Business
Computer Modelling Group Announces Third Quarter Results
CALGARY, AB / ACCESSWIRE / February 9, 2023 / Computer Modelling Group Ltd. ("CMG" or the "Compa...
About this update from Computer Modelling Group Ltd.
[{"type":"text","content":"Computer Modelling Group Announces Third Quarter ResultsCALGARY, AB / ACCESSWIRE / February 9, 2023 / Computer Modelling Group Ltd. (\"CMG\" or the \"Company\") announces its financial results for the three and nine months ended December 31, 2022.Quarterly Performance Fiscal 2021 (2)Fiscal 2022 (3)Fiscal 2023 (4)($ thousands, unless otherwise stated)Q4Q1Q2Q3Q4Q1Q2Q3Annuity/maintenance license revenue13,79012,28613,23913,57514,30613,52914,82515,533Perpetual license revenue1,1841258461,4972,351386780518Software license revenue14,97412,41114,08515,07216,65713,91515,60516,051Professional services revenue1,8272,0031,8641,9732,1372,1922,4773,341Total revenue16,80114,41415,94917,04518,79416,10718,08219,392Operating profit6,5565,5735,4407,7557,3124,9615,5558,435Operating profit (%)3939344539313143Profit before income and other taxes5,7474,8275,3217,3106,5635,1825,9898,350Income and other taxes1,4541,0941,1751,7361,6111,3691,5792,002Net income for the period4,2933,7334,1465,5744,9523,8134,4106,348EBITDA (1)7,6276,5966,4738,8438,3665,8926,4929,300Cash dividends declared and paid4,0144,0154,0164,0174,0164,0174,0254,025Funds flow from operations6,2674,8114,9047,0227,1054,5584,9748,169Free cash flow (1)5,7554,4784,4946,2276,5844,2554,5057,545Per share amounts - ($/share) Earnings per share (EPS) - basic and diluted0.050.050.050.070.060.050.050.08Cash dividends declared and paid0.050.050.050.050.050.050.050.05Funds flow from operations per share - basic0.080.060.060.090.090.060.060.10Free cash flow per share - basic (1)0.070.060.060.080.080.050.060.09(1) This is a non-IFRS financial measure. See the \"Non-IFRS Financial Measures\" section.(2) Q4 of fiscal 2021 includes $1.1 million in revenue that pertains to usage of CMG's products in prior quarters.(3) Q1, Q2 Q3 and Q4 of fiscal 2022 include $nil, $0.5 million, $nil and $0.8 million, respectively, in revenue that pertains to usage of CMG's products in prior quarters.(4) Q1, Q2 and Q3 of fiscal 2023 include $0.2 million, $0.3 million, and $0.3 million, respectively, in revenue that pertains to usage of CMG's products in prior quarters.Commentary on Quarterly PerformanceFor the Three Months EndedFor the Nine Months EndedDecember 31, 2022 and compared to the same period of the previous fiscal year, when appropriate: Annuity/maintenance license revenue increased by 14%;Annuity/maintenance licen...