From the Wires
Sylogist Announces Fiscal 2012 Results: Net Income Increases
By: PR Newswire
Jan. 17, 2013 05:43 PM
/THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./
CALGARY, Jan. 17, 2013 /CNW/ - Sylogist Ltd. (TSXV:SYZ), a provider of technology based IP solutions, including enterprise information management systems for municipal, utilities, education and private sector customers, announces its audited financial results for the fiscal year ended September 30, 2012.
In fiscal 2012:
"Fiscal 2012 saw continued progress on building a solid, sustainable financial foundation. Net income per share rose over 2011, with continued strong cash flow from operations. The balance sheet remains pristine with substantial working capital and no debt. In late fiscal 2012, Sylogist repurchased 5% of its outstanding common shares providing an accretive platform for 2013 results. With the recent acquisition of fuel system management assets and expected strong and growing cash flow, we foresee a successful fiscal 2013." stated Jim Wilson, Chairman, President and CEO.
Sylogist is a technology innovation company which, through strategic acquisitions, investments and operations management, provides intellectual property solutions to a wide range of public and private sector customers. The Company's stock is traded on the TSX Venture Exchange under the symbol "SYZ".
(1)EBITDA and Cash Flow from Operations are a non-GAAP financial
measure: earnings before stock based compensation, interest, income
taxes, depreciation and amortization.
Full financial statements together with Management's Discussion and Analysis are available on SEDAR.
- Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release-
SOURCE Sylogist Ltd.
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