Enghouse Releases Second Quarter Results
(firmenpresse) - 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 .
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.
Contacts:
Enghouse Systems Limited
Kevin Derbyshire
Chief Corporate Officer
(905) 946-3238
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Datum: 06.06.2012 - 21:00 Uhr
Sprache: Deutsch
News-ID 154022
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MARKHAM, ONTARIO
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