Business
TECSYS Winning Momentum Continues With Key New Customers and Improved Earnings
TECSYS Winning Momentum Continues With Key New Customers and Improved Earnings.
About this update from Tecsys Inc.
[{"type":"text","content":"\n\n\n\nMONTREAL, Sept. 11 /CNW Telbec/ - TECSYS Inc. (TSX: TCS), an\nindustry-leading supply chain management software company announced today its\nresults for the first quarter of fiscal year 2008, ended July 31st, 2007. All\ndollar amounts are expressed in U.S. currency and reported in accordance with\nCanadian Generally Accepted Accounting Principles (GAAP) and are unaudited.\n\n\nHighlights of the First Quarter include:\n\n\n- Revenue was $7.8M in Q1 of fiscal year 2008, the same as Q1 for last\n fiscal year.\n- Deferred license revenue was $2.2M at the end of the first quarter of\n fiscal 2008, up from $1.7M at the end of the fourth quarter of fiscal\n year 2007; an increase of $456K, and up from $1.0M at the end of the\n first quarter of fiscal year 2007; an increase of $1.2M.\n- Earnings from operations for the quarter were $141K compared to loss\n from operations of $256K for the same quarter of last fiscal year.\n- EBITDA for Q1, 2008 substantially improved to $300K compared to $52K\n for Q1, 2007.\n- Net earnings for the quarter were $82K or $0.01 per share after a loss\n on foreign exchange of $128K compared to net loss of $174K or $0.01 per\n share for the first quarter of last fiscal year.\n- Gross margin percentage increased to 44% in Q1 of fiscal year 2008\n compared to 40% in Q1 of last fiscal year. Gross margin improvement\n reflects an increase in gross margins of both products and services\n compared to the same period in last fiscal year.\n- Total operating expenses for the first quarter of fiscal year 2008\n decreased by $81K to $3.3M or 2%, compared to $3.4M for the same\n quarter of last fiscal year.\n- At the end of the quarter, backlog stood at $16.0M, up from $15.5M at\n the end of Q4 of the prior fiscal year.\n\n\nPeter Brereton, President and CEO of TECSYS Inc. commented on the\nresults: "Q1 reflects the continued improvement to our financial results that\nhave seen a major shift to profitability during the last three quarters. Our\nEBITDA is up substantially in Q1 of 2008 compared to Q1 of 2007 and we\ncontinued to generate cash. I am particularly pleased with the wins in the\nmarkets where we have focused and it is clearly reflected in the substantial\ngrowth in deferred licence revenue. The successful deployment of a record\nnumber of key accounts in healthcare, heavy equipment dealers and hi...