the highest possible rating that Gartner doesn’t give out on a whim. Open Text can really afford to rest on its laurels now... Or, it can surprise us with something new.