Seguridad Mania.com - España y América Latina

MONTREAL, QUEBEC -- (Marketwired) -- 09/05/13 -- TECSYS Inc. (TSX: TCS), an industry-leading supply chain management software company, announced today its results for the first quarter of fiscal year 2014, ended July 31st, 2013. All dollar amounts are expressed in Canadian currency and are prepared in accordance with the International Financial Reporting Standards (IFRS) and are unaudited.

Overall highlights for the First Quarter:

- Services revenue increased by 6% compared to last year, providing improved returns on the investments made in services infrastructure; as a percentage of revenue services margin improved to 33% in Q1, 2014.

- Signed forty-three new contracts with new and existing clients. Major highlights of the quarter include winning the business of one of the largest banks in the U.S., and a leading operator of home and office beverage delivery in the U.S.

- Announced a major new and unique product targeting, the highest expense and highest revenue generating hospital entity, the Operating Room.

- Partnered with the Warehousing Education Research Council to include their industry metrics in TECSYS' business intelligence solutions, bringing significant additional meaning to the extensive library of analytics built-in to the TECSYS platform.

- Deployed its supply chain execution solutions at thirteen customers in Canada and the United States. The most notable ones include the go-lives of a Fortune 100 healthcare services company, and a multi-divisional consumer products company that supplies product to all channels of Canadian retail.

Financial Highlights for the First Quarter:

-- Revenue was $10.6M in Q1 of fiscal 2014 compared to $11.5M in Q1 of fiscal 2013. Q1, 2013 included a major contract which contributed significantly to its 28% revenue growth compared to Q1, 2012. (note: last year's major contract impacts Profit from Operations, EBITDA, and Net Profit comparisons as well)

-- Profit from operations was $171K in Q1, 2014 compared to $1,048K in Q1, 2013.

-- EBITDA for Q1, 2014 was $579K compared to $1,633K for Q1 of last fiscal year.

-- Net profit for Q1, 2014 was $83K or $0.01 per share, compared to $1,125K or $0.10 per share for the first quarter of last fiscal year.

-- Annualized recurring revenue was $15.5M at the end of Q1, 2014, compared to $15.6M at the end of Q1, 2013. Recurring revenue for Q1, 2014 represented 36% of revenue for the last twelve months.

-- Backlog at the end of Q1, 2014, was $26.3M compared to $26.2M at the end of Q1, 2013.

-- Cash generated from operating activities amounted to $2.3M in Q1, 2014 compared to $903K in Q1,2103

-- Cash and cash equivalents amounted to $6.8M at the end of Q1, 2014 compared to $5.3M at the end of Q4, 2013.

TECSYS also announced today that the Company's Board of Directors has declared a semi-annual dividend of $0.035/share, to be paid on October 4, 2013 to shareholders of record on September 20, 2013.

Peter Brereton, President and CEO of TECSYS Inc., commented on the results: "Five new accounts and a significant improvement in services margins were the key elements of Q1. After several quarters of heavy investment in services infrastructure, we saw services revenue begin to respond, up 6% in the quarter compared to Q1 of last year with margin increasing from 28% to 33%. On the license front, Q1 was a more typical first quarter for us as opposed to last year's unusual Q1 making comparisons difficult. We are excited about the new cutting-edge supply chain product we have announced for the Hospital Operating Room. This product is now released and the level of interest from the market looks promising. The combination of our strong backlog, larger services team and a sales pipeline that looks solid put us in a good position moving forward. We continue to provide good returns to shareholders with another $0.035/share dividend approved by our Board of Directors.

TECSYS' First Quarter 2014 Results Conference Call:

Date: September 5, 2013

Time: 4:30 pm

Phone number: 800-745-9476 or 416-981-9020

The call can be replayed by calling 800-558-5253 (access code: 21672007) or 416-626-4100 (access code: 21672007).

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, 2013. 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. 2013. 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, 2013 and April 30, 2013
(in thousands of Canadian dollars)

============================================================================
                                                      July 31,     April 30,
                                                          2013          2013
----------------------------------------------------------------------------

Assets

Current assets
  Cash and cash equivalents                        $     6,784   $     5,348
  Accounts receivable                                    7,539         7,959
  Work in progress                                       1,029         1,291
  Other accounts receivable                                253           132
  Tax credits                                            3,470         4,675
  Inventory                                                467           545
  Prepaid expenses                                       1,221         1,153
----------------------------------------------------------------------------
Total current assets                                    20,763        21,103
----------------------------------------------------------------------------

Non-current assets
  Restricted cash equivalents and other
   investments                                              80           120
  Non-current receivables                                   27            39
  Tax credits                                            1,294         1,219
  Property and equipment                                 2,778         2,928
  Deferred development costs                             3,602         3,317
  Other intangible assets                                  605           544
  Goodwill                                               2,239         2,239
  Deferred tax assets                                      712           710
----------------------------------------------------------------------------
Total non-current assets                                11,337        11,116
----------------------------------------------------------------------------

----------------------------------------------------------------------------
Total assets                                       $    32,100   $    32,219
============================================================================

Liabilities

Current liabilities
  Accounts payable and accrued liabilities         $     4,663   $     4,997
  Loans payable                                             65            70
  Term loan                                              1,000         1,000
  Deferred revenue                                       7,414         7,161
----------------------------------------------------------------------------
Total current liabilities                               13,142        13,228
----------------------------------------------------------------------------

Non-current liabilities
  Term loan                                              3,250         3,500
  Other non-current liabilities                            255           225
----------------------------------------------------------------------------
Total non-current liabilities                            3,505         3,725
----------------------------------------------------------------------------
Total liabilities                                       16,647        16,953
----------------------------------------------------------------------------

Equity

  Share capital                                          1,852         1,748
  Contributed surplus                                    9,588         9,588
  Retained earnings                                      4,013         3,930
----------------------------------------------------------------------------
Total equity attributable to the owners of the
 Company                                                15,453        15,266
----------------------------------------------------------------------------

----------------------------------------------------------------------------
Total liabilities and equity                       $    32,100   $    32,219
============================================================================


TECSYS Inc.
Condensed Interim Consolidated Statements of Comprehensive Income
(Unaudited)

Three-month periods ended July 31, 2013 and 2012
(in thousands of Canadian dollars, except per share data)

============================================================================
                                                   July 31,        July 31,
                                                       2013            2012
============================================================================

Revenue:
  Software products                            $      1,466    $      3,283
  Third-party hardware and software products          1,754           1,204
  Services                                            7,103           6,680
  Reimbursable expenses                                 279             343
----------------------------------------------------------------------------
Total revenue                                        10,602          11,510
----------------------------------------------------------------------------

Cost of revenue:
  Products                                            1,259             928
  Services                                            4,751           4,819
  Reimbursable expenses                                 279             343
----------------------------------------------------------------------------
Total cost of revenue                                 6,289           6,090
----------------------------------------------------------------------------

Gross profit                                          4,313           5,420

Operating expenses:
  Sales and marketing                                 1,943           1,918
  General and administration                            998           1,114
  Research and development, net of tax credits        1,201           1,340
----------------------------------------------------------------------------
Total operating expenses                              4,142           4,372
----------------------------------------------------------------------------

----------------------------------------------------------------------------
Profit from operations                                  171           1,048
----------------------------------------------------------------------------

Finance income                                           16              92
Finance costs                                          (104)             (3)
----------------------------------------------------------------------------
Net finance (costs) income                              (88)             89

----------------------------------------------------------------------------
Profit before income taxes                               83           1,137
----------------------------------------------------------------------------

Income taxes                                              -              12

----------------------------------------------------------------------------
Profit attributable to the owners of the
 Company and comprehensive income for the
 period                                        $         83    $      1,125
============================================================================

Basic and diluted earnings per common share    $       0.01    $       0.10
============================================================================


TECSYS Inc.
Condensed Interim Consolidated Statements of Cash Flows
(Unaudited)

Three-month periods ended July 31, 2013 and 2012
(in thousands of Canadian dollars)

============================================================================
                                                       July 31,    July 31,
                                                           2013        2012
============================================================================

Cash flows from operating activities:
Profit for the period                                 $      83   $   1,125
Adjustments for:
  Depreciation of property and equipment                    183         248
  Depreciation of deferred development costs                238         215
  Depreciation of other intangible assets                    48          37
  Net finance costs (income)                                 88         (89)
  Realized foreign exchange (losses) gains and other        (18)         49
  Federal non-refundable research and development
   tax credits                                              (75)        (75)
  Income taxes                                                -         (38)
----------------------------------------------------------------------------
  Operating activities excluding changes in non-cash
   working capital items related to operations              547       1,472

  Accounts receivable                                       420       1,097
  Work in progress                                          262        (422)
  Other accounts receivable                                (123)       (130)
  Tax credits                                             1,205        (559)
  Inventory                                                  78           5
  Prepaid expenses                                          (68)        (44)
  Accounts payable and accrued liabilities                 (283)       (819)
  Deferred revenue                                          253         303
----------------------------------------------------------------------------
  Changes in non-cash working capital items related
   to operations                                          1,744        (569)
----------------------------------------------------------------------------

----------------------------------------------------------------------------
Net cash from operating activities                        2,291         903
----------------------------------------------------------------------------

Cash flows used in financing activities:
  Repayment of loans                                         (5)         (3)
  Term loan                                                   -           -
  Repayment of term loan                                   (250)          -
  Issuance of common shares                                  40          31
  Purchase of common shares for cancellation                  -        (231)
  Purchase of share options for cancellation                 (2)          -
  Payment of dividends                                        -           -
  Interest paid                                             (43)         (3)
----------------------------------------------------------------------------
Net cash used in financing activities                      (260)       (206)
----------------------------------------------------------------------------

Cash flows used in investing activities:
  Restricted cash equivalents and other investments          40          40
  Interest received                                          16           7
  Acquisitions of property and equipment                    (33)       (378)
  Acquisitions of other intangible assets                  (109)        (89)
  Deferred development costs                               (523)       (404)
  Current and non-current receivables from TECSYS
   Latin America Inc.                                        14          14
----------------------------------------------------------------------------
Net cash used in investing activities                      (595)       (810)
----------------------------------------------------------------------------

Net increase (decrease) in cash and cash equivalents
 during the period                                        1,436        (113)

Cash and cash equivalents - beginning of period           5,348       5,217

----------------------------------------------------------------------------
Cash and cash equivalents - end of period             $   6,784   $   5,104
============================================================================



TECSYS Inc.
Condensed Interim Consolidated Statements of Changes in Equity
(Unaudited)

Three-month periods ended July 31, 2013 and 2012
(in thousands of Canadian dollars, except number of shares)

============================================================================

                                              Contri-
                            Share capital       buted     Retained    Total
                       Number      Amount     surplus     earnings

----------------------------------------------------------------------------
Balance, April
 30, 2013          11,449,421  $    1,748  $    9,588  $     3,930 $ 15,266

  Profit and
   comprehensive
   income for
   the period               -           -           -           83       83
----------------------------------------------------------------------------
Total
 comprehensive
 income for the
 period                     -           -           -           83       83
----------------------------------------------------------------------------

  Share options
   exercised           25,000          40           -            -       40
  Fair value
   associated
   with options
   exercised                -          64           -            -       64
----------------------------------------------------------------------------
Total
 transactions
 with owners of
 the Company           25,000         104           -            -      104
----------------------------------------------------------------------------

----------------------------------------------------------------------------
Balance, July
 31, 2013          11,474,421  $    1,852  $    9,588  $     4,013 $ 15,453
============================================================================


Balance, April
 30, 2012          11,603,271  $    1,688  $   10,023  $     3,845 $ 15,556

  Profit and
   comprehensive
   income for
   the period               -           -           -        1,125    1,125
----------------------------------------------------------------------------
Total
 comprehensive
 income for the
 period                     -           -           -        1,125    1,125
----------------------------------------------------------------------------

  Repurchase of
   common shares      (91,800)        (13)       (218)           -     (231)
  Share options
   exercised           16,350          31           -            -       31
  Fair value
   associated
   with options
   exercised                -           7           -            -        7
----------------------------------------------------------------------------
Total
 transactions
 with owners of
 the Company          (75,450)         25        (218)           -     (193)
----------------------------------------------------------------------------

----------------------------------------------------------------------------
Balance, July
 31, 2012          11,527,821  $    1,713  $    9,805  $     4,970 $ 16,488
============================================================================