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MARKHAM, ONTARIO -- (Marketwire) -- 06/06/12 -- Enghouse Systems Limited (TSX: ESL) today announced its unaudited second quarter financial results for the period ended April 30, 2012.

The Company posted solid second quarter results despite ongoing turbulence in global markets. Second quarter revenue was $31.5 million, compared to $30.3 million in the second quarter last year. Results from operating activities for the quarter were $7.6 million compared to $4.9 million in the prior year's second quarter, an increase of 53%. Net income for the second quarter increased by 100% to $4.2 million or $0.16 per share on a diluted basis compared to the prior year's second quarter net income of $2.1 million or $0.08 per share. The increase in revenue continues to reflect incremental revenue contributions from acquisitions. Revenue also reflects hosted and maintenance services contributions of $16.0 million in the quarter, an increase of 16% over last year, largely as a result of incremental hosted revenue contributions from recently acquired CustomCall Data Systems Inc. Hosted and maintenance revenue now accounts for over 50% of the Company's total revenue. On a year to date basis, revenue was $62.0 million up from $58.9 million, while net income increased from $5.1 million to $8.2 million or $0.32 per diluted share.

Operating expenses decreased to $15.7 million from $15.8 million in the prior year's second quarter, which included restructuring expenses related to the CosmoCom acquisition on April 1, 2011. The current quarter's operating expenses include incremental operating costs related to the acquisition of CustomCall on March 1, 2012 and a full quarter of CosmoCom's operating costs. Non-cash amortization charges were $2.4 million and reflect amortization of acquired software and customer relationships from acquisitions.

The Company closed the quarter with over $100 million in cash, cash equivalents and short-term investments, which is after the payment of approximately $6.6 million related to the acquisition of CustomCall and its office facility. Enghouse continues to have no long-term debt and did not repurchase any shares in the quarter.

The Board of Directors also announced today an eligible quarterly dividend of $0.065 per common share, payable on August 31, 2012 to shareholders of record at the close of business on August 17, 2012.

On June 1, 2012, Enghouse acquired Zeacom Group Ltd., a leading provider of multi-channel contact center communications solutions for a cash purchase price of approximately U.S. $30.6 million. Headquartered in Auckland, New Zealand, with offices in Australia, the UK and the US, Zeacom's leading edge contact center software and business process automation solutions have been installed in over 3,500 customer sites worldwide. The acquisition of Zeacom expands Enghouse's global market reach and product suite. The Company continues to seek further acquisitions to continue to grow its market share globally.

About Enghouse

Enghouse Systems Limited is a leading global provider of enterprise software solutions serving a variety of distinct vertical markets. Its strategy is to build a larger and more diverse software company through strategic acquisitions and managed growth. Enghouse shares are listed on the Toronto Stock Exchange under the symbol "ESL". Further information about Enghouse may be obtained from the Company's web site at www.enghouse.com.

Non-IFRS Measures

The Company uses non-IFRS measures to assess its operating performance. Securities regulations require that companies caution readers that earnings and other measures adjusted to a basis other than IFRS do not have standardized meanings and are unlikely to be comparable to similar measures used by other companies. Accordingly, they should not be considered in isolation. The Company uses results from operating activities as a measure of operating performance. Therefore, results from operating activities may not be comparable to similar measures presented by other issuers. Results from operating activities are calculated as net income before amortization of acquired software and customer relationships, finance income, finance expenses, other income, and the provision for income taxes. Management uses results from operating activities to evaluate operating performance as it excludes amortization of software and intangibles which is an accounting allocation of the cost of software and intangible assets arising on acquisition, and does not represent the allocation of the cost of an asset that must be replaced as is the case with depreciation of property and equipment.

Enghouse Systems Limited
Consolidated Interim Statements of Financial Position
(in thousands of Canadian dollars)
(Unaudited)

                                          April 30,  October 31, November 1,
                                               2012         2011        2010

                 Assets
Current assets:
  Cash and cash equivalents             $    56,387  $    65,624 $    46,640
  Short-term investments                     44,016       33,967      31,627
  Accounts receivable, net                   28,438       23,006      24,500
  Income tax receivable                           -            -         591
  Prepaid expenses and other assets           3,964        3,479       3,360
                                       -------------------------------------
                                            132,805      126,076     106,718
Non-current assets:
Property, plant and equipment                 2,773        1,543       1,588
Acquired software and customer
 relationships                               28,710       29,709      34,330
Goodwill                                     47,213       43,734      35,137
Deferred income taxes                        11,460       11,138       3,478
                                       -------------------------------------

Total assets                            $   222,961  $   212,200 $   181,251
                                       -------------------------------------
                                       -------------------------------------

              Liabilities
Current liabilities:
  Trade payables                        $    18,542  $    22,686 $    18,808
  Income taxes payable                        3,397        2,878           -
  Dividends payable                           1,664        1,267       1,007
  Accrued provisions                          1,921        2,442       1,307
  Deferred revenue                           36,360       28,933      26,040
                                       -------------------------------------
                                             61,884       58,206      47,162
Non-current liabilities:
Deferred income tax liabilities              12,741       10,743      12,571
Long-term income taxes payable                  220          420         522
Deferred revenue                              1,241        1,404         790
                                       -------------------------------------
Total liabilities                            76,086       70,773      61,045
                                       -------------------------------------
          Shareholders' Equity

Share capital                                54,532       52,134      50,705
Contributed surplus                           2,734        2,970       2,653
Retained earnings                            90,589       85,288      66,546
Accumulated other comprehensive (loss)
 gain                                          (980)       1,035         302
                                       -------------------------------------
Total equity                                146,875      141,427     120,206
                                       -------------------------------------
Total liabilities and equity            $   222,961  $   212,200 $   181,251
                                       -------------------------------------
                                       -------------------------------------


Enghouse Systems Limited
Consolidated Interim Statements of Operations and Comprehensive Income
 (loss)
(in thousands of Canadian dollars, except per share amounts)
(Unaudited)

                                 Three months ended        Six months ended
                                           April 30                April 30
                                   2012        2011        2012        2011

Revenue
  Software licenses          $   10,630  $   11,752  $   21,148  $   22,463
  Hosted and maintenance
   services                      16,040      13,862      32,019      27,154
  Professional services           4,406       3,569       8,146       7,413
  Hardware                          380       1,151         676       1,873
                            ------------------------------------------------
                                 31,456      30,334      61,989      58,903
                            ------------------------------------------------
Direct costs
  Software licenses                 866       1,973       1,775       3,530
  Services                        7,086       6,765      13,982      13,080
  Hardware                          278         852         484       1,412
                            ------------------------------------------------
                                  8,230       9,590      16,241      18,022
                            ------------------------------------------------

Revenue, net of direct costs     23,226      20,744      45,748      40,881

Operating expenses
  Selling, general and
   administrative                 9,976      11,658      19,837      21,062
  Research and development        5,401       3,873      10,204       7,739
  Depreciation of property,
   plant and equipment              287         281         565         556
                            ------------------------------------------------
                                 15,664      15,812      30,606      29,357
                            ------------------------------------------------

Results from operating
 activities                       7,562       4,932      15,142      11,524

Amortization of acquired
 software and customer
 relationships                   (2,383)     (2,494)     (4,821)     (4,934)
Finance income                      261         126         504         264
Finance expenses                    (70)        (45)       (111)        (98)
Other income                        157          76         155          71
                            ------------------------------------------------

Income before income taxes        5,527       2,595      10,869       6,827

Provision for income taxes        1,347         504       2,629       1,684
                            ------------------------------------------------

Net income for the period    $    4,180  $    2,091  $    8,240  $    5,143
                            ------------------------------------------------
                            ------------------------------------------------

Foreign currency translation
 differences from foreign
 operations                        (709)     (2,504)     (1,291)     (3,154)
Transfer to net income of
 realized gains on available
 for sale investments, net
 of tax of ($24); six months
 - ($24)                           (132)        (89)       (132)        (91)
Unrealized gain (loss) on
 available for sale
 investments, net of tax of
 $3; six months - ($112)             14         461        (600)        481
Unrealized foreign currency
 translation (loss) gain on
 available for sale
 investments, net of tax of
 $nil; six months - $1                -         (52)          8         (73)
                            ------------------------------------------------

Other comprehensive loss           (827)     (2,184)     (2,015)     (2,837)
                            ------------------------------------------------

Comprehensive income (loss)  $    3,353  $      (93) $    6,225  $    2,306
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Earnings per share
Basic                        $     0.16  $     0.08  $     0.32  $     0.20
Diluted                      $     0.16  $     0.08  $     0.32  $     0.20
----------------------------------------------------------------------------


Enghouse Systems Limited
Consolidated Interim Statements of Changes in Equity
(in thousands of Canadian dollars)
(Unaudited)




                                      Share                     Contributed
                                    Capital   Share capital         surplus
                                    -number               $               $

Balance - November 1, 2011       25,337,262          52,134           2,970

Net income                                -               -               -
Other Comprehensive Income
 (net of tax):
Cumulative Translation
 Adjustment                               -               -               -
Transfer to net income of
 realized gains on
 available-for-sale
 investments, net of tax                  -               -               -
Unrealized gain (loss) on
 available-for-sale
 investments, net of tax                  -               -               -
Unrealized foreign currency
 translation gain (loss) on
 available-for-sale
 investments, net of tax                  -               -               -
                            ------------------------------------------------
Comprehensive income (loss)
 for the period                           -               -               -
                            ------------------------------------------------
                            ------------------------------------------------
Employee share options:
 Value of services
  recognized                              -               -             286
 Proceeds on issuing shares         268,300           2,398            (522)
Purchase and cancellation of
 commons shares
Dividends                                 -               -               -
                            ------------------------------------------------
Balance - April 30, 2012         25,605,562          54,532           2,734
                            ------------------------------------------------
                            ------------------------------------------------


Balance - November 1, 2010       25,171,662          50,705           2,653

Net income                                -               -               -
Other Comprehensive Income
 (net of tax):
Cumulative Translation
 Adjustment                               -               -               -
Transfer to net income of
 realized gains on
 available-for-sale
 investments, net of tax                  -               -               -
Unrealized gain (loss) on
 available-for-sale
 investments, net of tax                  -               -               -
Unrealized foreign currency
 translation gain (loss) on
 available-for-sale
 investments, net of tax                  -               -               -
                            ------------------------------------------------
Comprehensive income (loss)
 for the period                           -               -               -
                            ------------------------------------------------
                            ------------------------------------------------
Employee share options:
 Value of services
  recognized                              -               -             325
 Proceeds on issuing shares          28,000             140               -
Purchase and cancellation of
 commons shares                      (4,800)            (10)              -
Dividends                                 -               -               -
                            ------------------------------------------------
Balance - April 30, 2011         25,194,862          50,835           2,978
                            ------------------------------------------------
                            ------------------------------------------------



                                Accumulated
                                      other
                              comprehensive        Retained
                                     income        earnings           Total
                                          $               $               $

Balance - November 1, 2011            1,035          85,288         141,427

Net income                                -           8,240           8,240
Other Comprehensive Income
 (net of tax):
Cumulative Translation
 Adjustment                          (1,291)              -          (1,291)
Transfer to net income of
 realized gains on
 available-for-sale
 investments, net of tax               (132)              -            (132)
Unrealized gain (loss) on
 available-for-sale
 investments, net of tax               (600)              -            (600)
Unrealized foreign currency
 translation gain (loss) on
 available-for-sale
 investments, net of tax                  8               -               8
                            ------------------------------------------------
Comprehensive income (loss)
 for the period                      (2,015)          8,240           6,225
                            ------------------------------------------------
                            ------------------------------------------------
Employee share options:
 Value of services
  recognized                              -               -             286
 Proceeds on issuing shares               -               -           1,876
Purchase and cancellation of
 commons shares                           -               -               -
Dividends                                 -          (2,939)         (2,939)
                            ------------------------------------------------
Balance - April 30, 2012               (980)         90,589         146,875
                            ------------------------------------------------
                            ------------------------------------------------


Balance - November 1, 2010              302          66,546         120,206

Net income                                -           5,143           5,143
Other Comprehensive Income
 (net of tax):
Cumulative Translation
 Adjustment                          (3,154)              -          (3,154)
Transfer to net income of
 realized gains on
 available-for-sale
 investments, net of tax                (91)              -             (91)
Unrealized gain (loss) on
 available-for-sale
 investments, net of tax                481               -             481
Unrealized foreign currency
 translation gain (loss) on
 available-for-sale
 investments, net of tax                (73)              -             (73)
                            ------------------------------------------------
Comprehensive income (loss)
 for the period                      (2,837)          5,143           2,306
                            ------------------------------------------------
                            ------------------------------------------------
Employee share options:
 Value of services
  recognized                              -               -             325
 Proceeds on issuing shares               -               -             140
Purchase and cancellation of
 commons shares                           -             (33)            (43)
Dividends                                 -          (2,267)         (2,267)
                            ------------------------------------------------
Balance - April 30, 2011             (2,535)         69,389         120,667
                            ------------------------------------------------
                            ------------------------------------------------

Enghouse Systems Limited
Consolidated Interim Statements of Cash Flows
(in thousands of Canadian dollars)
(Unaudited)

                                 Three months ended        Six months ended
                                           April 30                April 30
                                   2012        2011        2012        2011
Cash flows from operating
 activities
Net income                   $    4,180  $    2,091  $    8,240  $    5,143

Adjustments for:
  Depreciation of property,
   plant and equipment              287         281         565         556
  Amortization of acquired
   software and customer
   relationships                  2,383       2,494       4,821       4,934
  Stock-based compensation
   expense                          120         154         286         325
  Deferred income tax
   expense                           93         (47)        296        (172)
  Finance expenses and other
   income                           (87)        (31)        (44)         27
  Income tax paid                (1,295)       (617)     (1,828)       (943)
                            ------------------------------------------------
                                  5,681       4,325      12,336       9,870

  Changes in non-cash
   operating working capital      1,740       5,797      (2,133)      9,924
----------------------------------------------------------------------------
Net cash flows from
 operating activities             7,421      10,122      10,203      19,794

Cash flows from investing
 activities
Purchase of property, plant
 and equipment, net              (1,178)       (264)     (1,669)       (440)
Finance income                     (261)       (126)       (504)       (264)
Acquisitions, net of cash
 acquired                        (5,802)    (14,198)     (5,802)    (15,768)
Net (purchase) proceeds from
 sale of short-term
 investments                     (9,583)     (1,791)    (10,559)     10,652
----------------------------------------------------------------------------
Net cash flows from
 investing activities           (16,824)    (16,379)    (18,534)     (5,820)

Cash flows from financing
 activities
Issuance of share capital           749         140       1,876         140
Payment of cash dividend         (1,275)     (1,007)     (2,542)     (2,014)
Purchase and cancellation of
 common shares                        -         (43)          -         (43)
----------------------------------------------------------------------------
Net cash flows used in
 financing activities              (526)       (910)       (666)     (1,917)

Effect of currency
 translation adjustments on
 cash and cash equivalents         (655)     (2,574)       (240)     (3,311)
----------------------------------------------------------------------------

Net increase in cash and
 cash equivalents during the
 period                         (10,584)     (9,741)     (9,237)      7,866
Cash and cash equivalents-
 beginning of period             66,971      64,247      65,624      46,640

Cash and cash equivalents -
 end of period               $   56,387  $   54,506  $   56,387  $   54,506
----------------------------------------------------------------------------
----------------------------------------------------------------------------


Enghouse Systems Limited
Selected Segment Reporting Information
(in thousands of Canadian dollars)
(Unaudited)

                               For the three months      For the six months
                                     ended April 30          ended April 30
                            ----------------------- ------------------------
                                   2012        2011        2012        2011
                            ------------------------------------------------

Revenue:
  Asset Management Group     $    3,723  $    3,520  $    6,794  $    6,589
  Interactive Management
   Group                         27,733      26,814      55,195      52,314
                            ------------------------------------------------
Total                        $   31,456  $   30,334  $   61,989  $   58,903
                            ------------------------------------------------
                            ------------------------------------------------


Segment Profit (EBIT):
  Asset Management Group     $      193  $      420  $      902  $    1,002
  Interactive Management
   Group                          5,768       2,753      11,047       7,215
  Corporate expenses               (782)       (735)     (1,628)     (1,627)
  Finance income                    261         126         504         264
  Finance expenses                  (70)        (45)       (111)        (98)
  Other income (expense)            157          76         155          71
                            ------------------------------------------------
                            ------------------------------------------------
Total                        $    5,527  $    2,595  $   10,869  $    6,827
                            ------------------------------------------------
                            ------------------------------------------------