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Open Text Reports Fourth Quarter and Year-End 2007 Financial Results; Integration of Hummingbird Contributes to Strong Results.

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M2 PRESSWIRE-31 August 2007-Open Text Corporation: Open Text Reports Fourth Quarter and Year-End 2007 Financial Results; Integration of Hummingbird Contributes to Strong Results(C)1994-2007 M2 COMMUNICATIONS LTD

RDATE:31082007

Waterloo, ON -- Open Text Corporation (NASDAQ:OTEX) (TSX:OTC), a leading provider of Enterprise Content Management (ECM) software, today announced unaudited financial results for its fourth quarter and fiscal year ended June 30, 2007. (1)

Total revenue for the fourth quarter was $175.2 million, compared to $105.2 million for the same period in the prior fiscal year. License revenue in the fourth quarter was $59.2 million, compared to $32.0 million in the fourth quarter of the prior fiscal year. License revenues grew 38% from $43.0 million in the previous quarter ended March 31, 2007.

Adjusted net income in the quarter was $26.6 million or $0.52 per share on a diluted basis, compared to $15.4 million or $0.31 per share on a diluted basis for the same period in the prior fiscal year. Net income in accordance with U.S. generally accepted accounting principles ("US GAAP") was $8.2 million or $0.16 per share on a diluted basis, compared to $7.8 million or $0.16 per share on a diluted basis for the same period in the prior fiscal year. (2)

Total revenue for fiscal year 2007 was $595.7 million, compared to $409.6 million for the previous fiscal year. License revenue for fiscal year 2007 was $182.5 million, compared to $122.5 million in the previous fiscal year. Adjusted net income for fiscal year 2007 was $74.3 million, or $1.46 per share on a diluted basis, compared to adjusted net income for the previous fiscal year of $50.8 million, or $1.01 per share on a diluted basis. This represents a growth of 45% of adjusted EPS for the year. Net income for fiscal year 2007 in...

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