Posted by Tecsys | June 29, 2022
Montreal, June 29, 2022— Tecsys Inc. (TSX: TCS), an industry-leading supply chain management SaaS company, today announced its results for the fourth quarter and full year of fiscal year 2022, ended April 30, 2022. All dollar amounts are expressed in Canadian currency and are prepared in accordance with International Financial Reporting Standards (IFRS).
Fourth Quarter Highlights:
“Our solid fourth quarter results cap off a compelling year of top-line growth. SaaS bookings drove our double digit Annual Recurring Revenue growth for the year and resulted in SaaS revenue growth of 47% on a constant currency basis. We are proud of our performance as the pandemic headwinds begin to subside and the potential emergence of tailwinds position us for continued growth well into the future.” said Peter Brereton, president and Chief Executive Officer of Tecsys Inc. “Healthcare continues to be a significant contributor as we added another two networks in the quarter for a total of eight in the fiscal year. The rising adoption of our agile end-to-end SaaS supply chain solutions by leading companies as the vendor of choice cements the important role we play in their digital transformation journeys and validates our strategy as well poised for continued success.”
Mark Bentler, chief financial officer of Tecsys Inc., added, “Looking ahead, we believe our evolution as a SaaS company and our drive to expand our partner ecosystem will continue to have an impact on our revenue mix. From an investment standpoint, we believe our existing professional services capacity is adequate for the near term. We believe that our prior investments in sales and marketing put us in a solid position to grow as productivity continues to improve. Our investment in research and development during the fourth quarter will impact Q1 of fiscal 2023, but we expect investment to moderate beyond that point.”
Fiscal 2022 Highlights:
On June 29, 2022, the Company declared a quarterly dividend of $0.07 per share payable on August 5, 2022 to shareholders of record at the close of business on July 15, 2022.
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
Fourth Quarter and Full Year Fiscal 2022 Results Conference Call
Date: June 30, 2022
Time: 8:30am EDT
Phone number: (800) 758-5606 or (416) 641-6662
The call can be replayed until July 7, 2022 by calling:
(800) 558-5253 or (416) 626-4100 (access code: 22019359)
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 the most recently filed annual information form. 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. 2022. 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 2022 Financial Statements.
ii See Non-IFRS Performance Measures in Management’s Discussion and Analysis of the 2022 Financial Statements.
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