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The Globe and Mail

Revenue up for business software firm Open Text

The Open Text building in Waterloo, Ont. is photographed in 2006.

Kevin Van Paassen/The Globe and Mail

Business software company Open Text Corp. reported a fourth-quarter profit of $8-million (U.S.), down from $28.6-million a year ago.

The company said Thursday the profit amounted to 14 cents per diluted share compared with a profit of 49 cents per diluted share a year ago.

Revenue totalled $305.6-million, up from $285.5-million.

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For the company's full financial year, Open Text reported a profit of $125.2-million or $2.13-per diluted share on $1.2-billion in revenue.

That compared with a profit of $123.2-million or $2.11-per diluted share on $1.03-billion in revenue in the prior year.

In May, Open Text signed a deal to buy U.S. company EasyLink Services International Corp. in a deal worth about $310-million, including debt.

Open Text sells software used by companies to manage their electronic documents.

Shares in the company were up 18 cents at $49.06 (Canadian) on the Toronto Stock Exchange on Thursday.

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