TECSYS Reports Record Quarter; 21% Growth in License Fees

MONTREAL, November 26, 2013 — TECSYS Inc. (TSX: TCS), an industry-leading supply chain management software company, announced today its results for the second quarter of fiscal year 2014, ended October 31st, 2013. All dollar amounts are expressed in Canadian currency and are prepared in accordance with the International Financial Reporting Standards (IFRS) and are unaudited.


Overall highlights for the Second Quarter:


Financial highlights for the Second Quarter:


Peter Brereton, President and CEO of TECSYS Inc., commented on the results: "The quarter marked a new set of highs in recent years for revenue, backlog and recurring revenue, and a solid performance in all of our financial metrics. Overall total bookings increased by 39% compared to last year's 2nd quarter, and we continued to improve services revenue and margins by leveraging our expanded infrastructure and delivering a significant number of go lives to our major account customer base. Our leadership in health systems was further reinforced; we won the business of a major health system, the fifth customer in as many quarters in this market. We are pleased with these achievements and with the opportunities moving forward."


First Half Financial Summary

  • Revenue for the first half, 2014 remained at $22.3M compared to the first half of last fiscal year.
  • Q1, 2013 included a major customer base contract which contributed significantly to the Company's 28% revenue growth compared to Q1, 2012 as well as making a noteworthy contribution to product revenue, profit from operations and net earnings.
  • Profit from operations for the first half, 2014 was $919K compared to $1,476K for the same period in last year.
  • EBITDA for the first half, 2014 was $1,760K compared to $2,246K for the first half of 2013.
  • Net profit for the first half of fiscal, 2014 was $688K or $0.06 per share compared to $1,247K or $0.11 per share for the same period of the prior fiscal year.

TECSYS’ Second Quarter 2014 Results Conference Call:

Date: November 26, 2013
Time: 4:30 pm EST
Phone number: 800-732-5617 or 416-620-9188

The call can be replayed by calling 800-558-5253 (access code: 21689032) or 416-626-4100 (access code: 21689032).

  View the Q2 FY2014 Financial Statements (PDF, 64K)


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 and transportation management, as well as complete financial management and analytics. 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.

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Forward Looking Statements

The statements in this web site 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, 2015. These documents have been filed with the Canadian securities commissions and are available on this Web site and on SEDAR .

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