Business
Sylogist Reports 3rd Quarter 2009 Significant Revenue and Earnings Growth
/THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATI...
About this update from Sylogist Ltd.
[{"type":"text","content":"\n\n\n\n/THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE\nSERVICES OR FOR DISSEMINATION IN THE UNITED STATES./\n\n\nCALGARY, Aug. 27 /CNW/ - Sylogist Ltd. (TSX-V:SYZ), a leading provider of\nenterprise information management solutions to municipal, education and\nenterprise customers is pleased to release its unaudited financial results for\nthe third quarter and nine months ended June 30, 2009.\n\n\nIn the third quarter:\n\n- Revenues increased 40% to $2.7 million from $1.9 million during the\n same period last year.\n\n- Margins improved to 54% up from 42% in the same quarter in fiscal\n 2008.\n\n- Earnings improved to $389 thousand or $0.02 per share, compared to a\n loss of $107 thousand in the same quarter last year.\n\n- Cash flow from operations was $577 thousand or $0.04 per share, an\n improvement of $505 thousand from the same period last year.\n\n- Cash and cash equivalents as at June 30, 2009 totalled $4.5 million.\n\n- Working capital (net of deferred revenue) was $6.2 million or $0.37\n per share.\n\n- Quarter over Quarter profit improved by 78% from the second to the\n third quarter of fiscal 2009.\n\nIn the first 9 months:\n\n- Revenues increased 30% to $6.8 million from $5.2 million compared to\n the first 9 months of last year.\n\n- Margins improved to 51% up from 38% in the comparable first 9 months\n of fiscal 2008.\n\n- Earnings improved to $775 thousand or $0.05 per share as compared to\n a loss of $1.1 million in the same period last year.\n\n- Cash flow from operations was $1.3 million or $0.08 per share, an\n improvement of $1.6 million over the same period last year.\n\n\n"The third quarter financial results continued the improvement shown in\nthe first half of fiscal 2009. Revenue, margins, cash flow and profit were all\nsignificantly better than previous year results, while revenue, cash flow from\noperations, and profit in the third quarter showed strong improvement over the\nsecond quarter results." stated Jim Wilson, Chairman, President and CEO.\n\n\nAbout Sylogist\n--------------\n\n\nSylogist provides leading financial enterprise information management,\nsystem connectivity solutions and portal applications to municipal, education\nand private sector customers.\n\n\nFull financial statements together with Management's Discussion and\nAnalysis are available on SEDAR....