Business
Tecsys Inc. 83% Revenue Growth Hits All-Time High
Tecsys Inc. 83% Revenue Growth Hits All-Time High.
About this update from Tecsys Inc.
[{"type":"text","content":"\n\n\n\n\nMONTREAL, Feb. 28 /CNW Telbec/ - TECSYS Inc. (TSX: TCS), an industry-\nleading supply chain management software company announced today its financial\nresults for the third quarter of fiscal 2006 ending January 31st, 2006. All\ndollar amounts are expressed in U.S. currency and reported in accordance with\nCanadian Generally Accepted Accounting Principles (GAAP) with a reconciliation\nto the United States GAAP, and are unaudited.\n\nFinancial highlights for the three months include:\n\n- Revenue increased to $9.7M from $5.3M in the same quarter of last year,\n an 83% increase.\n- Product revenue increased to $4.5M from $1.6M in Q3 of the previous\n fiscal year, an increase of 178%.\n- Services revenue increased to $4.9M from $3.6M in Q3 of the previous\n fiscal year, an increase of 38%.\n- Earnings from operations for the quarter were $221,000 compared to\n $112,000 for the same period in the previous year.\n- After an investment of $376,000 in TLA (TECSYS Latin America) and the\n Company's Stock buy back of $120,000 during the quarter, cash increased\n to $7.1M compared to $7.0M at the end of the prior fiscal quarter.\n\nFinancial highlights for the nine months include:\n\n- Revenue for the nine months increased to $26.7M from $16.1M in the\n comparable period of last year, an increase of 65%.\n- Product revenue increased to $11.3M from $5.2M in the first nine months\n of the previous year, an increase of 116%.\n- Services revenue increased to $14.8M from $10.4M in the first nine\n months of the previous year, an increase of 42%.\n- Earnings from operations for the nine months were $353,000 compared to\n $291,000 for the same period in the previous year.\n\n\"We are pleased with this resurgence in the supply chain management\nindustry. The combination of organic and acquisition-related growth has\nresulted in an all-time high of our top line in this quarter. We are\ncontinuing our drive for customer acquisition in North America, South America,\nas well as, taking advantage of our new initiative in Europe to further our\npenetration of the SCM market.\" said Peter Brereton, President and Co-CEO of\nTECSYS Inc.\n\nOther key achievements in the third quarter include:\n\n New Accounts:\n\n - A major distributor for the world's leading manufacturer of\n construction, mining, agriculture and transportation equipment\n servin...