OPEN TEXT CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(In thousands of U.S. dollars, except share and per share data)

(unaudited)

Three Months Ended September 30,

2015

2014

Revenues:

License

$

51,331

$

58,195

Cloud services and subscriptions

147,790

154,053

Customer support

185,667

183,906

Professional service and other

49,747

57,633

Total revenues

434,535

453,787

Cost of revenues:

License

2,681

2,997

Cloud services and subscriptions

58,916

59,577

Customer support

20,508

22,963

Professional service and other

38,064

43,197

Amortization of acquired technology-based intangible assets

19,883

18,206

Total cost of revenues

140,052

146,940

Gross profit

294,483

306,847

Operating expenses:

Research and development

46,440

44,742

Sales and marketing

77,945

81,041

General and administrative

35,569

35,743

Depreciation

12,914

12,242

Amortization of acquired customer-based intangible assets

27,805

25,884

Special charges

17,337

4,169

Total operating expenses

218,010

203,821

Income from operations

76,473

103,026

Other expense, net

(4,913)

(9,873)

Interest and other related expense, net

(19,046)

(11,099)

Income before income taxes

52,514

82,054

Provision for income taxes

11,202

17,402

Net income for the period

$

41,312

$

64,652

Net income attributable to non-controlling interests

(26)

(26)

Net income attributable to OpenText

$

41,286

$

64,626

Earnings per share—basic attributable to OpenText

$

0.34

$

0.53

Earnings per share—diluted attributable to OpenText

$

0.34

$

0.53

Weighted average number of Common Shares outstanding—basic

122,160

121,918

Weighted average number of Common Shares outstanding—diluted

122,640

122,861

Dividends declared per Common Share

$

0.2000

$

0.1725