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Sylogist Fiscal 2019 and Q4 Results, Company achieves record Adjusted EBITDA
Sylogist Fiscal 2019 and Q4 Results, Company achieves record Adjusted EBITDA Canad...
About this update from Sylogist Ltd.
[{"type":"text","content":"\n\n\n\nSylogist Fiscal 2019 and Q4 Results, Company achieves record Adjusted EBITDA\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, Jan. 16, 2020\n\n\n\n/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./\n CALGARY, Jan. 16, 2020 /CNW/ - Sylogist Ltd. (TSXV:SYZ) (\"Sylogist\" or the \"Company\"), a provider of enterprise information management solutions, is pleased to announce its audited financial results for the fiscal year ended September 30, 2019.\n\n \n \n\n \nFiscal 2019 Highlights (Comparisons are to fiscal 2018, unless otherwise noted)\nRevenues were $37.6 million, compared to $38.2 million, a decrease of 2%. Gross profit margins improved to 76% of revenue, compared to 73%. Reported earnings were $10 million ($0.44 per share) compared to $13.2 million ($0.59 per share).  Fiscal 2018 earnings were higher in part due to a one time, non-cash, bargain purchase price gain on acquisition of $2.7 million recorded in Q4 of that year.  Additionally, fiscal 2019 earnings yielded increased income taxes. Adjusted EBITDA(1) was $17.6 million ($0.78 per share), compared to $17 million ($0.76 per share), an increase of 4%. Adjusted EBITDA Margin (1) was 47%, compared to 44%. Cash from operating activities (before non-cash changes in working capital) was $13.2 million ($0.58 per share), compared to $15.7 million ($0.70 per share). Cash as at September 30, 2019 totalled $53.1 million or $2.24 per share. Sylogist has no debt. Combined tax pools at the end of the fiscal year 2019 were approximately $13.7 million (CAD). The Company paid regular dividends to shareholders totalling $8.7 million in fiscal 2019, compared to $8.3 million (regular and special) in fiscal 2018. For the fiscal year ended September 30, 2019, the Company repurchased a total of 191,900 common shares at an average price of $12.81 for a total cost of $2.5 million. There are currently 23.8 million Sylogist shares outstanding.Q4 2019 Summary (Comparisons are to Q4 2018, unles...