Posted by Adam Polka | July 5, 2018
Montreal, July 5, 2018 — Tecsys Inc. (TSX: TCS), an industry-leading supply chain management software company, today announced its results for the fourth quarter and full year of fiscal year 2018, ended April 30, 2018. All dollar amounts are expressed in Canadian currency and are prepared in accordance with International Financial Reporting Standards (IFRS).
“Fiscal 2018 was very much a year in two parts. In the first half of the year, our results were bolstered by strong bookings in our complex distribution business, offsetting slowness in our U.S. healthcare business. In the second half, our healthcare business began to return to its pre-U.S. election activity. Overall for the year, currency headwinds trimmed revenue by $1.3M and EBITDA by $900K compared to the prior year. Adjusted for currency and the tax adjustment of Q4 Fiscal 17, revenue rose by 5%, while EBITDA rose by 28%,” said Peter Brereton, President and CEO of Tecsys Inc. “As the company enters fiscal 2019 with a steady pipeline, we will remain focused on welcoming the return of healthcare clients and executing on opportunities within our existing vertical markets and customer base, including those with an interest in pharmacy solutions.”
Recently, Tecsys won a design competition from the Supply Chain Advancement Network in Health (SCAN Health) whose mission is to address key problems, challenges and opportunities of high strategic importance for health systems in Canada and around the globe. “We are very pleased that SCAN Health selected Tecsys for the Alberta Health Services’ perioperative services design competition,” said Mr. Peter Brereton, President and CEO of Tecsys. “This represents additional validation of the Tecsys’ solution to improve the performance of perioperative practices. The judges that assessed the competitive solutions were composed of an international panel operating in the healthcare supply chain space. We expect in-hospital solutions will be a growing part of our business in the upcoming years.”
The Company has declared a dividend of $0.05 per share to be paid on August 3, 2018 to shareholders of record at the close of business on July 20, 2018.
Pursuant to the Canadian Income Tax Act, dividends paid by the Company to Canadian residents are considered to be “eligible” dividends.
Date: July 6, 2018
Time: 8:30 am EST
Phone number: (416) 641-6202 or (800) 908-8386
The call can be replayed until July 13, 2018 by calling (416) 626-4100 or (800) 558-5253 (access code: 21891730). View the Q4 FY2018 Financial Statements (PDF, 52K)
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 Platformare 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.
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, 2017. These documents have been filed with the Canadian securities commissions and are available on this Web site and on SEDAR .
Copyright © Tecsys Inc. 2018. All names, trademarks, products, and services mentioned are registered or unregistered trademarks of their respective owners.
Tags: Financial Results, Press Release
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