WATERLOO, ONTARIO — Waterloo-based technology company OpenText says it earned $102.2 million in the three months ended June 30, down 43.6% from the year-ago quarter, even though it achieved record revenue of $3.5 billion for its entire 2022 fiscal year.
The company says its fourth-quarter earnings were 38 cents per diluted share, compared to 66 cents in the fourth quarter of fiscal 2021.
On an adjusted basis, OpenText earned $313.6 million in the fourth quarter, compared to $314.8 million during the same period in 2021.
The company’s fourth-quarter revenue was $902 million, up 1% from the year-ago quarter.
OpenText’s revenue from cloud services and subscriptions increased 14% year over year, from $360.2 million to $411.6 million.
OpenText says that for all of fiscal 2022, the company achieved record cloud revenue and cloud reservations. It says 82% of its total revenue was annual recurring revenue.
This report from The Canadian Press was first published on August 4, 2022.
Companies in this story: (TSX: OTEX)
The Canadian Press