OpenText Launches European Data Zone for Cloud Fax Services
Aug 5 14
OpenText announced the launch of its European Data Zone for end-to-end cloud fax services. The OpenText European Data Zone, based in the UK, now provides OpenText Fax2Mail and OpenText Production Messaging customers with complete fax handling that includes message rendering and processing in addition to delivery of cloud fax messages. Customers concerned about data sovereignty issues can have their accounts provisioned to the European data center to ensure their data is handled entirely within Europe. As companies adopt new disruptive technologies such as mobile and cloud computing, many countries have begun to develop new information compliance standards and regulations. As a result, the geographic location of stored information has become a growing concern for companies in countries that have such regulatory or legislative requirements. OpenText fax services are part of the OpenText Cloud, which operates in a network of data centers throughout the Americas, Europe and Asia Pacific. The OpenText cloud includes a business network that allows companies to exchange documents using EDI, XML, fax and email, a development platform for building web, mobile and analytic applications and a suite of pre-packaged applications to automate business processes such as capture-to-archive, inquiry-to-resolution and procure-to-pay. The OpenText cloud processes over 16 billion transactions per year and houses over 350 terabytes of multimedia content for more than 600,000 businesses around the world. The company's cloud-based fax services reduce costs by eliminating the management complexity and hardware associated with an enterprise fax infrastructure. OpenText Fax2Mail is a cloud-based service that allows employees to receive and send faxes as electronic messages directly from their email, eliminating the need for fax servers, fax machines and related infrastructure. With OpenText's enterprise cloud fax service, users can: Send and receive faxes via email, web portal or API; Comply with privacy, security and records-keeping mandates; Automate workflows; Eliminate fax hardware and installed software; and Improve productivity with reduced cycle times. OpenText Production Messaging is a cloud-based service that integrates with back office applications and ERP systems to deliver customized outbound transactions via fax, email, secure email, EDI or SMS messages. It is customized to each customer's high-volume communications needs including trade confirmations, letters of credit, customer statements and business reports. OpenText Fax2Mail and OpenText Production Messaging are part of OpenText's Information Exchange portfolio of products, which allows for the efficient, secure and compliant exchange of information inside and outside of organizations. A comprehensive suite of products, Information Exchange offers messaging and B2B Integration services on--premise and via the cloud such as secure mail, large file transfer, fax and EDI within a single platform, enabling any to any transactions. Information Exchange is one pillar of OpenText's Enterprise Information Management (EIM) platform consisting of five comprehensive and integrated product suites, an engaging and consistent user experience and deep integration across suites to enable CIOs to partner with all lines of business. Availability: OpenText Fax2Mail and OpenText Production Messaging processing within the European data zone is available immediately.
Open Text Corporation Declares Quarterly Cash Dividend, Payable on September 19, 2014; Announces Executive Changes, Effective September 8, 2014; Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended June 30, 2014
Jul 30 14
The Board of Open Text Corporation declared a quarterly cash dividend to holders of the Company's Common Shares of $0.1725. The record date for this dividend is August 29, 2014 and the payment date is September 19, 2014.
The company appointed John Doolittle as Chief Financial Officer. Mr. Doolittle is a senior executive with more than 20 years of financial experience, including most recently as Chief Financial Officer of Mattamy Homes Limited. Effective September 8, 2014, Mr. Doolittle will replace Paul McFeeters who previously announced his intention to retire from his position as CFO by no later than September 30, 2014. Mr. Doolittle will work with Mr. McFeeters to ensure a seamless transition of financial leadership responsibilities.
The company reported unaudited consolidated earnings results for the fourth quarter and full year ended June 30, 2014. For the quarter, the company reported total revenues of $493,978,000 compared to $347,267,000 a year ago. Income from operations was $107,705,000 compared to $49,473,000 a year ago. Income before income taxes was $98,033,000 compared to $41,303,000 a year ago. Net income for the period was $88,148,000 or $0.72 per basic and diluted share compared to $42,172,000 or $0.36 per basic and diluted share a year ago. Net income attributable to the company $88,111,000 compared to $42,172,000 a year ago. Net cash provided by operating activities was $134,914,000 compared to $65,217,000 a year ago. Additions of property and equipment were $13,825,000 compared to $7,315,000 a year ago. Non-GAAP-based EPS, diluted was $1.05 compared to $0.72 year on year, up 48%. Non-GAAP-based income from operations was $162.2 million and 33% of revenues up 58% year on year. Non-GAAP-based net income was $128,675,000 compared to $84,665,000 a year ago.
For the year, the company reported total revenues of $1,624,699,000 compared to $1,363,336,000 a year ago. Income from operations was $300,528,000 compared to $197,665,000 a year ago. Income before income taxes was $276,535,000 compared to $178,210,000 a year ago. Net income for the period was $218,074,000 or $1.81 per diluted share compared to $148,520,000 or $1.26 per diluted share a year ago. Net income attributable to the company $218,125,000 compared to $148,520,000 a year ago. Net cash provided by operating activities was $417,127,000 compared to $318,502,000 a year ago. Additions of property and equipment were $42,268,000 compared to $42,268,000 a year ago. Non-GAAP-based EPS, diluted was $3.37 compared to $2.79 year on year, up 21%. Non-GAAP-based income from operations was $502.7 million and 31% of revenues, up 26% year on year. Non-GAAP-based net income was $406,775,000 compared to $329,076,000 a year ago.
Open Text Corporation (NasdaqGS:OTEX) Seeks Acquisitions
Jul 30 14
Open Text Corporation (NasdaqGS:OTEX) is seeking acquisitions. Mark Barrenechea, President and Chief Executive Officer of OpenText, "We operate in corporate development, and ready to on-board any potential acquisition as and when appropriate." Barrenechea added, "We're in a strong product cycle. And we've laid out a practical, achievable, growth agenda, as well, in FY15, leveraging our product cycle, new B-to-B markets, compliance, continuing to transition customers to managed services, partners and alliances and leveraging everything from established markets to our new global account teams, and we're ready to consider more acquisitions."