Sylogist Announces Fiscal 2011 Results: Net Income Down, Cash Flow and Profit Margins Up.

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[{"type":"text","content":"\n\n\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, Jan. 16, 2012 /CNW/ - Sylogist Ltd. (TSXV:SYZ) (\"Sylogist\"), a leading provider of intellectual property solutions to public and\n private sector customers, announces its audited financial results for\n the fiscal year ended September 30, 2011.\n\n\nIn fiscal 2011:\n\n\nNet income per fully diluted share was $0.09 compared to $0.17 in 2010. \n Total net income after tax was $1.9 million compared to $3.1 in 2010.\n\n\nEBITDA(1) was $3.8 million compared to $4.2 million in the previous year.\n\n\nCash Flow from Operations was up 16% to $4 million.\n\n\nGross profit margins improved to 72%, up from 63% in fiscal 2010.\n\n\nRevenues increased by 4% year over year to $10.1 million.\n\n\nCash and short-term investments as at September 30, 2011 totalled $14.2\n million or $0.71 per share.\n\n\nWorking capital (net of deferred revenue)(1) was $15.7 million or $0.78 per share.\n\n\nFederal tax pools at the end of fiscal 2011 stood at $10 million.\n\n\nDividends payments doubled to $1.8 million compared to $0.9 million in\n the previous year.\n\n\n\"Fiscal 2011 saw increases in revenue, profit margins, cash flow from\n operations and dividend payments to shareholders.  Net income compared\n to fiscal 2010 results was lower due to non-cash expenses including\n stock compensation, future taxes, and investment tax credits.  We are\n pleased with the results.\" stated Jim Wilson, Chairman, President and\n CEO of Sylogist Ltd.\n\n\nAbout Sylogist\n\n\nSylogist is a technology innovation and licensing company which, through\n strategic acquisitions, investments and operations management, provides\n intellectual property solutions to a wide range of public and private\n sector customers.\n\n\n(1)EBITDA and Working Capital are non-GAAP financial measures.  EBITDA\n is calculated as earnings before stock based compensation, interest,\n income taxes, depreciation and amortization.  Working Capital is\n calculated as current assets less current liabilities adjusted for\n deferred revenue.\n\n\n(2) Per share calculations are based on the weighted average number of\n shares outstanding at year end.\n\n\nFull financial statements together with Management's Discussion and\n Anal...

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