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Open Text Corp. profit misses consensus by 42.3% in fiscal Q2

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Open Text Corp. profit misses consensus by 42.3% in fiscal Q2

Open Text Corp. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, was 26 cents per share, compared with the S&P Capital IQ consensus estimate of 45 cents per share.

EPS rose 17.4% year over year from 22 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $63.0 million, an increase of 16.3% from $54.2 million in the year-earlier period.

The normalized profit margin climbed to 13.5% from 11.6% in the year-earlier period.

Total revenue came to $465.3 million, compared with $467.8 million in the prior-year period, and total operating expenses decreased on an annual basis to $346.2 million from $363.0 million.

Reported net income rose 18.8% on an annual basis to $87.7 million, or 36 cents per share, from $73.8 million, or 30 cents per share.