Software
Open Text Handily Beats Estimates
Ivy Lessner
08/30/07 - 04:40 PM EDT
SAN FRANCISCO -- Open Text(OTEX) blew past fourth-quarter earnings expectations Thursday.
The Waterloo, Ontario, enterprise software developer reported a top line of $175.2 million, up 66.5% from the same period of 2006, when revenue was $105.2 million. Analysts had been expecting revenue of $165.6 million, according to Thomson Financial.
EPS was 16 cents on net income of $8.2 million, vs. $7.8 million in the year-ago period.
Excluding items, the company posted an impressive EPS, less items, of 52 cents, far ahead of analysts' estimates for EPS of 40 cents.
The stock was up $2.37, or 11.8%, to $22.49 in recent after-hours trading.
First quarter 2008 guidance was not given.