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MONTREAL, QUEBEC -- (Marketwired) -- 09/11/14 -- TECSYS Inc. (TSX: TCS), an industry-leading supply chain management software company, today announced its results for the first quarter of fiscal year 2015, ended July 31, 2014.

All dollar amounts are expressed in Canadian currency and are prepared in accordance with the International Financial Reporting Standards (IFRS) and are unaudited.

First Quarter Highlights:

--  Revenue grew 23% to $13.0M in Q1 2015 compared to $10.6M in Q1 2014.
--  EBITDA increased by 73% to $1.0M in Q1 2015, compared to $579 K in Q1
    2014. EBITDA in Q1 2015 includes a one-time acquisition expense of $134K
    related to Logi-D.
--  Profit from operations increased to $474K in Q1 2015, compared to $171K
    in Q1 2014. Before acquisition related expenses and amortizations,
    profit from operations increased to $650K compared to $171K in Q1, 2014.
--  Net profit increased to $343K or $0.03 per share compared to $83K or
    $0.01 per share in Q1 2014. Before acquisition related expenses and
    amortizations, net profit increased to $519K or $0.04 compared to $83K
    in Q1, 2014.
--  Services revenue improved by 23% to $8.7M while services profit margin
    expanded to 41% from 33% in Q1 2014.
--  Recurring revenue on an annualized basis grew to $18.6M, a 20% jump
    compared to the end of Q1 2014, representing 38% of the last twelve
    months trailing revenue.
--  Total contract bookings in the quarter totaled $9.7M, including $4.7M in
    total contract value from six new accounts, including three new hospital
    networks.
--  Go-lives at 17 customers' sites, most notably: one hospital network, one
    service parts provider and five new hospitals with Logi-D products.
--  Backlog was $33.6M at the end of Q1 2015 compared to $26.3M at the end
    of Q1 2014.
--  Cash and cash equivalents totaled $5.3M at the end of Q1 2015 compared
    to $8.8M at the end of Q4 2014.
--  On May 31, 2014, the Company acquired 100% of the issued and outstanding
    shares of Logi-D Holding Inc, a leading provider of point-of-use
    technology for supply chain automation servicing hospitals and
    healthcare organizations.

TECSYS also announced that the Company's Board of Directors has declared a quarterly dividend of $0.0225 per share, to be paid on October 10, 2014 to shareholders of record at the close of business on September 26, 2014.

"This quarter we further extended our leadership in the hospital market, signing three notable new health systems and highlighting the industry's growing demand for our products," said Peter Brereton, President and CEO of TECSYS Inc. "Along with the momentum we have established in the hospital sector, we also booked an additional $4.0M of business in the broader supply chain market. Our services team continues to execute with increased efficiency, reflecting the improvements we made to their organization and capacity over the last two years. With the acquisition of Logi-D completed, we are now working on integrating their products and capitalizing on the new opportunities available to us to accelerate our growth."

First Quarter 2015 Results Conference Call

Date: September 11th, 2014

Time: 4:30 pm EST

Phone number: 800-728-2056 or 416-981-9030

The call can be replayed by calling 800-558-5253 (access code: 21733033) or 416-626-4100 (access code: 21733033).

About TECSYS

TECSYS is a leading supply chain management software provider that delivers powerful enterprise distribution, warehouse and transportation logistics software solutions. The company's customers include over 600 mid-size and Fortune 1000 corporations in healthcare, heavy equipment, 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, 2014. 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. 2014. All names, trademarks, products, and services mentioned are registered or unregistered trademarks of their respective owners.

TECSYS Inc.
Condensed Interim Consolidated Statements of Financial Position
(Unaudited)
As at July 31, 2014 and April 30, 2014
(in thousands of Canadian dollars)

----------------------------------------------------------------------------
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                                                     July 31,      April 30,
                                                         2014           2014
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Assets

Current assets
  Cash and cash equivalents                         $   5,317      $   8,839
  Accounts receivable                                  10,214          9,076
  Work in progress                                        307            524
  Other accounts receivable                               339             46
  Tax credits                                           3,473          2,704
  Inventory                                               708            293
  Prepaid expenses                                      1,289          1,037
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Total current assets                                   21,647         22,519
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Non-current assets
  Restricted cash equivalents                              40             80
  Tax credits                                           1,425          1,350
  Property and equipment                                2,684          2,627
  Deferred development costs                            4,189          4,088
  Other intangible assets                               2,186            508
  Goodwill                                              3,594          2,239
  Deferred tax assets                                     639            714
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Total non-current assets                               14,757         11,606
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Total assets                                        $  36,404      $  34,125
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Liabilities

Current liabilities
  Accounts payable and accrued liabilities          $   6,209      $   5,406
  Current portion of long-term debt                     1,090          1,000
  Deferred revenue                                      9,588          8,326
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Total current liabilities                              16,887         14,732
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Non-current liabilities
  Long-term debt                                        2,451          2,500
  Other non-current liabilities                           357            299
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Total non-current liabilities                           2,808          2,799
----------------------------------------------------------------------------
Total liabilities                                      19,695         17,531
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Equity

  Share capital                                         2,253          2,153
  Contributed surplus                                   9,577          9,577
  Retained earnings                                     4,947          4,864
  Accumulated other comprehensive loss                    (68)             -
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Total equity attributable to the owners of the
 Company                                               16,709         16,594
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Total liabilities and equity                        $  36,404      $  34,125
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TECSYS Inc.
Condensed Interim Consolidated Statements of Income and Comprehensive Income
(Unaudited)
Three-month periods ended July 31, 2014 and 2013
(in thousands of Canadian dollars, except per share data)

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                                                 Three Months   Three Months
                                                        Ended          Ended
                                                     July 31,       July 31,
                                                         2014           2013
----------------------------------------------------------------------------

Revenue:
  Proprietary products                              $   2,079      $   1,466
  Third-party hardware and software products            1,778          1,754
  Services                                              8,743          7,103
  Reimbursable expenses                                   412            279
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Total revenue                                          13,012         10,602
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Cost of revenue:
  Products                                              1,329          1,259
  Services                                              5,185          4,751
  Reimbursable expenses                                   412            279
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Total cost of revenue                                   6,926          6,289
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Gross profit                                            6,086          4,313

Operating expenses:
  Sales and marketing                                   2,611          1,943
  General and administration                            1,427            998
  Research and development, net of tax credits          1,574          1,201
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Total operating expenses                                5,612          4,142
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Profit from operations                                    474            171
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Net finance costs                                          56             88

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Profit before income taxes                                418             83
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Income taxes                                               75              -

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Profit attributable to the owners of the Company    $     343      $      83
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Other comprehensive loss:
  Effective portion of changes in fair value on
   designated revenue hedges                              (68)             -
----------------------------------------------------------------------------

Comprehensive income attributable to the owners
 of the Company                                     $     275      $      83
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Basic and diluted earnings per common share         $    0.03      $    0.01
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TECSYS Inc.
Condensed Interim Consolidated Statements of Cash Flows
(Unaudited)
Three-month periods ended July 31, 2014 and 2013
(in thousands of Canadian dollars)

----------------------------------------------------------------------------
                                                 Three Months  Three Months
                                                        Ended         Ended
                                                     July 31,      July 31,
                                                         2014          2013
----------------------------------------------------------------------------

Cash flows from (used in) operating activities:
Profit for the period                               $     343      $     83
Adjustments for:
  Depreciation of property and equipment                  183           183
  Depreciation of deferred development costs              292           238
  Depreciation of other intangible assets                  82            48
  Net finance costs                                        56            88
  Realized foreign exchange losses, unrealized
   foreign exchange gains, and other                     (108)          (18)
  Federal non-refundable research and
   development tax credits                                (75)          (75)
  Income taxes                                             75             -
----------------------------------------------------------------------------
  Operating activities excluding changes in non-
   cash working capital items related to
   operations                                             848           547

  Accounts receivable                                    (326)          420
  Work in progress                                        621           262
  Other accounts receivable                              (269)         (123)
  Tax credits                                            (559)        1,205
  Inventory                                                53            78
  Prepaid expenses                                       (230)          (68)
  Accounts payable and accrued liabilities               (577)         (283)
  Deferred revenue                                        725           253
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  Changes in non-cash working capital items
   related to operations                                 (562)        1,744
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Net cash from operating activities                        286         2,291
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Cash flows (used in) from financing activities:
  Repayment of bank loans                                (140)            -
  Repayment of loan to related party                        -            (5)
  Repayment of long-term debt                            (262)         (250)
  Issuance of common shares                                 -            40
  Purchase of share options for cancellation               (7)           (2)
  Interest paid                                           (37)          (43)
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Net cash used in financing activities                    (446)         (260)
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Cash flows (used in) from investing activities:
  Restricted cash equivalents                              40            40
  Interest received                                         9            16
  Acquisitions of property and equipment                  (46)          (33)
  Acquisitions of other intangible assets                 (24)         (109)
  Deferred development costs                             (393)         (523)
  Current and non-current receivables from
   TECSYS Latin America Inc.                                1            14
  Business combination, net of cash and cash
   equivalents acquired                                (2,949)            -
----------------------------------------------------------------------------
Net cash used in investing activities                  (3,362)         (595)
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Net (decrease) increase in cash and cash
 equivalents during the period                         (3,522)        1,436

Cash and cash equivalents - beginning of period         8,839         5,348

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Cash and cash equivalents - end of period           $   5,317      $  6,784
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TECSYS Inc.
Condensed Interim Consolidated Statements of Changes in Equity
(Unaudited)
Three-month periods ended July 31, 2014 and 2013
(in thousands of Canadian dollars, except number of shares)

--------------------------------------------------------------------------
                                                 Share capital

                                                               Contributed
                                              Number    Amount     surplus
--------------------------------------------------------------------------
Balance, April 30, 2014                   11,524,421    $2,153      $9,577

  Profit for the period                            -         -           -
  Other comprehensive loss for the
   period:
    Effective portion of changes in
     fair value on designated revenue
     hedges                                        -         -           -
--------------------------------------------------------------------------
Total comprehensive income for the
 period                                            -         -           -
--------------------------------------------------------------------------

  Common shares issued related to
   purchase of Logi D Holding Inc.            15,625       100           -
  Dividends to equity owners                       -         -           -
--------------------------------------------------------------------------
Total transactions with owners of the
 Company                                      15,625       100           -
--------------------------------------------------------------------------

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Balance, July 31, 2014                    11,540,046    $2,253      $9,577
--------------------------------------------------------------------------


Balance, April 30, 2013                   11,449,421    $1,748      $9,588

  Profit and comprehensive income for
   the period                                      -         -           -
--------------------------------------------------------------------------
Total comprehensive income for the
 period                                            -         -           -
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  Share options exercised                     25,000        40           -
  Fair value associated with options
   exercised                                       -        64           -
--------------------------------------------------------------------------
Total transactions with owners of the
 Company                                      25,000       104           -
--------------------------------------------------------------------------

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Balance, July 31, 2013                    11,474,421    $1,852      $9,588
--------------------------------------------------------------------------




TECSYS Inc.
Condensed Interim Consolidated Statements of Changes in Equity
(Unaudited)
Three-month periods ended July 31, 2014 and 2013
(in thousands of Canadian dollars, except number of shares)

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                                          Accumulated
                                                other
                                        comprehensive    Retained
                                                 loss    earnings      Total
----------------------------------------------------------------------------
Balance, April 30, 2014                            $-      $4,864    $16,594

  Profit for the period                             -         343        343
  Other comprehensive loss for the
   period:
    Effective portion of changes in
     fair value on designated revenue
     hedges                                      (68)           -       (68)
----------------------------------------------------------------------------
Total comprehensive income for the
 period                                          (68)         343        275
----------------------------------------------------------------------------

  Common shares issued related to
   purchase of Logi D Holding Inc.                  -           -        100
  Dividends to equity owners                        -       (260)      (260)
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Total transactions with owners of the
 Company                                            -       (260)      (160)
----------------------------------------------------------------------------

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Balance, July 31, 2014                          $(68)      $4,947    $16,709
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Balance, April 30, 2013                            $-      $3,930    $15,266

  Profit and comprehensive income for
   the period                                       -          83         83
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Total comprehensive income for the
 period                                             -          83         83
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  Share options exercised                           -           -         40
  Fair value associated with options
   exercised                                        -           -         64
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Total transactions with owners of the
 Company                                            -           -        104
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Balance, July 31, 2013                             $-      $4,013    $15,453
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