Sylogist Announces Fiscal 2011 Results: Net Income Down, Cash Flow and Profit Margins Up.

/This press release is not for distribution to United States Newswire Services or for dissemination in the United States./

CALGARY, Jan. 16, 2012 /CNW/ - Sylogist Ltd. (TSXV:SYZ) ("Sylogist"), a leading provider of intellectual property solutions to public and private sector customers, announces its audited financial results for the fiscal year ended September 30, 2011.

In fiscal 2011:

  • Net income per fully diluted share was $0.09 compared to $0.17 in 2010.  Total net income after tax was $1.9 million compared to $3.1 in 2010.
  • EBITDA(1) was $3.8 million compared to $4.2 million in the previous year.
  • Cash Flow from Operations was up 16% to $4 million.
  • Gross profit margins improved to 72%, up from 63% in fiscal 2010.
  • Revenues increased by 4% year over year to $10.1 million.
  • Cash and short-term investments as at September 30, 2011 totalled $14.2 million or $0.71 per share.
  • Working capital (net of deferred revenue)(1) was $15.7 million or $0.78 per share.
  • Federal tax pools at the end of fiscal 2011 stood at $10 million.
  • Dividends payments doubled to $1.8 million compared to $0.9 million in the previous year.

"Fiscal 2011 saw increases in revenue, profit margins, cash flow from operations and dividend payments to shareholders.  Net income compared to fiscal 2010 results was lower due to non-cash expenses including stock compensation, future taxes, and investment tax credits.  We are pleased with the results." stated Jim Wilson, Chairman, President and CEO of Sylogist Ltd.

About Sylogist

Sylogist is a technology innovation and licensing company which, through strategic acquisitions, investments and operations management, provides intellectual property solutions to a wide range of public and private sector customers.

(1)EBITDA and Working Capital are non-GAAP financial measures.  EBITDA is calculated as earnings before stock based compensation, interest, income taxes, depreciation and amortization.  Working Capital is calculated as current assets less current liabilities adjusted for deferred revenue.

(2) Per share calculations are based on the weighted average number of shares outstanding at year end.

Full financial statements together with Management's Discussion and Analysis are available on SEDAR.

The Company's stock is traded on the TSX Venture Exchange under the symbol SYZ. Information about Sylogist can be found at

Forward-looking Statements

This news release contains forward-looking statements relating to the future operations of the Corporation and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expects" and similar expressions. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Such forward-looking statements are subject to important risks, uncertainties and assumptions. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Sylogist. As a result, we cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information.  Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release, and Sylogist does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by Canadian securities law.

- Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release -

SOURCE Sylogist Ltd.

For further information:

Jim Wilson, President and CEO
Sylogist Ltd.
(403) 266-4808

Profil de l'entreprise

Sylogist Ltd.

Renseignements sur cet organisme


Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .


Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.


Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.