Business
Sylogist Ltd. Third Quarter Fiscal 2013 Results: Organic Growth in Revenue (up 41%), EBITDA(1) (up 82%), Profit (up 111%): Dividend Increased
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About this update from Sylogist Ltd.
[{"type":"text","content":"\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, Aug. 26, 2013 /CNW/ - Sylogist Ltd. (TSXV:SYZ), a provider of\n enterprise application solutions to public and private sector\n customers, announces its unaudited financial results for the third\n quarter of the 2013 fiscal year ended June 30, 2013.\n\n\nIn Q3 of Fiscal 2013:\n\n\nNet income before tax and acquisition costs increased to $1.5 million or\n $0.08 per fully diluted share, a 128% gain over Q3 in fiscal 2012.\n\n\nCash flow from operations, net of acquisitions costs was $1.6 million\n ($0.08 per share), a 78% improvement over Q3 in the previous year.\n\n\nEBITDA(1) was $1.7 million ($0.09 per share), an 82% increase when compared to\n the same quarter in the previous year.\n\n\nGross profit margins increased from 71% to 79% of revenue compared to Q3\n of fiscal 2012.\n\n\nRevenues were $2.9 million, 41% higher than Q3 revenue in fiscal 2012.\n\n\nTransaction costs incurred in the quarter that related to the Epic Data\n acquisition (closed July 1, 2013 after the end of Q3) were $0.3\n million.\n\n\nProfit after tax was $0.8 million, up 111% compared to Q3 in the\n previous year.\n\n\nRegular quarterly dividend increased to $0.045.\n\n\nIn the first 9 months of Fiscal 2013:\n\n\nNet income before tax and acquisition costs increased to $4.1 million or\n $0.21 per fully diluted share, a 71% gain over the first 9 months in\n fiscal 2012.\n\n\nCash flow from operations, net of acquisition costs, was $4.7 million\n ($0.24 per share), a 48% improvement over the first 9 months of 2012.\n\n\nEBITDA(1) was $4.7 million ($0.24 per share), a 47% increase over the first 9\n months of the previous year.\n\n\nGross profit margins increased from 71% to 79% of revenue compared to\n fiscal 2012.\n\n\nRevenues were $8.4 million, 20% higher than the first 9 months of fiscal\n 2012.\n\n\nCash and short-term investments as at June 30, 2013 totalled $14.4\n million or $0.75 per share.\n\n\nWorking capital (net of deferred revenue) was $15.4 million or $0.80 per\n share.\n\n\nFederal tax pools at the end of Q3 fiscal 2013 stood at $ 2.7 million.\n\n\n\"Organic revenue increased 41% while after tax profit more than doubled\n that of a year earlier establishing a strong platform for growth. We\n are pa...