Posted by Tecsys | December 2, 2020
Montreal, December 2, 2020 — Tecsys Inc. (TSX: TCS), an industry-leading supply chain management software company, today announced its results for the second quarter of fiscal year 2021, ended October 31, 2020. All dollar amounts are expressed in Canadian currency and are prepared in accordance with International Financial Reporting Standards (IFRS).
Second Quarter Highlights:
“Our performance for the second quarter of fiscal 2021 represents a continuation of positive business momentum that we have been experiencing,” said Peter Brereton, president and CEO of Tecsys Inc. “This is our seventh straight quarter reporting record revenue. The pandemic has had minimal negative effect on our business and solid growth in our pipeline bodes well for our financial performance for the remainder of fiscal 2021 and beyond. Our trailing twelve month SaaS bookings are up 159% compared to prior trailing twelve to a large extent driven by an explosion of business coming from our customer base. Finally, volume on our distributed order management platform was up 140% for the black Friday period compared to last year.”
Mark Bentler, chief financial officer of Tecsys Inc., added, “SaaS revenue continues to be our fastest growing revenue stream and in the second quarter of fiscal 2021 represented 38% of total cloud, maintenance and subscription revenues, up from 21% in the prior year period. We continue to see strong demand and the transition to SaaS continues with 81% of our product bookings coming from SaaS in the first half of fiscal 2021 compared to 75% for the same period last year. While we continue to see some demand for perpetual licenses, the longer term trend toward SaaS appears solid.”
Year-to-date performance for first half of fiscal 2021
On December 2nd, 2020, the Company declared a quarterly dividend of $0.065 per share payable on January 8, 2021 to shareholders of record at the close of business on December 17, 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
Second Quarter Fiscal 2021 Results Conference Call
Date: December 3, 2020
Time: 8:30am EST
Phone number: (800) 931 6427 or (416) 981 0157
The call can be replayed until December 10, 2020 by calling:
(800) 558 5253 or (416) 626 4100 (access code: 21972640)
Tecsys is a global provider of supply chain solutions that equip the borderless enterprise for growth. Organizations thrive when they have the software, technology and expertise to drive operational greatness and deliver on their brand promise. Spanning healthcare, retail, service parts, third-party logistics, and general wholesale high-volume distribution industries, Tecsys delivers dynamic and powerful solutions for warehouse management, distribution and transportation management, supply management at point of use, retail order management, as well as complete financial management and analytics solutions. Tecsys’ shares are listed on the Toronto Stock Exchange under the ticker symbol TCS. For more information on Tecsys, visit www.tecsys.com.
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 30, 2020. 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. 2020. All names, trademarks, products, and services mentioned are registered or unregistered trademarks of their respective owners.
i See Key Performance Indicators in Management’s Discussion and Analysis of the Q2 2021 Financial Statements.
ii See Non-IFRS Performance Measures in Management’s Discussion and Analysis of the Q2 2021 Financial Statements.
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