Posted by Tecsys | February 27, 2020
Montreal, February 27, 2020— Tecsys Inc. (TSX: TCS), an industry-leading supply chain management software company, today announced its results for the third quarter of fiscal year 2020, ended January 31, 2020. All dollar amounts are expressed in Canadian currency and are prepared in accordance with International Financial Reporting Standards (IFRS).
Third Quarter Highlights:
“We are actively transforming Tecsys into a global SaaS software company. Our acquisitions are successfully integrating and we are winning in Europe, in North America and across all of our verticals. We are pleased to continue this excellent momentum of delivering another strong quarter of financial results. We are experiencing strong SaaS bookings for new customers and we are starting to see SaaS bookings from our existing customers that have made the decision to migrate to SaaS. This not only creates added recurring revenue but also increases our ability to provide world-class value to those customers. All verticals contributed nicely to the results, with new hospital networks joining us, an existing network expanding very significantly and some great wins in complex distribution” said Peter Brereton, President and CEO of Tecsys Inc. “We continue to successfully drive operational efficiencies, focus on long-term profitable growth, and deliver superior returns to our shareholders.”
Mark Bentler, Chief Financial Officer of Tecsys Inc., added, “We are pleased with another record setting bookings and revenue quarter and continued strength in SaaS results. Our year to date operating results are ahead of our plan. We continue to transition our revenue base away from a perpetual license model and towards a higher-quality, stable, recurring SaaS licensing model. This will have an impact on operating results in the intermediate term. We believe that this accelerated transition to SaaS will provide an excellent outcome for both customers and shareholders.”
First Nine Months of fiscal 2020 Highlights:
Today the Company declared a quarterly dividend of $0.06 per share payable on April 9, 2020 to shareholders of record at the close of business on March 19, 2020.
Pursuant to the Canadian Income Tax Act, dividends paid by the Company to Canadian residents are considered to be “eligible” dividends.
For financial tables click here
Third Quarter 2020 Results Conference Call
Date: February 28, 2020
Time: 8:30 am (EST)
Phone number: (416) 981-0147 or (888) 223-5127
The call can be replayed until March 6, 2020 by calling (416) 626 4100 or 1 (800) 558 5253 (access code: 21952932).
Tecsys is a global provider of transformative supply chain solutions that equip growing organizations with industry-leading services and tools to achieve operational greatness. Tecsys’ solutions are designed to create clarity out of the complex supply chain challenges that organizations with increases in scale, customer expectations and inventory. Built on an enterprise platform, Tecsys solutions include warehouse management, distribution and transportation management, supply management at point-of-use, retail order management, as well as complete financial management and analytics solutions. Through the co-creation of a more responsive supply chain, Tecsys ensures that growth-minded organizations have the chance to thrive and reach their aspirations. For more information on Tecsys’ supply chain solutions, visit www.tecsys.com.
Customers around the world 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 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, 2019. These documents have been filed with the Canadian securities commissions and are available on our website (www.tecsys.com) and on SEDAR (www.sedar.com).
Copyright © Tecsys Inc. 2019. All names, trademarks, products, and services mentioned are registered or unregistered trademarks of their respective owners.
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