Business
Sylogist Announces 9 Month Results for Fiscal 2005: Year-over-year revenue increases by 26% and profit increases by 255%
Sylogist Announces 9 Month Results for Fiscal 2005: Year-over-year revenue increases by 26% and profit increases by 255%.
About this update from Sylogist Ltd.
[{"type":"text","content":"\n\n\n\n\nCALGARY, Aug. 10 /CNW/ - Sylogist (TSX Venture Exchange:SYZ) today\nreleased its unaudited financial results for the 3 month and 9 month periods\nending June 30, 2005.\n\nFinancial Highlights for the first 9 months of Fiscal 2005:\n\n- Net Income of $1,594,329 ($0.13 per share) on revenue of $4,718,108.\n- Year-over-year revenue growth of 26%.\n- Year-over-year profit growth of 255%.\n- Cash flow from operations of $1,181,815.\n- Net cash position of $5,014,348, no debt.\n\nRevenue for the 3 month period ending June 30, 2005 was $1.51 million\ncompared to $1.18 million for the same period last year, an increase of 28%.\nYear-over-year profit grew by over sevenfold, from $104 thousand to\n$859 thousand. Revenue growth was attributed to new projects and increased\nrecurring revenue.\nRevenue for the 9 month period was $4.72 million compared to\n$3.75 million for the same period last year, an increase of 26%. Profit for\nthe 9 month period grew from $449 thousand to $1.59 million.\nOn May 19th, Sylogist announced the signing of definitive agreements with\nthe Alberta Urban Municipality Association Services Corporation (AMSC) for an\n$8.2 Million staged contract along with a 10 year operating agreement. The\nagreements call for the development, marketing, maintenance and support of a\nmunicipal shared service supporting the financial system requirements of\nAlberta municipalities.\nWith the commitment of the AMSC contract, Sylogist's backlog of work as\nof June 30th stands at $15 million.\nThe Company's financial statements are available on SEDAR\n(www.SEDAR.com).\n\nAbout Sylogist\n--------------\n\nSylogist delivers information management and technology solutions to\ngovernment and industry clients. The Company's solutions are designed to\nimprove productivity for both conventional computer based workers and mobile\nworkers. Sylogist's software solutions, along with related services are\ndelivered to a global base through its own sales and delivery organization, as\nwell as through OEM channels.\nThe Company's stock is traded on the TSX Venture Exchange under the\nsymbol SYZ. Information about Sylogist can be found at\nhttp://www.sylogist.com.\n\n\n\n","length":2232,"tagName":"div"}]