Business software firm Open Text reports revenue up from year ago

WATERLOO, Ont. – Business software company Open Text Corp. (TSX:OTC) reported a fourth-quarter profit of US$8 million, down from $28.6 million a year ago.

The company, which keeps its books in U.S. dollars, said Thursday the profit amounted to 14 cents per diluted share compared with a profit of 49 cents per diluted share a year ago.

Revenue totalled $305.6 million, up from $285.5 million.

For the company’s full financial year, Open Text reported a profit of $125.2 million or $2.13 per diluted share on $1.2 billion in revenue.

That compared with a profit of $123.2 million or $2.11 per diluted share on $1.03 billion in revenue in the prior year.

In May, Open Text signed a deal to buy U.S. company EasyLink Services International Corp. in a deal worth about US$310 million, including debt.

Open Text sells software used by companies to manage their electronic documents.

Shares in the company were up 18 cents at C$49.06 on the Toronto Stock Exchange on Thursday.