Posted by Tecsys | February 24, 2021
Montreal, February 24, 2021— Tecsys Inc. (TSX: TCS), an industry-leading supply chain management SaaS company, today announced its results for the third quarter of fiscal year 2021, ended January 31, 2021. All dollar amounts are expressed in Canadian currency and are prepared in accordance with International Financial Reporting Standards (IFRS).
Third Quarter Highlights:
“Our performance for the third quarter of fiscal 2021 continues to reflect momentum in the market for Tecsys solutions,” said Peter Brereton, president and CEO of Tecsys Inc. “This is our eighth straight quarter reporting record revenue. The second major COVID wave delayed some deals into our fourth quarter resulting in a significant new business pipeline for the last quarter of our fiscal year. As that wave subsides, these deals are coming in. We were delighted to sign six new accounts in the quarter, three of which were major accounts that signed small initial orders with some significant growth to come. Our developing partner ecosystem continues to have a solid impact on our pipeline and deal flow.”
Mark Bentler, chief financial officer of Tecsys Inc., added, “We expect to see our SaaS revenue continue on its growth trend and we expect this to come from both expansion and migrations of our base customers as well as from new customer wins. With regard to new customer wins, we are pleased with the addition of two new hospital networks during the quarter.”
Year-to-date performance for first nine months of fiscal 2021 ended January 31, 2021
On February 24, 2021, the Company declared a quarterly dividend of $0.065 per share payable on April 8, 2021 to shareholders of record at the close of business on March 18, 2021.
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 Fiscal 2021 Results Conference Call
Date: February 25, 2021
Time: 8:30am EST
Phone number: (800) 698-1231 or (416) 981-0147
The call can be replayed until March 4, 2021 by calling:
(800) 558-5253 or (416) 626-4100 (access code: 21991616)
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. 2021. 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 Q3 2021 Financial Statements.
ii See Non-IFRS Performance Measures in Management’s Discussion and Analysis of the Q3 2021 Financial Statements.
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