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TECSYS Reports 38% Annual Revenue Growth in Fiscal 2005 - Revenue Growth of 49% in Q4
TECSYS Reports 38% Annual Revenue Growth in Fiscal 2005 - Revenue Growth of 49% in Q4.
About this update from Tecsys Inc.
[{"type":"text","content":"\n\n\n\n\nMONTREAL, June 21 /CNW Telbec/ - TECSYS Inc. (TSX: TCS), a leading Supply\nChain Management (SCM) software company, announced today its financial results\nfor the fourth quarter and for fiscal 2005 ending April 30, 2005. All dollar\namounts are expressed in U.S. currency and are reported in accordance with\nCanadian Generally Accepted Accounting Principles (GAAP), and are unaudited.\nTECSYS' total revenues for the three months ended April 30, 2005, grew\n49% to $8.1M from $5.5M in Q4 of the prior fiscal year. The company's product\nrevenues for the reporting quarter also grew 76% to $3.4M from $1.9M in the\ncomparable quarter. Operating costs increased by 40% to $3.6M from $2.6M in\nthe comparable quarter. Earnings from operations for the fourth quarter were\n$174K compared to $246K in Q4 of the prior fiscal year. Net earnings for the\ncurrent quarter, after accounting for an exchange gain of $119K, were $334K\ncompared to $361K in the comparable quarter of last year. During the fourth\nquarter, basic earnings per share were $0.02 compared to basic earnings per\nshare of $0.03 for Q4 of fiscal year 2004.\nFor the twelve months of fiscal year 2005, the company's revenue was\n$24.3M compared to the previous fiscal year's revenue of $17.6M, or a revenue\ngrowth of 38%. Earnings from operations for fiscal 2005 were $465K compared to\nearnings from operations of $463K for fiscal 2004. Net earnings for fiscal\nyear 2005, after accounting for an exchange loss of $284K, were $334K compared\nto net earnings of $415K in the prior fiscal year. This resulted in a basic\nearnings per share of $0.02 in fiscal year 2005 compared to a basic earnings\nper share of $0.03 in fiscal year 2004. The 6% rise in the cost of the\nCanadian dollar compared to the previous year's average impacted the business\nby a total of $713K including the $284K foreign exchange losses specifically\nreflected on the income statement.\nTECSYS continued to maintain a strong cash position, generating $768K\nfrom operations, investing $2.6M in acquisitions and the repurchase of common\nshares for cancellation and ending the year with $7.3M. Days sales outstanding\n(DSO) was 70 days at the end of April 30, 2005.\n\nSeveral key milestones were achieved in the fourth quarter:\n\n- The acquisition of Application Solutions Inc. (now the Logistics\n Management Group of...