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MONTREAL, QUEBEC -- (Marketwired) -- 07/08/15 -- TECSYS Inc. (TSX: TCS), an industry-leading supply chain management software company, today announced its results for the fourth quarter and 2015 fiscal year, ended April 30, 2015.

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

Fourth Quarter Highlights:

--  Revenue grew 27% to $15.8M in Q4 2015 compared to $12.5M in Q4 2014.
--  EBITDA was $955K for Q4 2015, compared to $1.258K recorded in Q4 2014.
--  Proprietary products revenue grew 41% to $3.9M on strong demand from the
    Company's Logi-D point-of-use products as well as increased healthcare
    license revenue.
--  Services revenue improved by 16% to $9.1M, while services profit margin
    grew to 38% from 35% in Q4 2014.
--  Profit from operations was $311K in Q4 2015, compared to $757K in Q4
    2014.
--  Profit from operations was reduced by $270K of one-time costs due to the
    elimination of redundant management positions as various operating units
    were integrated into a single operating unit. A large new customer
    signed on a SAAS revenue model basis, resulting in the deferral of
    approximately $550K of license fees, while on an accounting basis, the
    bulk of the expenses impacted the quarter.
--  Recurring revenue on an annualized basis grew to $21.3M, a 21%
    improvement compared to Q4 2014, representing 37% of fiscal 2015
    revenue.
--  Total contract bookings in the fourth quarter totaled $16.0M, compared
    to $9.0M in the prior year period, a 79% increase.
--  Backlog was $44.9M at the end of Q4 2015 compared to $29.2M at the end
    of Q4 2014, a 54% increase.
--  Cash and cash equivalents totaled $10.8M at the end of Q4 2015 compared
    to $8.8M at the end of Q4 2014.
--  Signed one Health System (IDN) in the United States with five hospitals
    and five specialty centers.
--  Go-lives at 23 customers' sites, most notably: two health systems, one
    third party logistics provider, two sites for a Fortune 300 imaging
    manufacturer and five new hospital sites with Logi-D products.

"Our fiscal 2015 results demonstrate the inherent growth potential of our innovative solutions as revenue rose substantially and order bookings doubled over the prior year." said Peter Brereton, President and CEO of TECSYS Inc. "New order bookings in the fourth quarter were up almost 80% from last year's fourth quarter and included a significant SAAS agreement. These record bookings impacted the quarter with significant travel and incentive expense while roughly 70% of the related revenues are future. We continued to invest for growth in areas such as marketing and R&D as well as the launch of an additional sales team, allowing one team to concentrate on Healthcare while the other concentrates on Complex Distribution. We begin 2016 in an excellent financial and competitive position and I look forward to updating you on our progress throughout the year."

Highlights of the 2015 Fiscal Year:

--  Revenue increased 23% in fiscal 2015 to $57.3M, compared to $46.6M last
    fiscal year.
--  EBITDA was $4.4M in fiscal 2015 compared to $4.1M last year.
--  Profit from operations was $1.9M compared to $2.3M in fiscal 2014.
    Before acquisition related expenses and amortization, profit from
    operations was $2.3M in both fiscal 2015 and 2014.
--  Net profit in fiscal 2015 was $1.5M, or $0.13 per share, compared to
    $1.8M, or $0.16 per share in fiscal year 2014. Before acquisition
    related expenses and amortization, net profit was $1.9M or $0.16 per
    share in fiscal 2015 compared to $1.8M or $0.16 per share in fiscal
    2014.
--  Total contract bookings in fiscal 2015 totaled $47.0M, which includes
    the addition of six new IDN's. This represents a 97% increase in
    contract bookings compared to $23.9M in fiscal 2014.

TECSYS also announced that the Company's Board of Directors approved an increase of the quarterly dividend from $0.0225 per share to $0.025 per share, an increase of 11%. To this effect, the Company declared a dividend of $0.025 per share, to be paid on August 6, 2015 to shareholders of record on July 22, 2015.

Fourth Quarter and Fiscal Year 2015 Results Conference Call

Date: July 8, 2015

Time: 4:30 pm EST

Phone number: 800-734-4208 or 416-620-9188

The call can be replayed by calling 800-558-5253 or 416-626-4100 (access code: 21771491).

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. 2015. All names, trademarks, products, and services mentioned are registered or unregistered trademarks of their respective owners.

TECSYS Inc.
Consolidated Statements of Financial Position
As at April 30, 2015 and April 30, 2014
(in thousands of Canadian dollars)

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                                                    April 30,      April 30,
                                                         2015           2014
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Assets

Current assets
  Cash and cash equivalents                     $      10,815  $       8,839
  Accounts receivable                                  12,570          9,076
  Work in progress                                        704            524
  Other accounts receivable                               434             66
  Tax credits                                           5,369          2,704
  Inventory                                             1,059            293
  Prepaid expenses                                      1,394          1,037
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Total current assets                                   32,345         22,539
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Non-current assets
  Restricted cash equivalents                               -             80
  Tax credits                                           1,538          1,350
  Property and equipment                                2,526          2,627
  Deferred development costs                            4,348          4,088
  Other intangible assets                               2,184            508
  Goodwill                                              3,596          2,239
  Deferred tax assets                                     840            714
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Total non-current assets                               15,032         11,606
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Total assets                                    $      47,377  $      34,145
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Liabilities

Current liabilities
  Accounts payable and accrued liabilities      $       8,817  $       5,426
  Current portion of long-term debt                     1,456          1,000
  Deferred revenue                                     10,098          8,326
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Total current liabilities                              20,371         14,752
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Non-current liabilities
  Long-term debt                                        3,333          2,500
  Other non-current liabilities                           311            299
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Total non-current liabilities                           3,644          2,799
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Total liabilities                                      24,015         17,551
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Equity

  Share capital                                         8,349          2,153
  Contributed surplus                                   9,577          9,577
  Retained earnings                                     5,341          4,864
  Accumulated other comprehensive income                   95              -
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Total equity attributable to the owners of the
 Company                                               23,362         16,594
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Total liabilities and equity                    $      47,377  $      34,145
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TECSYS Inc.
Consolidated Statements of Income and Comprehensive Income
Three month periods and years ended April 30, 2015 and 2014
(in thousands of Canadian dollars, except per share data)
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                                   Three         Three
                                  Months        Months       Year       Year
                                   Ended         Ended      Ended      Ended
                               April 30,     April 30,      April      April
                                    2015          2014        30,        30,
                             (unaudited)   (unaudited)       2015       2014
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Revenue:
  Proprietary products      $      3,884  $      2,749  $  12,525  $   8,081
  Third-party hardware and
   software products               2,273         1,506      8,576      6,833
  Services                         9,093         7,807     34,347     30,176
  Reimbursable expenses              516           389      1,836      1,468
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Total revenue                     15,766        12,451     57,284     46,558
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Cost of revenue:
  Products                         1,799         1,351      6,432      5,112
  Services                         5,652         5,112     21,443     19,685
  Reimbursable expenses              516           389      1,836      1,468
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Total cost of revenue              7,967         6,852     29,711     26,265
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Gross profit                       7,799         5,599     27,573     20,293

Operating expenses:
  Sales and marketing              3,951         2,406     12,727      8,755
  General and
   administration                  1,611         1,080      5,899      4,050
  Research and
   development, net of tax
   credits                         1,926         1,356      7,000      5,223
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Total operating expenses           7,488         4,842     25,626     18,028
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Profit from operations               311           757      1,947      2,265
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Net finance costs                     13            41        119        244

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Profit before income taxes           298           716      1,828      2,021
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Income taxes                           3            76        313        226

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Profit attributable to the
 owners of the Company      $        295  $        640  $   1,515  $   1,795
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Other comprehensive
 income:
  Effective portion of
   changes in fair value
   on designated revenue
   hedges                            742             -         95          -
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Comprehensive income
 attributable to the
 owners of the Company      $      1,037  $        640  $   1,610  $   1,795
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Basic and diluted earnings
 per common share           $       0.02  $       0.06  $    0.13  $    0.16
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TECSYS Inc.
Consolidated Statements of Cash Flows
Years ended April 30, 2015 and 2014
(in thousands of Canadian dollars)
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                                                        Year           Year
                                                       Ended          Ended
                                                   April 30,      April 30,
                                                        2015           2014
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Cash flows from (used in) operating
 activities:
Profit for the year                             $      1,515   $      1,795
Adjustments for:
  Depreciation of property and equipment                 743            728
  Depreciation of deferred development costs           1,291          1,045
  Depreciation of other intangible assets                434            170
  Net finance costs                                      119            244
  Unrealized foreign exchange losses, realized
   foreign exchange gains and other                       74            122
  Federal non-refundable research and
   development tax credits                              (500)          (300)
  Income taxes                                           184            199
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  Operating activities excluding changes in
   non-cash working capital items related to
   operations                                          3,860          4,003

  Accounts receivable                                 (2,374)        (1,117)
  Work in progress                                       (84)           767
  Other accounts receivable                             (190)            53
  Tax credits                                         (2,443)         1,945
  Inventory                                             (298)           252
  Prepaid expenses                                      (335)           116
  Accounts payable and accrued liabilities             2,023            516
  Deferred revenue                                     1,235          1,165
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  Changes in non-cash working capital items
   related to operations                              (2,466)         3,697
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Net cash from operating activities                     1,394          7,700
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Cash flows from (used in) financing
 activities:
  Repayment of bank loans                               (140)             -
  Repayment of loan to related party                       -            (70)
  Repayment of long-term debt                         (1,064)        (1,000)
  Long-term debt                                       2,050              -
  Issuance of common shares                            6,096            130
  Normal course issuer bid fees                            -            (11)
  Purchase of share options for cancellation             (31)           (20)
  Payment of dividends                                (1,038)          (861)
  Interest paid                                         (126)          (162)
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Net cash from (used) in financing activities           5,747         (1,994)
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Cash flows (used in) from investing
 activities:
  Restricted cash equivalents                             80             40
  Interest received                                       21             50
  Acquisitions of property and equipment                (435)          (427)
  Acquisitions of other intangible assets               (374)          (134)
  Deferred development costs                          (1,551)        (1,816)
  Receivables from TECSYS Latin America Inc.              43             72
  Business combination, net of cash and cash
   equivalents acquired                               (2,949)             -
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Net cash used in investing activities                 (5,165)        (2,215)
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Net increase in cash and cash equivalents
 during the year                                       1,976          3,491

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

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Cash and cash equivalents - end of year         $     10,815   $      8,839
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TECSYS Inc.
Consolidated Statements of Changes in Equity
Years ended April 30, 2015 and 2014
(in thousands of Canadian dollars, except number of shares)

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

  Profit for the year                     -               -              -
  Other comprehensive
   income for the year:
    Effective portion of
     changes in fair value
     on designated revenue
     hedges                               -               -              -
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Total comprehensive income
 for the year                             -               -              -
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  Common shares issued
   related to purchase of
   Logi D Holding Inc.               15,625             100              -
  Common shares issued
   under bought deal
   financing                        775,280           6,096              -
  Dividends to equity
   owners                                 -               -              -
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Total transactions with
 owners of the Company              790,905           6,196              -
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Balance, April 30, 2015          12,315,326  $        8,349  $       9,577
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Balance, April 30, 2013          11,449,421  $        1,748  $       9,588

  Profit and comprehensive
   income for the year                    -               -              -
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Total comprehensive income
 for the year                             -               -              -
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  Normal course issuer bid
   fees                                   -               -            (11)
  Share options exercised            75,000             130              -
  Fair value associated
   with options exercised                 -             275              -
  Dividends to equity
   owners                                 -               -              -
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Total transactions with
 owners of the Company               75,000             405            (11)
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Balance, April 30, 2014          11,524,421  $        2,153  $       9,577
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                                 Accumulated
                                       other
                               comprehensive       Retained
                                      income       earnings           Total
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Balance, April 30, 2014      $             -  $       4,864   $      16,594

  Profit for the year                      -          1,515           1,515
  Other comprehensive
   income for the year:
    Effective portion of
     changes in fair value
     on designated revenue
     hedges                               95              -              95
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Total comprehensive income
 for the year                             95          1,515           1,610
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  Common shares issued
   related to purchase of
   Logi D Holding Inc.                     -              -             100
  Common shares issued
   under bought deal
   financing                               -              -           6,096
  Dividends to equity
   owners                                  -         (1,038)         (1,038)
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Total transactions with
 owners of the Company                     -         (1,038)          5,158
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Balance, April 30, 2015      $            95  $       5,341   $      23,362
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Balance, April 30, 2013      $             -  $       3,930   $      15,266

  Profit and comprehensive
   income for the year                     -          1,795           1,795
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Total comprehensive income
 for the year                              -          1,795           1,795
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  Normal course issuer bid
   fees                                    -              -             (11)
  Share options exercised                  -              -             130
  Fair value associated
   with options exercised                  -              -             275
  Dividends to equity
   owners                                  -           (861)           (861)
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Total transactions with
 owners of the Company                     -           (861)           (467)
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Balance, April 30, 2014      $             -  $       4,864   $      16,594
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