OpenText sees earnings drop in second quarter to US$37.7 million
BNN Bloomberg
OpenText Corp. says it earned US$37.7 million in its second quarter, down 85 per cent from US$258.5 million during the same quarter last year.
The company saw its operating expenses nearly double for the quarter, and was also hit with significantly higher interest and other related expenses.
The Waterloo, Ont.-based company says revenues for the quarter were US$1.5 billion, up from US$897.4 million a year earlier.
Earnings per diluted share were 14 cents US, up from 96 cents US a year earlier.
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