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Sylogist First Quarter Fiscal 2018 Results: Earnings per share rise 160%, adjusted EBITDA margins increase to 48% on higher revenue, lower expenses; Dividend Declared
Sylogist First Quarter Fiscal 2018 Results: Earnings per share rise 160%, adjusted EBITDA ...
About this update from Sylogist Ltd.
[{"type":"text","content":"\n\n\n\nSylogist First Quarter Fiscal 2018 Results: Earnings per share rise 160%, adjusted EBITDA margins increase to 48% on higher revenue, lower expenses; Dividend Declared\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, Feb. 21, 2018\n\n\n\n/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./\n\n\n\nCALGARY, Feb. 21, 2018 /CNW/ - Sylogist Ltd. (TSXV:SYZ) (\"Sylogist\" or the \"Company\"), a provider of enterprise information management solutions, is pleased to announce its unaudited financial results for the first quarter of the 2018 fiscal year, ended December 31, 2017.\n\nQ1 2018 Summary (Comparisons are to Q1 2017, unless otherwise noted)\n\n\nRevenues were $8.8 million, compared to $7.8 million in the first quarter last year, an increase of 12%.\nGross profit margins improved to 76% from 66%.\nReported earnings were $3 million compared to $1.3 million in Q1 2017, an increase of 139%.\nEarnings per fully diluted common share increased 160% to $0.13 per share, up from $0.05 per share.\nAdjusted EBITDA(1) was $4.3 million, an increase of 56%, or $0.19 per fully diluted common share, up 58%.\nAdjusted EBITDA(1) margin was 48%, compared to 35%.\nCash generated from operations totalled $3.4 million, up from $824 thousand in Q1 2017.\nThe Company paid regular and special dividends to shareholders totalling $2.9 million during the quarter.\nAdjusted Working Capital(1) was $28.4 million an increase of 1%, or $1.26 per share, up 2%.\nCombined tax pools at the end of the first quarter 2018 were approximately $16.6 million (CDN).\nFor the quarter ended December 31, 2017, the Company repurchased a total of 9,800 common shares at an average price of $10.12 for a total cost of $99 thousand.\nThe Company's Board of Directors has approved a quarterly dividend of $0.08 per common share for shareholders of record as at March 1, 2018 to be paid on March 15, 2018, which is treated as an eligible dividend under the Income Tax Act (Canada). \n\nJim Wilson, Pr...