Business
Sylogist Announces First Quarter Fiscal 2011 Results, Declares Quarterly Dividend.
Feb. 16, 2011 (Canada NewsWire Group) -- /THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNIT...
About this update from Sylogist Ltd.
[{"type":"text","content":"\n\n\n\n Feb. 16, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\n/THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE\n SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./\n\n\nCALGARY, Feb. 16 /CNW/ - Sylogist Ltd. (TSXV:SYZ), a leading provider of\n intellectual property solutions to public and private sector customers,\n is pleased to release its unaudited financial results for the first\n quarter of fiscal 2011 ending December 31, 2010.\n\n\nIn the first quarter of fiscal 2011:\n\n\n\nEBITDA(1) was $0.8 million or $0.04 per share.\n\n\nNet after tax earnings were $0.4 million or $0.02 per share.\n\n\nGross profit margins in the quarter improved to 72% up from 64% in the\n first quarter of fiscal 2010.\n\n\nRevenues were $2.3 million.\n\n\nCash and cash equivalents as at December 31, 2010 totalled $14 million\n or $0.69 per share.\n\n\nWorking capital (net of deferred revenue) was $18.5 million or $0.92 per\n share.\n\n\nTax pools at the end of the first quarter of fiscal 2011 stood at $12.4\n million.\n\n\n\n"We are pleased with our progress in the first quarter of fiscal 2011.\n Cash flow from operations remained strong as we significantly increased\n our investment in marketing to grow our business while improving our\n operating efficiencies through our Software-as-a-Service\n offerings. Marketing costs increased by 78% over the previous\n comparable period while gross profit improved to our highest level at\n 72% of revenue. Non cash costs, ...