Market Gems:Stocks w/Strong Earnings and High Tech. Rank Message Board

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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank

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To: Jerry Olson who wrote (35565)	4/21/1999 6:10:00 PM
From: Jenna	Read Replies (1) of 120523

Open Text Corporation Posts Record Results for Third-Quarter Fiscal 1999 Thirteenth Consecutive Quarter of Record Revenue, Record Net Income Achieved WATERLOO, Ontario--(BUSINESS WIRE)--April 21, 1999--Open Text Corporation (NASDAQ:OTEX - news; TSE:OTC - news), the worldwide leader of Web-based collaborative knowledge management application software, today announced record revenues and net income for its third quarter ended March 31, 1999.(1) Net income for the third quarter was US$4.7 million, which is $0.20 per share (fully diluted) compared to a net income of $1.0 million or $0.05 per share, for the year-earlier quarter. Cash increased by $5.1 million to $38.2 million after spending $2.7 million related to one time Lava integration costs. For the thirteenth consecutive quarter, Open Text(TM) reported the highest quarterly total revenues in the company's history. Total revenues for the quarter were US$25.0 million, up 112% from the $11.7 million reported for the year-earlier period.

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