TECSYS Reports Preliminary Financial Results for Q4 and Fiscal Year 2016
MONTREAL, May 16, 2016 — TECSYS Inc. (TSX: TCS), an industry-leading supply chain management software company, today reports preliminary financial results for the fourth quarter and fiscal year 2016 ending April 30, 2016. All dollar amounts are expressed in Canadian currency.
For Q4 and Fiscal Year 2016, the Company expects to report:
||$ 20.0M – 21.0M
||$ 66.3M – 67.3M
||$ 2.5M – 3.2M
||$ 5.8M – 6.5M
"The business was firing on all cylinders during the quarter and we completed the product build cycle for our next generation Point-of-Use technology allowing for significant product shipments that equalled about 12% of our total revenues," said Mr. Peter Brereton, President and CEO of TECSYS Inc. "We continue to believe TECSYS is well positioned to transform how hospitals and health systems are managing their supplies to drive productivity, patient safety, and overall cost reduction. While we had an exceptional quarter, the expected results are best viewed in the context of the full year given the product build cycle mentioned above,” added Mr. Brereton.
Non-IFRS Performance Measure
EBITDA does not have a standardized meaning prescribed by IFRS, therefore, this measure may not be comparable to similar measures presented by other companies. EBITDA is calculated as earnings before interest expense, interest income, income taxes, depreciation, and amortization. TECSYS has not provided a reconciliation of Q4 FY 2016 or FY2016 preliminary EBITDA to income (the most directly comparable operating IFRS measure) because the information necessary for a quantitative reconciliation will not be available until completion of the audit of our financial statements for the year ended April 30, 2016.
Note about Preliminary Results
The financial results presented in this release are preliminary and may change. This preliminary financial information includes calculations or figures that have been prepared internally by management and have not been reviewed or audited by TECSYS’ auditors. There can be no assurance that TECSYS’ actual results for the period presented herein will not differ from the preliminary financial data presented herein and such changes could be material. This preliminary financial data should not be viewed as a substitute for full financial statements prepared in accordance with IFRS and is not necessarily indicative of the results to be achieved for any future periods.
TECSYS provides transformative supply chain solutions that equip our customers to succeed in a rapidly-changing omni-channel world. TECSYS solutions are built on a true enterprise supply chain platform, and include warehouse management, distribution and transportation management, supply management at point-of-use, as well as complete financial management and analytics solutions. Customers running on TECSYS' Supply Chain Platform are confident knowing they can execute, day in and day out, regardless of business fluctuations or changes in technology, they can adapt and scale to any business need or size, and they can expand and collaborate with customers, suppliers and partners as one borderless enterprise. From demand planning to demand fulfillment, TECSYS puts power into the hands of both front line workers and back office planners, and unshackles business leaders so they can see and manage their supply chains like never before.
TECSYS is the market leader in supply chain solutions for health systems and hospitals. Over 600 mid-size and Fortune 1000 customers trust their supply chains to TECSYS in the healthcare, service parts, third-party logistics, and general wholesale high-volume distribution industries. TECSYS' shares are listed on the Toronto Stock Exchange under the ticker symbol TCS.
Forward Looking Statements
The statements in this web site 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, 2016. These documents have been filed with the Canadian securities commissions and are available on this Web site and on SEDAR .
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