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Open Text Handily Beats Estimates

The software maker's shares surge more than 11% on robust earnings.

SAN FRANCISCO -- Open Text (OTEX) - Get Open Text Corporation Report 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.

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The stock was up $2.37, or 11.8%, to $22.49 in recent after-hours trading.

First quarter 2008 guidance was not given.