Enghouse Releases Third Quarter Results
(firmenpresse) - MARKHAM, ONTARIO -- (Marketwire) -- 09/01/11 -- Enghouse Systems Limited (TSX: ESL) today announced its unaudited third quarter financial results for the period ended July 31, 2011.
Third quarter revenue was $31.8 million, compared to $26.0 million reported in the same period last year, an increase of approximately 22%. Net income for the third quarter was $4.6 million or $0.18 per share on a diluted basis compared to the prior year's third quarter net income of $3.2 million or $0.13 per share. The increase in revenue was the result of increased license and services revenue attributable to recent acquisitions, including CosmoCom Inc. ("Cosmocom") acquired on April 1, 2011. On a year to date basis, revenue was $90.7 million compared to $66.8 million, while net income was $10.9 million or $0.43 per diluted share compared to $6.8 million or $0.27 per diluted share in the prior fiscal year. As has become the norm, revenue and operating costs are impacted by the continued volatility of foreign exchange as outlined in the MD&A.
Operating expenses increased to $15.1 million from $12.5 million in the prior year's third quarter and include incremental operating costs related to acquisitions and the positive impact of foreign exchange on U.S. dollar denominated operating expenses converted to Canadian dollars in the quarter. Non-cash amortization charges were $2.7 million compared to $2.4 million in the prior year's third quarter and include amortization charges for acquired software and other intangibles from recently acquired operations which added $0.3 million to amortization expense in the quarter.
The Company generated cash flows from operating activities of $13.0 million in the third quarter compared to $9.1 million in the prior year's third quarter. On a year to date basis the Company has generated $32.8 million in cash flows from operating activities compared to $16.3 million in the prior year. Enghouse closed the quarter with $88.0 million in cash and short-term investments compared to $78.3 million at October 31, 2010, which is after the net CosmoCom acquisition costs of approximately $14.4 million. The Company continues to have no long-term debt.
The Board of Directors today authorized an eligible quarterly dividend of $0.05 per common share, payable on November 30, 2011 to shareholders of record at the close of business on November 16, 2011. The Company remains committed to its strategy of seeking further acquisitions to continue to diversify its revenue stream and expand its market presence.
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 .
Contacts:
Enghouse Systems Limited
Stephen Sadler
Chief Executive Officer
(905) 946-3200
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Datum: 01.09.2011 - 21:00 Uhr
Sprache: Deutsch
News-ID 61811
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MARKHAM, ONTARIO
Kategorie:
Software
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