TECSYS Inc. Announces Net Income of $436K for Q3, 2007;
MONTREAL (February 27, 2007) – TECSYS Inc. (TSX: TCS), an industry-leading Supply Chain Management software company announced today its financial results for the third quarter of fiscal year 2007 ended January 31st, 2007. All dollar amounts are expressed in U.S. currency and reported in accordance with Canadian Generally Accepted Accounting Principles (GAAP) with a reconciliation to the United States GAAP, and are unaudited. All comparable figures for the prior periods have been restated as per TECSYS’ August 15th, 2006 press release.
Highlights of the Third Quarter include:
Total Gross margin increased to 40%, up from 35% in the comparable quarter of last year
EBITDA was $679K, up from $41K in the comparable quarter of the prior year
Earnings from operations were $256K, up from a loss of $6K in the comparable quarter of last year
Cash from operations amounted to $730K, up from $532K in the comparable quarter of last year
Net Earnings were $436K or 3 cents per share
Revenue was $7.9 million, down from $9.5 million in the comparable quarter of last year, due mainly to lower third party products, but up by 4% over the prior quarter
Backlog amounted to $14.2M, up from $13.9 at the end of the prior quarter
The Company signed four new customers, including:
Wagner Equipment Co., a major Caterpillar
