RBC Capital Upgrades Open Text (OTEX) to Outperform

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Go back to RBC Capital Upgrades Open Text (OTEX) to Outperform

Open Text (OTEX) Tops Q4 EPS by 18c; Updates on IRS Tax Matters; Approves $200M Buyback Plan

July 29, 2015 4:10 PM EDT

Open Text (NASDAQ: OTEX) reported Q4 EPS of $0.87, $0.18 better than the analyst estimate of $0.69. Revenue for the quarter came in at $482.7 million versus the consensus estimate of $447.24 million.

Update on IRS Tax Matters

As we have previously disclosed in our public filings, the United States Internal Revenue Service ("IRS") is examining certain of our tax returns for Fiscal 2010 through Fiscal 2012, and in connection with those examinations is reviewing our internal reorganization in Fiscal 2010 to consolidate certain intellectual property ownership in Luxembourg and Canada and our integration of certain acquisitions into the resulting... More