Press Release

TECSYS Reports 14% Revenue Growth in Q3, 2012

MONTREAL, March 1, 2012—TECSYS Inc. (TSX: TCS), an industry-leading supply chain management software company, announced today its results for the third quarter of fiscal year 2012, ended January 31, 2012. All dollar amounts are expressed in Canadian currency and are prepared in accordance with the International Financial Reporting Standards (IFRS) and are unaudited.

Highlights of the Third Quarter include:


TECSYS also announced today that the Company's Board of Directors has declared a semi-annual dividend of $0.03/share, to be paid on March 30th, 2012 to shareholders of record on March 16, 2012.

Peter Brereton, President and CEO of TECSYS Inc., commented on the results: "Q3 was a good quarter from a number of perspectives; we grew our revenue for both products and services, improved our recurring revenue, continued to strengthen our human resources infrastructure and following quarter end we announced five exciting products at a major industry show. The revenue growth reflects the improved market conditions we have experienced in recent months. It also reflects the resurgence of the heavy equipment service parts market which resulted in two of our new account wins in the quarter. Furthermore, our customer base invested significantly in our products and services and our services' organization accelerated the deployment of our software, completing the go-lives of nineteen customer sites. Service excellence remains a core part of our culture and we have increased our headcount, particularly in services, to continue to meet the needs of our growing customer base."

During the quarter, the Company won the business of eight new clients, including:

  • A healthcare products and services supplier in the U.S.
  • Two major heavy equipment dealers in the U.S.
  • A promotional products manufacturer and distributor in Canada
  • A U.S.-based importer of packaged food ingredients
  • An arts and crafts distributor in the U.S.
  • Two industrial distributors in Canada

Highlights of the first Nine Months of fiscal year 2012 include:

  • Revenue for the first nine months, 2012 increased 6% to $28.7M compared to $27.2 for the same period of last fiscal year.
  • Profit from operations for the first nine months, 2012 was $720K compared to $870K for the same period of last fiscal year.
  • Net profit for the first nine months, 2012 was $584K or $0.05 per share compared to $1,079K or $0.09 per share for the same period of the prior fiscal year. EBITDA for the first nine months, 2012 was $1,802K compared to $2,117K for the same period in 2011. The comparable nine-month period of last year included a revaluation of the fair value of asset backed commercial paper which increased net profit by $302K.

TECSYS' Third Quarter FY2012 Earnings Conference Call:

Date: March 1, 2011
Time: 4:30 p.m. EST
Phone number: 800-269-0310 or 416-359-3126

The call can be replayed by calling 800-558-5253 (access code: 21580804) or 416-626-4100 (access code: 21580804).

View the Q3 FY2012 Financial Statements (PDF, 80K)

Related link: Mobility and Point-Of-Use Innovations Driving TECSYS' WMS Well Beyond the Current Competitive Landscape


About TECSYS

TECSYS is a leading supply chain management software provider that delivers powerful enterprise distribution, warehouse and transportation logistics software solutions. The company's customers include over 600 mid-size and Fortune 1000 corporations in healthcare, heavy equipment, third-party logistics, and general wholesale high-volume distribution industries. TECSYS' shares are listed on the Toronto Stock Exchange under the ticker symbol TCS.

Contact

Solutions and general info: info@tecsys.com
Investor relations: investor@tecsys.com
Media relations: media@tecsys.com
By phone: (514) 866-0001 or (800) 922-8649

 

The statements in this news release relating to matters that are not historical fact are forward looking statements that are based on management's beliefs and assumptions. Such statements are not guarantees of future performance and are subject to a number of uncertainties, including but not limited to future economic conditions, the markets that TECSYS Inc. serves, the actions of competitors, major new technological trends, and other factors beyond the control of TECSYS Inc., which could cause actual results to differ materially from such statements. More information about the risks and uncertainties associated with TECSYS Inc.'s business can be found in the MD&A section of the Company's annual report and annual information form for the fiscal year ended April 30th, 2013. These documents have been filed with the Canadian securities commissions and are available on this Web site and on SEDARExternal Link.

Copyright © TECSYS Inc. 2014. All names, trademarks, products, and services mentioned are registered or unregistered trademarks of their respective owners.

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