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

 Advanced Asembly

Featured Video
Latest Blog Posts
Bob Smith, Executive DirectorBridging the Frontier
by Bob Smith, Executive Director
You’re Invited! SEMI’s Innovation for a Transforming World
intelThe Dominion of Design
by intel
The Long Game: Product and Security Assurance
Anupam BakshiAgnisys Automation Review
by Anupam Bakshi
Setting a High Standard for Standards-Based IP
Jobs
Circuit Design & Layout Simulation Engineer - Co-Op (Spring 2021) for Global Foundaries at Santa Clara, California
Pre-silicon Design Verification Engineer for Intel at Santa Clara, California
Senior Staff Field Application Engineer for Global Foundaries at Santa Clara, California
Test and Measurement System Architect for Xilinx at San Jose, California
Staff SerDes Applications Design Engineer for Xilinx at San Jose, California
Sr Engineer - RF/mmWave IC Design for Global Foundaries at Santa Clara, California
Upcoming Events
Innovation for a Transforming World -virtual Event at United States - Jul 13 - 14, 2021
DesignCon 2021 at San Jose McEnery Convention Center San Jose, CA San Jose CA - Aug 16 - 18, 2021
SEMICON Southeast Asia 2021 Hybrid Event at Setia SPICE Convention Centre Penang Malaysia - Aug 23 - 27, 2021
7th International Conference on Sensors & Electronic Instrumentation Advances (SEIA' 2021) at Palma de Mallorca, Mallorca balearic islands) Spain - Sep 14 - 16, 2021



© 2021 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise