Business
Constellation Software Inc. Announces Results for First Quarter 2007
Constellation Software Inc. Announces Results for First Quarter 2007.
About this update from Constellation Software Inc.
[{"type":"text","content":"\n\n\n\nTORONTO, May 9 /CNW/ - Constellation Software Inc. (TSX: CSU)\n("Constellation" or the "Company") today announced its financial results for\nthe first quarter ended March 31, 2007. Please note that all dollar amounts\nreferred to in this press release are U.S. Dollars unless otherwise stated.\n\n\nQ1 2007 Year over Year Results:\n\n\n- Revenue up 9%\n- Adjusted EBITDA up 16%\n- Adjusted Net Income up 38% (to $0.33 on a per share basis)\n- Completed three acquisitions\n\n\nQ1 2007 Results\n\n\n---------------\n\n\nFirst quarter revenue increased 9% to $55.9 million compared to\n$51.2 million reported in the same period last year. Revenue per share on a\nfully diluted basis increased 7% compared to the prior year's first quarter.\n\n\n"During the first quarter, we produced reasonable levels of profitability\nand late in the quarter we closed one of the largest acquisitions in our\nhistory. We had organic revenue contraction of approximately 1% but it was\nmasked by 10% acquired growth," said Mark Leonard, President of Constellation.\n"Several of our private sector businesses that are related to the housing\nsector are experiencing shrinking revenues or are growing more slowly than\npreviously. We also saw revenues decline in our Trapeze operating group during\nQ1. Despite our lower short-term performance, we continue to believe that we\nwill achieve the 20% revenue growth per share that we targeted in our\n2006-2010 objectives."\n\n\nAdjusted EBITDA for the first quarter increased 16% to $8.4 million\ncompared to the prior year's first quarter Adjusted EBITDA of $7.2 million.\nFirst quarter Adjusted EBITDA per share on a fully diluted basis increased 14%\ncompared to the prior year's first quarter.\n\n\nFirst quarter Adjusted Net Income increased 38% to $7.0 million ($0.33 on\na per share basis) over the prior year's first quarter Adjusted Net Income of\n$5.1 million ($0.25 on a per share basis). First quarter Adjusted Net Income\nper share on a fully diluted basis increased 35% compared to the prior year's\nfirst quarter.\n\n\nNet income for the first quarter was $2.6 million compared to the prior\nyear's first quarter net loss of $8.7 million. On a fully diluted per share\nbasis, this translates into net income per share of $0.12 for the first\nquarter of 2007, compared to a net lo...