Seguridad Mania.com - España y América Latina
Portal sobre tecnologías para la seguridad física
- Destacamos »
- software Anti Blanqueo
Enghouse Releases Third Quarter Results
Actualizado el 6 de septiembre, 2012 - 23.00hs.
MARKHAM, ONTARIO -- (Marketwire) -- 09/06/12 -- Enghouse Systems Limited (TSX: ESL) today announced its unaudited third quarter financial results for the period ended July 31, 2012.
Third quarter revenue was $35.4 million, compared to $31.8 million in the corresponding quarter last year. Results from operating activities for the quarter were $8.3 million compared to $8.5 million in the prior year's third quarter. Net income for the third quarter was $4.3 million or $0.16 per diluted share compared to the prior year's third quarter net income of $4.6 million or $0.18 per diluted share. Adjusted EBITDA for the quarter was $9.2 million or $0.35 per diluted share compared to $8.8 million or $0.34 per diluted share last year. On a year to date basis Adjusted EBITDA was $24.9 million or $0.96 per diluted share compared to $22.6 million or $0.89 per diluted share last year.
The increase in revenue continues to reflect incremental revenue contributions from acquisitions, including recently acquired Zeacom Group Limited ("Zeacom"), which closed on June 1, 2012. Revenue also reflects improved hosted and maintenance services contributions of $19.4 million in the quarter, an increase of 28% over last year, largely as a result of incremental hosted revenue contributions from recently acquired CustomCall Data Systems Inc. ("CustomCall"). Hosted and maintenance revenue accounted for 55% of the Company's total revenue in the quarter. On a year to date basis, revenue was $97.4 million up from $90.7 million, while net income increased to $12.5 million or $0.48 per diluted share from $9.7 million or $0.38 per diluted share in the prior year.
Operating expenses increased to $17.5 million from $15.4 million in the prior year's third quarter and include operating and acquisition related restructuring charges of $0.5 million related to recently acquired Zeacom and a full quarter's operating costs related to CustomCall. Research and development costs increased to $5.3 million from $3.7 million in the prior year's third quarter as the Company increased its software investment. Non-cash amortization charges were $2.9 million compared to $2.7 million last year and include amortization of acquired software and customer relationships from acquisitions.
The Company closed the quarter with $79.7 million in cash, cash equivalents and short-term investments, which is after the payment of approximately $26.7 million related to the acquisitions. 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 November 30, 2012 to shareholders of record at the close of business on November 16, 2012.
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 and Adjusted EBITDA as a measure of operating performance. Therefore, results from operating activities and Adjusted EBITDA 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. Results from Adjusted EBITDA are calculated as net income before depreciation of property, plant and equipment, amortization of acquired software and customer relationships, finance income, finance expenses, other income, the provision of income tax and special charges for acquisition related restructuring and transaction costs. Management uses results from operating activities and Adjusted EBITDA to evaluate operating performance as they exclude amortization of software and intangibles (which is an accounting allocation of the cost of software and intangible assets arising on acquisition), any impact of finance and tax related activities, asset depreciation, other income and restructuring costs primarily related to acquisitions.
The table below reconciles Adjusted EBITDA to net income:
Three Months ended Nine Months ended
July 31, July 31, July 31, July 31,
2012 2011 2012 2011
Total Revenue $ 35,427 $ 31,820 $ 97,416 $ 90,723
Net income for the period 4,288 4,577 12,528 9,720
Provision for income taxes 1,244 1,625 3,873 3,309
Depreciation of property,
plant and equipment 377 261 942 817
Amortization of acquired
software and customer
relationships 2,949 2,670 7,770 7,604
Finance income (194) (150) (698) (414)
Finance expenses 72 54 183 152
Other income (13) (256) (168) (327)
Special charges 491 - 491 1,775
----------------------------------------------
Adjusted EBITDA $ 9,214 $ 8,781 $ 24,921 $ 22,636
Adjusted EBITDA margin 26% 27% 26% 25%
Adjusted EBITDA per diluted
share $ 0.35 $ 0.34 $ 0.96 $ 0.89
Enghouse Systems Limited
Consolidated Interim Statements of Financial Position
(in thousands of Canadian dollars)
(Unaudited)
July 31, October November
2012 31, 1,
2011 2010
Assets
Current assets:
Cash and cash equivalents $ 39,863 $ 65,624 $ 46,640
Short-term investments 39,837 33,967 31,627
Accounts receivable, net 31,573 23,006 24,500
Income tax receivable - - 591
Prepaid expenses and other assets 4,111 3,479 3,360
--------------------------------
115,384 126,076 106,718
Non-current assets:
Property, plant and equipment 3,562 1,543 1,588
Acquired software and customer 45,654 29,709 34,330
relationships
Goodwill 62,933 43,734 35,137
Deferred income taxes 11,041 11,138 3,478
--------------------------------
Total assets $ 238,574 $ 212,200 $ 181,251
--------------------------------
--------------------------------
Liabilities
Current liabilities:
Trade payables $ 25,478 $ 22,686 $ 18,808
Income taxes payable 3,330 2,878 -
Dividends payable 1,669 1,267 1,007
Accrued provisions 1,887 2,442 1,307
Deferred revenue 40,977 28,933 26,040
--------------------------------
73,341 58,206 47,162
Non-current liabilities:
Deferred income tax liabilities 14,476 10,743 12,571
Long-term income taxes payable 56 420 522
Deferred revenue 1,214 1,404 790
--------------------------------
Total liabilities 89,087 70,773 61,045
--------------------------------
Shareholders' Equity
Share capital 55,085 52,134 50,705
Contributed surplus 2,838 2,970 2,653
Retained earnings 93,208 85,288 66,546
Accumulated other comprehensive (loss) gain (1,644) 1,035 302
--------------------------------
Total equity 149,487 141,427 120,206
--------------------------------
Total liabilities and equity $ 238,574 $ 212,200 $ 181,251
--------------------------------
--------------------------------
Enghouse Systems Limited
Consolidated Interim Statements of Operations and Comprehensive Income
(in thousands of Canadian dollars, except per share amounts)
(Unaudited)
Three months ended Nine months ended
July 31 July 31
2012 2011 2012 2011
Revenue
Software licenses $ 10,853 $ 11,842 $ 32,001 $ 34,305
Hosted and maintenance
services 19,475 15,190 51,494 42,344
Professional services 4,727 4,272 12,873 11,685
Hardware 372 516 1,048 2,389
----------------------------------------------
35,427 31,820 97,416 90,723
----------------------------------------------
Direct costs
Software licenses 808 909 2,583 4,439
Services 8,567 6,684 22,549 19,764
Hardware 242 317 726 1,729
----------------------------------------------
9,617 7,910 25,858 25,932
----------------------------------------------
Revenue, net of direct costs 25,810 23,910 71,558 64,791
Operating expenses
Selling, general and
administrative 11,255 11,403 31,092 30,690
Research and development 5,341 3,726 15,545 11,465
Depreciation of property,
plant and equipment 377 261 942 817
Special charges 491 - 491 1,775
----------------------------------------------
17,464 15,390 48,070 44,747
----------------------------------------------
Results from operating
activities 8,346 8,520 23,488 20,044
Amortization of acquired
software and customer
relationships (2,949) (2,670) (7,770) (7,604)
Finance income 194 150 698 414
Finance expenses (72) (54) (183) (152)
Other income 13 256 168 327
----------------------------------------------
Income before income taxes 5,532 6,202 16,401 13,029
Provision for income taxes 1,244 1,625 3,873 3,309
----------------------------------------------
Net income for the period $ 4,288 $ 4,577 $ 12,528 $ 9,720
----------------------------------------------
----------------------------------------------
Foreign currency translation
differences from foreign
operations (373) (409) (1,664) (3,563)
Transfer to net income of
realized gains on available
for sale investments, net of
tax of ($nil); nine months -
($24) - (51) (132) (142)
Unrealized (loss) gain on
available for sale
investments, net of tax of
($54); nine months - ($166) (291) 254 (891) 735
Unrealized foreign currency
translation gain (loss) on
available for sale
investments, net of tax of
$nil; nine months - $1 - 4 8 (69)
----------------------------------------------
Other comprehensive loss (664) (202) (2,679) (3,039)
----------------------------------------------
Comprehensive income $ 3,624 $ 4,375 $ 9,849 $ 6,681
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Earnings per share
Basic $ 0.17 $ 0.18 $ 0.49 $ 0.39
Diluted $ 0.16 $ 0.18 $ 0.48 $ 0.38
----------------------------------------------------------------------------
Enghouse Systems Limited
Consolidated Interim Statements of Changes in Equity
(in thousands of Canadian dollars)
(Unaudited)
Share Share Contributed
Capital 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 - - 502
Proceeds on issuing shares 332,300 2,951 (634)
Purchase and cancellation of common
shares
Dividends - - -
----------------------------------------
Balance - July 31, 2012 25,669,562 55,085 2,838
----------------------------------------
----------------------------------------
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 - - 493
Proceeds on issuing shares 75,400 565 (101)
Purchase and cancellation of common
shares (4,800) (10) -
Dividends - - -
----------------------------------------
Balance - July 31, 2011 25,242,262 51,260 3,045
----------------------------------------
----------------------------------------
Enghouse Systems Limited
Consolidated Interim Statements of Changes in Equity
(in thousands of Canadian dollars)
(Unaudited)
Accumulated
other
comprehensive Retained
income earnings Total
$ $ $
Balance - November 1, 2011 1,035 85,288 141,427
Net income - 12,528 12,528
Other Comprehensive Income (net of
tax):
Cumulative Translation Adjustment (1,664) - (1,664)
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 (891) - (891)
Unrealized foreign currency
translation gain (loss) on
available-for-sale investments, net
of tax 8 - 8
------------------------------------
Comprehensive income (loss) for the
period (2,679) 12,528 9,849
------------------------------------
------------------------------------
Employee share options:
Value of services recognized - - 502
Proceeds on issuing shares - - 2,317
Purchase and cancellation of common
shares - - -
Dividends - (4,608) (4,608)
------------------------------------
Balance - July 31, 2012 (1,644) 93,208 149,487
------------------------------------
------------------------------------
Balance - November 1, 2010 302 66,546 120,206
Net income - 9,720 9,720
Other Comprehensive Income (net of
tax):
Cumulative Translation Adjustment (3,563) - (3,563)
Transfer to net income of realized
gains on available-for-sale
investments, net of tax (142) - (142)
Unrealized gain (loss) on available-
for-sale investments, net of tax 735 - 735
Unrealized foreign currency
translation gain (loss) on
available-for-sale investments, net
of tax (69) - (69)
------------------------------------
Comprehensive income (loss) for the
period (3,039) 9,720 6,681
------------------------------------
------------------------------------
Employee share options:
Value of services recognized - - 493
Proceeds on issuing shares - - 464
Purchase and cancellation of common
shares - (33) (43)
Dividends - (3,529) (3,529)
------------------------------------
Balance - July 31, 2011 (2,737) 72,704 124,272
------------------------------------
------------------------------------
Enghouse Systems Limited
Consolidated Interim Statements of Cash Flows
(in thousands of Canadian dollars)
(Unaudited)
Three months ended Nine months ended
July 31 July 31
2012 2011 2012 2011
Cash flows from operating
activities
Net income $ 4,288 $ 4,577 $ 12,528 $ 9,720
Adjustments for:
Depreciation of property,
plant and equipment 377 261 942 817
Amortization of acquired
software and customer
relationships 2,949 2,670 7,770 7,604
Stock-based compensation
expense 216 168 502 493
Deferred income tax expense (1,128) 62 (832) (110)
Finance expenses and other
income 59 (202) 15 (175)
Income tax paid (1,360) (150) (3,188) (1,093)
----------------------------------------------
5,401 7,386 17,737 17,256
Changes in non-cash operating
working capital 3,362 5,813 1,229 15,737
----------------------------------------------------------------------------
Net cash flows from operating
activities 8,763 13,199 18,966 32,993
Cash flows from investing
activities
Purchase of property, plant
and equipment, net (224) (190) (1,893) (630)
Finance income (194) (150) (698) (414)
Acquisitions, net of cash
acquired (26,651) (32,453) (16,648)
Net proceeds (purchase) from
sale of short-term
investments 2,565 (14,363) (7,994) (3,711)
----------------------------------------------------------------------------
Net cash flows used in
investing activities (24,504) (14,703) (43,038) (21,403)
Cash flows from financing
activities
Issuance of share capital 441 324 2,317 464
Payment of cash dividend (1,664) (1,260) (4,206) (3,274)
Purchase and cancellation of
common shares - - - (43)
----------------------------------------------------------------------------
Net cash flows used in
financing activities (1,223) (936) (1,889) (2,853)
Effect of currency translation
adjustments on cash and cash
equivalents 440 206 200 (3,105)
----------------------------------------------------------------------------
Net (decrease) increase in
cash and cash equivalents
during the period (16,524) (2,234) (25,761) 5,632
Cash and cash equivalents-
beginning of period 56,387 54,506 65,624 46,640
Cash and cash equivalents -
end of period $ 39,863 $ 52,272 $ 39,863 $ 52,272
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Enghouse Systems Limited
Selected Segment Reporting Information
(in thousands of Canadian dollars)
(Unaudited)
For the three months For the nine months
ended July 31 ended July 31
----------------------------------------------
2012 2011 2012 2011
----------------------------------------------
Revenue:
Asset Management Group $ 4,725 $ 3,178 $ 11,519 $ 9,767
Interactive Management Group 30,702 28,642 85,897 80,956
----------------------------------------------
Total $ 35,427 $ 31,820 $ 97,416 $ 90,723
----------------------------------------------
----------------------------------------------
Segment Profit (EBIT):
Asset Management Group $ 1,016 $ 934 $ 1,918 $ 1,936
Interactive Management Group 5,383 5,685 16,430 12,900
Corporate expenses (1,002) (769) (2,630) (2,396)
Finance income 194 150 698 414
Finance expenses (72) (54) (183) (152)
Other income 13 256 168 327
----------------------------------------------
----------------------------------------------
Total $ 5,532 $ 6,202 $ 16,401 $ 13,029
----------------------------------------------
----------------------------------------------
Contacts:
Enghouse Systems Limited
Kevin Derbyshire
Chief Corporate Officer
(905) 946-3238
investor@enghouse.com
www.enghouse.com
Publicidad
Suscríbete a la newsletter »
Completa con tu email tanto para suscribirte a nuestra newsletter, como para agregar o quitar otras suscripciones.
Lo más leído »
![IBM Security Trusteer: Suite para protección avanzada contra el fraude. Introducción y demo. [Video]](https://www.seguridadmania.com/img/articles/71525/Captura.PNG)
![Ciberseguridad en Comunicaciones y Skype para empresas con Voiping [Video-entrevista de 40 mnts.]](https://www.seguridadmania.com/img/articles/71425/Volping.PNG)
![Ciberseguridad en la gran empresa según el CIO de Vocento [Webinar de 6o min]](https://www.seguridadmania.com/img/articles/71622/vocento.png)
Publicidad
-
![La Ciberseguridad en Robots industriales según Trend Micro [Videos+Informe 48 págs]](https://www.seguridadmania.com/img/articles/71596/dentro.PNG)
Industria y Fabricación Teoría Informes
La Ciberseguridad en Robots industriales según Trend Micro [Videos+Informe 48 págs]
Publicamos interesante Informe de más de 48 págs y varios videos demostrativos sobre los posibles ataques a los robots de montaje de las fábricas. ... Leer más ►
Publicado el 22-Jun-2017 • 10.48hs
-
Energía / Utilities Teoría Informes
Ciberataques a redes eléctricas. Informe de dragos.com
Publicado el 20-Jun-2017 • 20.22hs
-
Energía / Utilities Teoría Libros
Libro: Protecting Industrial Control Systems from Electronic Threats
Dirigido tanto a los principiantes, como a los expertos en seguridad informática y sistemas de control industrial (ICS), este libro ayudará a los lectores a comprender mejor la protección de normas de control interno de las amenazas electrónicas. ... Leer más ►
Publicado el 3-Ene-2012 • 20.16hs
-
Otros Teoría Libros
ebook: Data Mining for Intelligence, Fraud & Criminal Detection: Advanced Analytics & Information Sharing Technologies
Publicado el 25-Set-2009 • 01.26hs
-
Industria y Fabricación Teoría Libros
Pellerin-Minor, fabricante de lavadoras para ropa reconocido mundialmente, implanta las soluciones de MATE - Intelligent Video en su planta de Louisiana
Publicado el 17-Dic-2008 • 08.32hs
Más Secciones »
-
Biometría Ver más »
-
Firma electrónica avanzada y reconocimiento mediante voz con biometricvox.com
Publicado el 11-Oct-2016 • 12.48hs
-
Cinco razones para implementar la identificación biométrica
Publicado el 15-Mar-2016 • 11.59hs
-
-
Control de Accesos Ver más »
-
Introducción para IT a la Gestión de Identidades [Webinar de 1 hora]
Publicado el 2-Feb-2017 • 11.38hs
-
Infinias explica sus soluciones integradas de Video Análisis y Control de Accesos. Webinar de 1 hora.
Publicado el 20-Jun-2014 • 17.17hs
-
-
Sistemas de Alarmas Ver más »
-
ADT explica sus soluciones antihurto para Retail y otras propuestas en control de accesos y videovigilancia
Publicado el 31-May-2011 • 05.13hs
-
Visonic presenta su sistema de alarmas Amber especial para el cuidado de personas de la tercera edad
Publicado el 25-Set-2008 • 17.54hs
-
-
VideoVigilancia Ver más »
-
Scati instala más de 200 cámaras minidomo IP y sistema de grabación en Resort de Cancún
Publicado el 1-Set-2016 • 16.11hs
-
Tendencias 2016 en Videovigilancia y Videointeligencia. Por Axis.
Publicado el 31-Ago-2016 • 18.53hs
-
-
Seguridad Física Ver más »
-
Informe sobre el pishing 2017. Por Wombat.
Publicado el 19-Ene-2017 • 15.47hs
-
Hotel de lujo en el corazón de Manhattan implanta cámaras Scati Eye
Publicado el 4-Jul-2016 • 18.51hs
-
