Home » Picture Gallery, Software » TECSYS Reports Financial Results for First Quarter Fiscal 2018

TECSYS Reports Financial Results for First Quarter Fiscal 2018




MONTREAL, QUEBEC — (Marketwired) — 09/07/17 — TECSYS Inc. (TSX: TCS), an industry-leading supply chain management software company, today announced its results for the first quarter of fiscal year 2018, ended July 31, 2017. All dollar amounts are expressed in Canadian currency and are prepared in accordance with International Financial Reporting Standards (IFRS) and are unaudited.

“The first quarter of our fiscal year covers the summer months and is typically our slowest quarter. This year however we experienced increased sales activity in the quarter resulting in a record level of contract bookings for a first quarter. Included in the new bookings is a contract from a provincial liquor board, the fourth to choose TECSYS for its SCM needs and another from one of our largest existing customers for additional distribution centre deployment,” said Peter Brereton, President and CEO of TECSYS Inc. “The continued adoption of TECSYS solutions as the standardized platform for our customers and entire sectors is a testament to both the agility and reliability of our software. Today–s rapidly evolving supply chain requires agile solutions that the old monolithic systems struggle to provide.”

“In order to provide more clarity to our investors, beginning this quarter we have regrouped cloud, maintenance and subscription revenue on a separate line on the Consolidated Statements of Income and Comprehensive Income. This revenue stream, which is mostly recurring in nature, grew by 7% in the quarter,” said Brian Cosgrove, the Chief Financial Officer of TECSYS Inc.

First Quarter Highlights:

“The strong bookings are expected to translate into revenue growth in future quarters. In the meantime, we experienced increasing operating costs and lower profits in the quarter as we incurred sales commission expenses and applied additional resources to ensure a successful launch of a new point-of-use healthcare solution,” added Mr. Brereton. “The solution is now live at a large U.S. hospital network and will serve as a model for further implementations in fiscal 2018.”

The Company has declared a dividend of $0.045 per share to be paid on October 6, 2017 to shareholders of record at the close of business on September 22, 2017.

Pursuant to the Canadian Income Tax Act, dividends paid by the Company to Canadian residents are considered to be “eligible” dividends.

About TECSYS

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, 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 needs 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 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, 2017. These documents have been filed with the Canadian securities commissions and are available on our website () and on SEDAR ().

Copyright © TECSYS Inc. 2017. All names, trademarks, products, and services mentioned are registered or unregistered trademarks of their respective owners.

Contacts:
Solutions and general info:
Investor relations:
(514) 866-5800 ext. 4120
Media relations:

TECSYS Inc.
(514) 866-0001 or (800) 922-8649





Posted by on 7. September 2017. Filed under Picture Gallery, Software. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

Leave a Reply

Archive

© 2017 So-Co-IT. All Rights Reserved. Log in - Copyright by LayerMedia


Blogverzeichnis - Blog Verzeichnis bloggerei.de Blog Top Liste - by TopBlogs.de Bloggeramt.de