Sylogist Ltd. Announces Audited Financial Results for the Fourth Quarter and Fiscal Year Ended September 30, 2017
January 16, 2018 at 03:47 pm
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Sylogist Ltd. announced audited financial results for the fourth quarter and fiscal year ended September 30, 2017. Earnings per share increased 13% to CAD 0.09 per share, up from CAD 0.08 per share in fourth quarter of 2016. Gross profit margins improved to 76% of revenue compared to 66% in fourth quarter of 2016. Adjusted EBITDA was CAD 3.2 million, an increase of 21%, or CAD 0.14 per fully diluted share, up 27%. Revenues were CAD 8.0 million, compared to CAD 8.1 million in the fourth quarter last year. Cash generated from operations totaled CAD 1.6 million, up from CAD 343,000 in fourth quarter of 2016.
Reported earnings for the fiscal year ended September 30, 2017 was CAD 7.2 million, an increase of 9%. Earnings per share increased 14% to CAD 0.32 per share, up from CAD 0.28. Adjusted EBITDA was CAD 13.4 million or CAD 0.59 per share, compared to CAD 13.6 million or CAD 0.58 per share, up 2% on a per share basis. Adjusted earnings were CAD 12.4 million or CAD 0.55 per share, compared to CAD 12.4 million or CAD 0.53 per share, a per share increase of 4%. Revenues were CAD 32.9 million, compared to CAD 35.8 million. Cash generated from operations totaled CAD 12 million, up 12%.
Sylogist Ltd. is a Canada-based company, which provides software-as-a-service (SaaS) solutions. The Company provides enterprise resource planning (ERP), constituent relationship management (CRM), fundraising, education administration and payments solutions. It operates through three verticals: SylogistMission, SylogistEd, and SylogistGov. It refers its software solutions and related services for customers outside these three verticals as SylogistServices. SylogistGov offers three cloud-based solutions, such as SylogistGov ERP, tailored for local government needs; SAVIN, an advanced victim notification system, and Grants Manager, streamlining award and grant management processes. The SylogistMission caters nonprofits, non-governmental organization (NGOs), and faith-based organizations. SylogistEd offers enterprise resource planning (ERP) and student information systems. The Company offers Time Clock Now, a comprehensive SaaS solution for streamlining time tracking and scheduling.