Business
Sylogist Q2 Results: Revenue and Earnings Grow, Dividend Increased 25%, IP Advanced.
May 6, 2011 (Canada NewsWire Group) -- /THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED...
About this update from Sylogist Ltd.
[{"type":"text","content":"\n\n\n May 6, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\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, May 6 /CNW/ - Sylogist Ltd. (TSXV: SYZ), a provider of\n technology based IP solutions, is pleased to release its unaudited\n financial results for the second quarter of fiscal 2011 ended March 31,\n 2011.\n\n\nIn the second quarter of fiscal 2011:\n\n\n\nRevenues increased 9.8% to $2.5 million from $2.3 million in the first\n quarter.\n\n\nGross profit margin was 70%, up from 59% in the same quarter last year.\n\n\nEBITDA was $1.0 million ($0.05 per share) compared to $0.8 million in\n the previous quarter.\n\n\nCash and cash equivalents as at March 31, 2011 totalled $16.2 million\n ($0.80 per share).\n\n\nWorking capital (net of deferred revenue) was $17 million or $0.84 per\n share.\n\n\nCombined tax pools at the end of March 2011 were approximately $12\n million.\n\n\nThe Sylogist Board declared a quarterly dividend of 2.5 cents per common\n share, a 25% increase over the previous quarter.\n\n\nSylogist repurchased 152,100 shares under its normal course issuer's bid\n in the quarter.\n\n\n$0.5 million (US) was invested in Aviation Capital Enterprises, Inc., a\n private Alberta company.\n\n\n\nIn the first 6 months of fiscal 2011:\n\n\n\nRevenue was $4.8 million.\n\n\nGross profit margin was 71%.\n\n\nEBITDA was $1.8 million or $0.09 per share.\n\n\n\nFor the trailing 12 month ...