The logo for OpenText is shown in this undated handout photo. THE CANADIAN PRESS/HO-OpenText *MANDATORY CREDIT
WATERLOO, ONT. – Open Text Corp. says it earned US$248.2 million in its fourth quarter, up from a loss of US$48.7 million a year earlier.
The Waterloo, Ont.-based company says revenues for the quarter totalled US$1.4 billion, down from US$1.5 billion during the same quarter last year.
Diluted earnings per share were 91 cents US, up from a loss of 18 cents US a year earlier.
The company’s full-year earnings were US$465.1 million, up from US$150.4 million in the previous financial year.
CEO Mark Barrenechea says the company saw its revenues for the full year rise 29 per cent to US$5.8 billion.
The company says it completed a US$2 billion reduction in debt during the quarter. It also announced it’s increasing its annualized dividend by five per cent to US$1.05 per share.
This report by The Canadian Press was first published Aug. 1, 2024.
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