Business
Dye & Durham Reports Third Quarter Fiscal 2023 Financial Results and Announces New Substantial Issuer Bid
Dye & Durham Reports Third Quarter Fiscal 2023 Financial Results and Announces New Substantia...
About this update from Dye & Durham Ltd.
[{"type":"text","content":"\n \n \n \n Dye & Durham Reports Third Quarter Fiscal 2023 Financial Results and Announces New Substantial Issuer Bid\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prnrbrb0{\nBORDER-RIGHT:black 0pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prntar{\nTEXT-ALIGN: RIGHT\n}\n.prnvab{\nVERTICAL-ALIGN: BOTTOM\n}\n.prnsbtb0{\nBORDER-TOP:black 0pt\n}\n.prnvat{\nVERTICAL-ALIGN: TOP\n}\n.prnsbbb0{\nBORDER-BOTTOM:black 0pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnpr2{\nPADDING-RIGHT:0.17em\n}\n.prnsblb0{\nBORDER-LEFT:black 0pt\n}\n.prnpl2{\nPADDING-LEFT:0.17em\n}\n \n \n \n \n \n Dye & Durham Reports Third Quarter Fiscal 2023 Financial Results and Announces New Substantial Issuer Bid\n \n \n Canada NewsWire\n \n \n \n \n \n \n Contracted annual recurring revenue was 18% of total revenue, more than doubling year-over-year\n \n \n \n \n Percentage of revenue exposed to real estate transactions reduced to 50% globally and 26% from\n \n Canada\n \n \n \n \n \n Operating expense reductions significantly exceeding target of 10% compared to the same period in FY22\n \n \n \n \n Substantial issuer bid offers to buy back up to\n \n $15 million\n \n of outstanding common shares\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n May 10, 2023\n \n \n /CNW/ - Dye & Durham Limited (\"\n \n Dye & Durham\n \n \" or the \"\n \n Company\n \n \") (TSX: DND), one of the world's largest providers of cloud-based legal practice management software, today announced its financial results for the three months (\"\n \n Q3 FY23\n \n \") ended\n \n March 31, 2023\n \n .\n \n \n \"After a challenging start to the year, we are seeing concrete signs that seasonal real estate transaction volumes are starting to accelerate and recover. Given our strong and sustainable earnings and cashflow profile, as well as our organic and M&A growth pipeline, we believe our stock is significantly undervalued and represents one of the best opportunities in the market. The\n \n $15 million\n \n substantial issuer bid reflects our confidence in our business and while w...