Gross margin for the quarter before amortization of acquired technology was 72% compared to 73.3% in the same period last year. The decrease is primarily related to the initial write-down at the maintenance revenue of $2 million due to the acquisitions of the Metastorm and Global 360. Our pretax adjusted operating margin before interest expense without compensation was $73 million this quarter compared to $62 million in Q1 last year. Adjusted net income increased 18% to $59 million this quarter from $50 million in the same quarter last year. Adjusted earnings per share was $1.01 on a diluted basis, up 17% from $0.86 per share for the same period a year ago. The sequential effect of foreign currency movement on adjusted earnings per share for Q1 was a positive $0.02.Adjusted tax rate for the quarter is 14%, the same as it was last fiscal year. Net income for the first quarter in accordance with GAAP were $35 million or $0.60 per share on a diluted basis compared to $22 million or $0.37 per share on a diluted basis for the same period a year ago. There are approximately 58.6 million shares outstanding on a fully diluted basis for the first quarter.
Open Text's CEO Discusses Q1 2012 Results - Earnings Call Transcript
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