Business
Sylogist Q1 2012 Results: Substantial Organic Growth in Revenue of 14%, Cash Flow up 43% and Profit increased 70%
/This press release is not for distribution to United States Newswire Services or for diss...
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, March 26, 2012 /CNW/ - Sylogist Ltd. (TSXV: SYZ), a provider of\n technology based IP solutions, is pleased to release its unaudited\n financial results for the first quarter of fiscal 2012 ended December\n 31, 2011.\n\n\nIn the first quarter of fiscal 2012:\n\n\nRevenues increased 14% to $2.6 million from $2.3 million over last year.\n\nCash flow from operations increased to $1.2 million ($0.06 per share) in\n the quarter up 43% from the same quarter last year.\n\nEBITDA improved 45% to $1.2 million ($0.06 per share) compared to $0.8\n million in the first quarter of fiscal 2011.\n\nExcluding non-cash items, profit was $1.2 million ($0.06 per share).\n Reported profit of $0.7 million was up 70% over the same quarter in\n fiscal 2011.\n\nCash and short term investments as at December 31, 2011 totalled $14\n million ($0.70 per share).\n\nWorking capital (net of deferred revenue) was $13.9 million or $0.70 per\n share.\n\nCombined federal tax attributes at the end of December 2011 were\n approximately $9 million.\n\nDividends totalling $0.10 per share were declared in the quarter\n including a $0.075 per share special dividend.\n\nIFRS was implemented.\n\n\n\"Growth accelerated in the first quarter of fiscal 2012.  Key financial\n metrics including revenue (up 14%), cash flow (up 43%), EBITDA (up 45%)\n and profit (up 70%), demonstrated significant improvements over the\n same quarter in fiscal 2011. With Sylogist's strong balance sheet and\n operating performance, the quarterly eligible dividend paid on March\n 15, 2012 was increased by 20% to $0.03 per common share.\" stated Jim\n Wilson, Chairman, President and CEO.\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. The Company's stock is traded on the TSX Venture\n Exchange under the symbol \"SYZ\".\n\n\n- Neither the TSX Venture Exchange nor its Regulation Services Provider\n (as that term is defined in the policies of the TSX Venture Exchange)\n accepts responsibility for the adequacy or accuracy of this release-...