OpenText Reports Second Quarter Fiscal Year 2021 Financial Results
Record Annual Recurring Revenues Record Cloud Revenues – Second Quarter Highlights Operating Cash Flows of $282.5 million in the quarter, up 36.3% YY Free Cash Flows of $274.8 million in the quarter, up 46.5% YY GAAP-based net income of million down 160.9% YY, margin of % down 2,160 basis points YY, primarily due to one-time IRS settlement charge of $299 million Adjusted EBITDA of $360.8 million up 13.8%, margin of … Record Annual Recurring Revenues (ARR), Record Cloud Revenues
– Free Cash Flows of $274.8 million in the quarter, up 46.5% Y/Y GAAP-based net income (loss) of ($65.5) million , down 160.9% Y/Y, margin of (7.7)% down 2,160 basis points Y/Y, primarily due to one-time IRS settlement charge of $299 million
OpenText Reports Second Quarter Fiscal Year 2021 Financial Results
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WATERLOO, ON, Feb. 4, 2021 /PRNewswire/
Second Quarter Highlights
Free Cash Flows of $274.8 million in the quarter, up 46.5% Y/Y
GAAP-based net income (loss) of ($65.5) million, down 160.9% Y/Y, margin of (7.7)% down 2,160 basis points Y/Y, primarily due to one-time IRS settlement charge of $299 million
Adjusted EBITDA of $360.8 million, up 13.8%, margin of 42.2%, up 110 basis points Y/Y
GAAP-based diluted earnings (loss) per share of ($0.24), down 160.0% Y/Y
Non-GAAP diluted earnings per share of $0.95, up 13.1%, and $0.92 in constant currency, up 9.5% Y/Y
Open Text Corporation (NASDAQ: OTEX), (TSX: OTEX), The Information Company, today announced its financial results for the second quarter ended December 31, 2020.
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On January 27, 2021, the United Kingdom’s Department for Work and Pensions (“DWP”) issued the draft regulation, The Occupational Pension Schemes (Climate Change Governance and Reporting) Regulations 2021 (the “Regulation”). The Regulation has been submitted for approval by Parliament and, assuming it is approved, would take effect on October 1, 2021. While pension plans in the United States are currently limited by a recent labor regulation to taking non-pecuniary environmental factors into account as a “tie-breaker” after considering pecuniary factors (which may also include environmental factors to the extent they are expected to materially influence the investment performance of a plan investment), and cannot take nonpecuniary factors into account at all in default funds, UK pension schemes (i.e., pension plans, DB and DC) with more than £5 billion in assets (initially, with the threshold dropping to £1
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It has been suggested the trend is a consequence of losing certain citizenship rights and having to apply for an EU visa because of Brexit. This is a stark reversal of the years of outward migration that preceded Brexit. More than 10,000 British pensioners have left the bloc since the Brexit referendum in 2016.