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Open Text results beat expectations as revenue up

Thu Nov 1, 2007 4:09pm EDT

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TORONTO, Nov 1 (Reuters) - Business software firm Open Text Corp (OTC.TO)(OTEX.O) reported first-quarter results that topped analyst expectations on Thursday as license, support and service revenues all moved higher.

Open Text, which bought Canadian rival Hummingbird Ltd last year for $489 million, said it earned $7.8 million, or 15 cents a share, in the three months ended Sept. 30. That was up from a profit of $7.3 million, or 15 cents a share, in the same period a year earlier. However, the key adjusted profit figure hit 43 cents a share, up from 24 cents a share a year before.

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