Enghouse Posts Record Results
(firmenpresse) - MARKHAM, ONTARIO -- (Marketwire) -- 12/14/11 -- Enghouse Systems Limited (TSX: ESL) today announced its fourth quarter (unaudited) and year end financial results for the period ended October 31, 2011, posting record revenue and net income on the year.
Revenue topped the $100 million mark for the first time in the Company's history at $122.6 million for the fiscal year. This is compared to $94.2 million in the prior year, an increase of 30%, as the Company continues to successfully implement its growth strategy. Net income for the fiscal year was $16.8 million or $0.66 per diluted share compared to $10.2 million or $0.40 per diluted share in the prior year, an increase of approximately 65%, representing a record year for the Company. Operating expenses increased to $57.0 million for the year compared to $45.6 million in the prior year as a result of incremental costs related to acquired operations. As has become the norm, revenue and operating costs were also impacted by the continued volatility of foreign exchange as outlined in the Company's Management's Discussion and Analysis as filed on SEDAR.
For the fourth quarter, revenue was $31.8 million, compared to $27.4 million reported in the same period last year. Net income for the fourth quarter was $5.9 million or $0.23 per diluted share compared to $3.4 million or $0.13 per diluted share in the fourth quarter of last year.
The Company recorded non-cash amortization charges of $2.7 million in the quarter compared to $2.5 million in the prior year's fourth quarter. For the fiscal year, the Company reported amortization charges of $10.3 million compared to $8.5 million in the prior fiscal year.
The Company generated cash flows from operating activities of $8.3 million in the quarter, compared to $2.4 million in the prior year's fourth quarter, an increase of 249%, and $41.1 million in the fiscal year compared to $18.6 million in the prior fiscal year, an increase of 120%. Enghouse closed the year with $99.6 million in cash and short-term investments after having spent $16.8 million in the fiscal year on acquisitions and $4.5 million on dividends.
Enghouse 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 February 29, 2012 to shareholders of record at the close of business on February 15, 2012. 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: 14.12.2011 - 22:10 Uhr
Sprache: Deutsch
News-ID 97228
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MARKHAM, ONTARIO
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Software
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