Short answer

Open Text Corp (OTEX) filed its fiscal 2012 10-K annual report with the SEC on Aug 10, 2012.

Top risk flagged: Global downturn and public-sector credit contraction: customers may delay technology purchases or payments

Open Text Corp FY2012 10-K analysis

AI summary of each section, grounded in the filing text

Enterprise Information Management software provider, monetized through licenses, recurring support and professional services
EIM repositioning beyond ECM, emphasizing BPM, CEM, Information Exchange and Discovery portfolios
Global 360 acquisition for $256.6 million expanded case management and document-centric BPM capabilities
R&D spending reached $169.0 million, up from $146.0 million in Fiscal 2011
4,574 employees at June 30, 2012, with 539 EasyLink employees acquired immediately afterward

Revenue $1.207B, up 16.9% YoY, led by customer support revenue $656.6M, up $96.0M
GAAP operating margin 12.4% vs 14.6%; non-GAAP operating margin 27.3% vs 27.5%
Best segment: customer support margin 83.2%; worst: services and other margin 20.3%, up from 17.5%
Operating cash flow $266.5M, up 19.4%; investing outflow $281.5M, primarily acquisitions
$600M term loan financing, $15.0M principal repayment; future acquisitions may require additional financing

Global downturn and public-sector credit contraction: customers may delay technology purchases or payments
Third-party software dependency: loss of licenses or vendor support could delay product shipments
Cloud computing, mobility, social media and SaaS: alternative delivery models could render offerings obsolete
Acquisition-led growth: debt financing could increase interest expense and impose restrictive covenants
Data-security breaches: unauthorized access could cause customer-data loss, penalties, fines and litigation

Generated from the filing text; verify against the original. How to read a 10-K

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