Open Text Corp (OTEX) Q4 2015 10-Q Quarterly Earnings

Short answer

Open Text Corp (OTEX) filed its Q4 2015 10-Q quarterly report on Feb 9, 2016 for the quarter ended Dec 31, 2015.

AI summary of MD&A and risk factor updates

Revenue $465.3M, down 0.5% YoY from $467.8M, with $31.6M foreign-exchange impact
GAAP operating margin 23.6% vs 23.6%; gross margin 70.0% vs 68.3% YoY
Best line: License revenue $81.9M, up 8.6%; worst: Professional services and other $50.3M, down $8.0M
Operating cash flow $123.9M, up 13.1%; cash $726.0M vs $700.0M at June 30, 2015
Capital deployment: $15.5M share repurchases, $24.2M dividends, $22.1M Daegis acquisition consideration
Outlook: Fiscal 2016 focus on earnings and cash-flow growth, with cloud strategy and acquisitions; recurring revenue down 2.3% YoY

New regulatory risk: IRS draft NOPA proposed $280 million tax increase, 20% penalties and substantial interest, triggered by Fiscal 2010 reorganization
Most material update: anticipated Fiscal 2012 NOPA could add $80 million, raising estimated aggregate exposure to approximately $550 million
Legal risk: São Paulo tax dispute carried $2.0 million claim and $3.0 million bank guarantee as of December 31, 2015
Operational risk: cloud services revenue declined 3.7% year over year to $149.1 million, reflecting near-term demand pressure
Financial risk: $1.584 billion debt outstanding, including $800 million Senior Notes due 2023 and floating-rate Term Loan B exposure

Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K

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