Business
Sylogist Reports Improved Financial Results
/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\nEDMONTON and CALGARY, Aug. 20 /CNW/ - Sylogist Ltd. (TSX-V:SYZ), a\nleading provider of enterprise information management solutions to municipal,\neducation and enterprise customers releases its unaudited financial results\nfor the 3 months ended June 30th , 2008. In the quarter:\n\n\n- Revenues increased to $1.9 million from $1.6 million in the second\n quarter and from $1.7 million in the same quarter last year.\n\n- Positive cash flow from operations of $72 thousand compared\n favourably with the previous quarter's loss of $262 thousand and a\n loss of $252 thousand in the same quarter last year.\n\n- Cash and cash equivalents at the end of the quarter amounted to\n $4.5 million while working capital totalled $4.1 million.\n\n\n"The third quarter financial results for 2008 demonstrated an improvement\nover the previous quarter and the comparable period last year in terms of\nrevenue, expenses and cash flow. We are pleased the Company has generated\npositive cash flow from operations and recent changes are producing improved\nresults" stated Jim Wilson, Chairman, President and CEO.\n\n\nAbout Sylogist\n--------------\n\n\nSylogist provides leading financial enterprise information management and\nportal applications to municipal, education and private sector customers. Our\nintegrated suite of business applications for municipalities and school boards\nfulfill requirements for revenue, budgeting, finance, board management,\noperations and student information.\n\n\nFull financial statements together with Management's Discussion and\nAnalysis are available on SEDAR.\n\n\nThe Company's stock is traded on the TSX Venture Exchange under the\nsymbol SYZ. Information about Sylogist can be found at\nhttp://www.sylogist.com.\n\n\nForward-looking Statements\n--------------------------\n\n\nThis press release contains statements about expected or anticipated\nfuture events and financial results that are forward-looking in nature and, as\na result, are subject to certain risks and uncertainties, such as general\neconomic, market and business conditions, the regulatory process and actions,\ntechnical issues, new legislation, competitive and general economic factors\nand conditions, the uncertaint...