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Open Text Corp OTEX
Q4 2010 Earnings Call Transcript

Transcript Call Date 08/18/2010

Operator: Good afternoon, ladies and gentlemen. Thank you for standing by. Welcome to Open Text Corporation's Fourth Quarter and Fiscal Year 2010 Financial Results Conference Call. At this time all participants are in listen-only mode. Following the presentation we will conduct a question-and-answer session with instructions provided. I would like to remind everyone that this conference is being recorded today, Wednesday August 18, 2010, at 5 pm Eastern Time.

I would now like to turn the conference over to Mr. Greg Secord, Vice President Investor Relations. Please go ahead.

Greg Secord - VP, IR: Thanks, Luke. Thank you for joining us. Please note that during the course of the conference call we may make projections or other forward-looking statements relating to the future performance of Open Text or its subsidiaries. These all statements may contain forward-looking information and actual results could differ materially from a conclusion, forecast or projection in the forward-looking information.

Certain material factors or assumptions were applied in drawing a conclusion or while making a forecast or projection as reflected in the forward-looking information. Additional information about the material factors or assumptions that could cause actual results to differ materially from a conclusion, forecast or projection in the forward-looking information and the material factors or assumptions that were applied in drawing a conclusion, while making a forecast or projection as reflected in the forward-looking information are contained in Form 10-K and Form 10-Q for Open Text or of Open Text as well as in our press release that was issued earlier today.

With that, I'd just like to comment on a few housekeeping items. First of all, Open Text will be holding an informal analyst briefing at the Microsoft campus in Redmond, Washington on Monday, September 13. This will be an excellent opportunity to understand Microsoft's perspective how we bring value to the partnership.

As well, we will be hosting an analyst briefing at our Annual Users Conference Content World on Wednesday, November 10, 2010 in Washington D.C. Content World is being held on the week of November 7 through November 12. Please reach to Investor Relations or email me directly, if you're interested in attending or being part of any of these events.

Now with that, I'll turn the call over to Paul.

Paul McFeeters - CFO: Thank you, Greg. Turning to the financial results, I will highlight our fourth quarter and then the fiscal year 2010. Total revenue for the quarter was $240 million, up 18% compared to $203.4 million for the same period last year. License revenue for the quarter was $58.5 million, up 9%, compared to $63 million reported for same period last year.

Maintenance revenue for the quarter was $129 million, up 24%, compared to $105 million for the same period last year. Services and other revenue in the quarter was $42 million, up 18% compared to $36 million in same period of last year.

We reported fourth quarter adjusted net income of $54.9 million, up 40% compared to the $39.2 million in the same period year ago. Fourth quarter adjusted EPS was $0.95 per share on a diluted basis, up from $0.73 per share for the same period year ago.

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