Business
TECSYS Signs Seven New Customers in Fourth Quarter Generates Cash of $2.6M
TECSYS Signs Seven New Customers in Fourth Quarter Generates Cash of $2.6M.
About this update from Tecsys Inc.
[{"type":"text","content":"\n\n\n\nMONTREAL, July 5 /CNW Telbec/ - TECSYS Inc. (TSX: TCS), an\nindustry-leading supply chain management software company announced today its\nresults for the fourth quarter and full fiscal year 2007, ended April 30th,\n2007. Results for the full 2007 fiscal year are audited. All dollar amounts\nare expressed in U.S. currency and reported in accordance with Canadian\nGenerally Accepted Accounting Principles (GAAP).\n\n\nHighlights for the fourth quarter include:\n\n- The Company signed seven new customers, including:\n - ROE Logistics, a Montreal-based global provider of logistics\n services.\n - Two major Caterpillar(R) dealers in the U.S.\n - One import-to-retail distributor and a giftware\n manufacturer/distributor in Ontario.\n - Terrace Supply Company, a distributor of welding equipment and\n supplies in Illinois.\n - telent plc, a leading provider of technology services in the U.K.\n- Revenue increased 5% or $396K to $7.8M in fiscal 2007 compared to $7.4M\n for the same quarter of the last fiscal year. Deferred license revenue\n increased to $1.725M at the end of the fourth quarter from $1.221M at\n the end of the third quarter; an increase of 41%.\n- Earnings from operations for the quarter were $46K compared to loss\n from operations of $1.3M for the same quarter of last fiscal year.\n- EBITDA for Q4, 2007 improved to $126K compared to negative EBITDA of\n $1.154M for Q4, 2006.\n- Gross margin percentage increased to 38% in Q4 of fiscal year 2007\n compared to 32% in Q4 of last fiscal year. Gross margin improvement for\n the quarter includes a substantial increase in Services' gross margin\n to 36% in 2007 from 13% in 2006.\n- Total operating expenses for the fourth quarter of fiscal year 2007\n decreased by $698K or 19% to $2.9 million, compared to $3.6 million for\n the same quarter of last fiscal year.\n- Net loss for the quarter was $125K ($0.01 per share) compared to net\n loss of $1.4M ($0.10 per share) for the fourth quarter of last fiscal\n year.\n- At the end of the quarter, backlog stood at $15.5M, up from $14.9M at\n the end of Q4 of the prior fiscal year.\n- The Company's cash position increased by $2.6M during the quarter.\n\nPeter Brereton, President and CEO of TECSYS Inc. commented on the results:\n"We believe that the positive returns in the second half of the year\ndemonstrate clearly that our s...