Business
Sylogist Q3 Results: Revenue Grows, Cash Flow from Operations up 32%, Declares Dividend
/THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMI...
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, Aug. 22, 2011 /CNW/ - Sylogist Ltd. (TSX: SYZ), a provider of\n technology based IP solutions, is pleased to release its unaudited\n financial results for the third quarter of fiscal 2011 ended June 30,\n 2011.\n\n\nIn the third quarter of fiscal 2011:\n\n\nRevenues increased 10% to $2.6 million from $2.4 million in the same\n quarter last year.\n\n\nGross profit margin was 73%, up from 66% in the same quarter last year.\n\n\nCash flow from operations was $1.1 million in the quarter up 32% from\n the same quarter last year.\n\n\nEBITDA was $1.1 million ($0.05 per share) compared to $0.9 million in\n the previous quarter.\n\n\nCash and short term investments as at June 30, 2011 totalled $14.2\n million ($0.70 per share).\n\n\nWorking capital (net of deferred revenue) was $15.2 million or $0.75 per\n share.\n\n\nCombined federal tax pools at the end of June 2011 were approximately\n $11 million.\n\n\nSylogist repurchased 552,000 shares under its normal course issuer's bid\n in the quarter.\n\n\n$1.5 million (US) was advanced to Aviation Capital Enterprises, Inc., a\n private Alberta company under a secured convertible debenture.\n\n\nThe Sylogist Board declared a quarterly dividend of 2.5 cents per common\n share.\n\n\nIn the first 9 months of fiscal 2011:\n\n\nRevenue was $ 7.5 million.\n\n\nGross profit margin was 72%.\n\n\nEBITDA was $2.9 million or $0.14 per share.\n\n\nFor the trailing 12 month period:\n\n\nRevenue was $ 9.6 million.\n\n\nGross profit margin was 71%.\n\n\nEBITDA was $3.6 million or $0.17 per share.\n\n\n\"Results of the third quarter of fiscal 2011 demonstrated continued\n financial growth. With Sylogist's strong balance sheet and operating\n performance, the Board of Directors declared a quarterly dividend of\n 2.5 cents per common share payable September 20, 2011 to shareholders\n of record as at September 6, 2011. The dividend will be paid as a\n return of capital,\" stated Jim Wilson, Chairman, President and CEO.\n\n\nAbout Sylogist\n\n\nSylogist provides IP technology solutions to municipal, education and\n private sector customers.\n\n\nFull financial statements together with Management's Discussion and\n Analysis are available on SEDAR.\n\n\nThe Com...