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Sylogist Announces Fiscal 2012 Results: Net Income Increases
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About this update from Sylogist Ltd.
[{"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. 17, 2013 /CNW/ - Sylogist Ltd. (TSXV:SYZ), a provider of\n technology based IP solutions, including enterprise information\n management systems for municipal, utilities, education and private\n sector customers, announces its audited financial results for the\n fiscal year ended September 30, 2012.\n\n\nIn fiscal 2012:\n\n\nNet income before tax increased to $2.9 million or $0.15 per fully\n diluted share, compared to $2.8 million or $0.14 per share in 2011.\n Total profit after tax was $2.0 million compared to $1.9 million in\n fiscal 2011.\n\nEBITDA(1) was $3.9 million, as compared to $4.0 million in the previous year.\n\nGross profit remained at 71% of revenue.\n\nRevenues were $9.3 million, as compared to $9.8 million in the prior\n year.\n\n1,056,800 shares were repurchased and cancelled during fiscal 2012 at an\n average price of $2.43.\n\nCash and short-term investments as at September 30, 2012 totalled $11.7\n million or $0.60 per share.\n\nWorking capital (net of deferred revenue) was $13 million or $0.67 per\n share.\n\nFederal tax pools at the end of fiscal 2012 stood at approximately $6\n million.\n\nDividends payments more than doubled to $3.8 million during the year\n compared to $1.8 million in the previous year.\n\n\n\"Fiscal 2012 saw continued progress on building a solid, sustainable\n financial foundation. Net income per share rose over 2011, with\n continued strong cash flow from operations.  The balance sheet remains\n pristine with substantial working capital and no debt.  In late fiscal\n 2012, Sylogist repurchased 5% of its outstanding common shares\n providing an accretive platform for 2013 results.  With the recent\n acquisition of fuel system management assets and expected strong and\n growing cash flow, we foresee a successful fiscal 2013.\" stated Jim\n Wilson, Chairman, President and CEO.\n\n\nAbout Sylogist\n\n\nSylogist is a technology innovation company which, through strategic\n acquisitions, investments and operations management, provides\n intellectual property solutions to a wide range of public and private\n sector customers. The Company's stock is traded on the TSX Venture\n Exchange under the symbol \"SYZ\".\n\n\n(1)EBITD...