Open Text reported its Q4 results, which exceeded analyst expectations. The company reported a net income of $8.2 million, a five percent increase from $7.8 million last year. The sales increased by 59 percent, which was primarily due to the growth in its license revenue.
Open Text announced that its net income for Q4 increased to $8.2 million, compared to $7.8 million last year. The revenue also increased from $105.2 million last year to $175.2 million, an increase of 67 percent. Kaufman Bros. upgraded its rating for the company from ‘Hold’ to ‘Buy’.