Posted by Adam Polka | November 29, 2018
Montreal, November 29, 2018 — Tecsys Inc. (TSX: TCS) an industry-leading supply chain management software company, today announced its results for the second quarter of fiscal year 2019, ended October 31, 2018. The unaudited interim financial statements are prepared in accordance with International Financial Reporting Standards (IFRS). All dollar amounts are expressed in Canadian dollars unless otherwise indicated.
“We have achieved record quarterly bookings driven by healthcare base accounts which grew 196% YoY,” said Peter Brereton, President and CEO of Tecsys Inc. “We are off to a good start with our recent acquisition, OrderDynamics. The OrderDynamics platform processed $40M worth of orders during black Friday week, an impressive 144% increase over last year. Our pipeline remains strong and we will focus on capitalizing on our strong market position by growing our sales team and investing in marketing as we look to the second half of the year.”
*Recognized $4.6 million of Canadian federal non-refundable R&D tax credit
“The comparison of FY19 Q2 Operating Profit and EBITDA to prior year results is challenging given the impact of (a) $1.0 million of deferred professional services revenue recognized in FY18 Q2 resulting from the contract termination in that prior period and (b) costs related to the acquisition of OrderDynamics and stock-based compensation expenses of $0.2 million recognized in the current period. That said, we are pleased with FY19 Q2 profitability and will continue to invest in sales and marketing and research and development to take advantage of market opportunity” said Mark J. Bentler, Chief Financial Officer.
The Company has increased its dividend to $0.055 per share to be paid on January 11, 2019 to shareholders of record at the close of business on December 21, 2018.
Pursuant to the Canadian Income Tax Act, dividends paid by the Company to Canadian residents are considered to be “eligible” dividends.
Date: November 30, 2018
Time: 8:30 am EST
Phone number: (416) 981-9070 or (888) 224-3715
The call can be replayed until December 7th, 2018 by calling (416) 626-4100 or (800) 558 5253 (access code: 21900462). View the Q2 FY2019 Financial Statements (PDF, 51K)
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.
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, 2018. 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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