Open Text Corporation announced record revenues and operating profits for its second quarter ended December 31, 1998. Net income, excluding a one-time charge, for the second quarter was US$3.3 million, which is $0.15 per share (diluted) compared to net income of $153,000 or $0.01 per share, excluding a one-time charge, for the year-earlier quarter. The one-time charge of $3.4 million in the second quarter of fiscal 1999 relates to the company’s purchase of certain assets of LAVA Systems. For the twelfth consecutive quarter, Open Text reported the highest quarterly total revenues in the company’s history. Total revenues for the quarter were US$20.8 million up 113 percent from $9.8 million for the year-earlier period. License revenues for the quarter ended December 31, 1998 were $12.9 million, up 90 percent compared to $6.8 million for the second quarter of fiscal 1998. www.opentext.com

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