Open Text reports increased revenues

Open Text (Waterloo, Ontario, http://www.opentext.com

) has announced Q4 '97 revenues of $7.3 million, which represents a 95% increase from Q4 '96. A net loss of $2.3 million in Q4 '97 compares with a net loss of $5.6 million in Q4 '96. License revenues for Q4 '97 were up 88% from Q4 '96, to $4.7 million, while service revenues jumped up 107% over the same period to $2.5 million. In Q4 '97, Open Text signed major contracts with Motorola (Schaumburb, IL), TRW (Oakland, CA) and Booz, Allen and Hamilton (Sunnyvale, CA), as well as a bundling agreement with Netscape for Open Text's Livelike Intranet web-based document management software. "One year ago we set a number of benchmarks," says Open Text CEO Tom Jenkins, including revenue growth, gross profit growth and market share. "We believe that we have achieved all of our goals."