Business
Sylogist 9 Month Results: Profit and Earnings per share more than triple, Dividend increased.
Sylogist 9 Month Results: Profit and Earnings per share more than triple, Dividend increased.
About this update from Sylogist Ltd.
[{"type":"text","content":"\n\n\n\n Aug. 18, 2010 (Canada NewsWire Group) -- \n\n \n \n \nTR.cnwUnderlinedCell TD {\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell {\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell {\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell {\n BORDER-BOTTOM: #000000 3px solid\n}\n\n/THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n\nCALGARY, Aug. 18 /CNW/ - Sylogist Ltd. ("Sylogist") (TSX-V:SYZ), a leading provider of enterprise information management solutions to municipal, education and private sector customers, is pleased to release its unaudited financial results for the 9 months and third quarter of fiscal 2010 ended June 30, 2010.\n\n\n >\n\n\n"Profitability for the third quarter of fiscal 2010 was significantly better than the same quarter last year because of better gross margins on sales. During the third quarter, additional funds were allocated to marketing and development to focus on organic growth opportunities that are available in our market. Subsequent to the end of the third quarter of fiscal 2010, Sylogist raised gross proceeds of $6.9 million through an oversubscribed private placement priced at $2.10 per share. The Company's cash position now stands at more than $14 million ($0.70 per share) providing flexibility to pursue growth opportunities", stated Jim Wilson, Chairman, President and CEO.\n\n(1) EBITDA: earnings before stock based compensation, interest, income taxes, depreciation and amortization.\n\nAbout Sylogist\n--------------\nSylogist provides leading financial enterprise information management systems, system connectivity solutions and portal applications to municipal, education and private sector customers.\nFull financial statements together with Management's Discussion and Analysis are available on SEDAR.\nThe Company's stock is traded on the TSX Venture Exchange under the symbol SYZ. Information about Sylogist can be found at http://www.sylogist.com.\n\nForward-looking Statements\n--------------------------\nThis news release contains forward-looking statements relating to the future operations of the Corporation and othe...