Reuters: Global Markets: Open Text software license sales miss forecasts

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Open Text software license sales miss forecasts Jul 31st 2013, 21:26 Wed Jul 31, 2013 5:26pm EDT (Reuters) - Business software maker Open Text Corp (OTC.TO) OTEX.N earned less in long-term license fees than analysts had expected in the fourth quarter, sending its shares down 5 percent after the bell. The Canadian supplier of software to help companies manage documents and workflows said quarterly revenue from customers paying license fees rose 1 percent. "(The) market was looking for 5 to 10 percent growth," said Thanos Moschopoulos, an analyst with BMO Capital Markets U.S. Open Text's fourth-quarter adjusted profit scraped past analysts' estimates of $1.42 per share, according to Thomson Reuters I/B/E/S. Excluding one-time items, the company earned $1.43 per share. Fourth-quarter revenue rose about 14 percent to $347.3 million. Analysts on average had forecast revenue of $360.8 million. Profit rose to $42.2 million, or 71 cents per share, in the fourth quarter from $8 million, or 14 cents per share, a year earlier, helped by demand for the company's growing cloud computing business. Waterloo, Ontario-based Open Text bought cloud computing software maker EasyLink for $232 million in July 2012. Profit in the year-ago quarter was hit by a $20.7 million provision for income tax. The company's shares closed at C$72.59 on the Toronto Stock Exchange on Wednesday. (Reporting By Garima Goel in Bangalore; Editing by Robin Paxton) Link this Share this Digg this Email Reprints

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