Impressive numbers for OpenText
Posted Oct 27, 2011 12:08:12 AM.
This article is more than 5 years old.
A software maker based in Waterloo has impressed its shareholders with great first quarter numbers. OpenText supports approximately 46-thousand customers in 114 countries. Total revenue for the first quarter of fiscal 2012 was $288.0 million, up 32.5% compared to $217.4 million for the same period in the prior fiscal year.
John Shackleton, the President and Chief Executive Officer said licence revenue was up 52.5% per cent.
“With North America responsible for 51% percent of revenue, Europe for 41% percent with the remaining 8% percent primarily coming from Asia bank.”
Shackleton says the company focused on emerging markets.
“By concentrating on existing install base and focusing on new sales in emerging markets, we have a good balance of opportunities in the pipeline. Even in this tough economy we remain comfortable with our pipeline and margin targets for fiscal 2012. While we’re still navigating the economic challenges of global IT spend, we’re seeing particular pickup in emerging markets with areas like China being well served by our partners and territories such as Brazil flourishing under our sales team.”
Shackleton adds the company is happy with their current operating model and say they expect to do well in the future. He says they delivered strong value to their shareholders.
