Sylogist Announces Third Quarter Results for Fiscal 2007



    /THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE
    SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

    CALGARY, Aug. 28 /CNW/ - Sylogist Ltd. ("SYZ" - TSX Venture Exchange) a
provider of enterprise information management and collaboration solutions to
local government, education (K-12) and large enterprises announces its
unaudited financial results for the third quarter ending June 30, 2007.

    
    Highlights:

    -   For the nine month period, revenues were $6.4 million compared to
        $6.6 million a year earlier;

    -   Third quarter revenue at $1.7 million compared to revenues of
        $3.1 million a year earlier, mainly attributed to the cancellation of
        the AMSC Munishare contract, which accounted for $1.5 million in
        revenues in the same quarter a year earlier. Revenues, net of AMSC
        projects, increased 3.6% year over year;

    -   A net loss for the quarter of $240 thousand compared to a profit of
        $900 thousand a year earlier;

    -   Gross margins in the third quarter were 49% compared to gross margins
        of 50% from a year earlier;

    -   Cash and cash equivalents increased to $6.4 million from $1.1 million
        a year earlier. All cash and cash equivalents are deposited in
        liquid, secure Banker's acceptances.

    -   Launch of its web-based Bellamy public sector applications software
        designed to provide improved workflow, desktop integration and web
        services capability;
    

    "I am very pleased with our progress in our new product direction which
is focused on selling and developing our own proprietary software" said Werner
Biegler, President and CEO. "The launch of our web-enabled municipal software
suite in May was a direct result of the company's strategy to strengthen its
market position and our customers' commitments to upgrading to this new
software have exceeded our expectations" added Mr. Biegler.

    About Sylogist
    --------------
    Sylogist provides enterprise information management and collaboration
solutions to local government, education and private sector customers.
Solutions are deployed through client, web-based and mobile systems. Sylogist
Local Government Solutions provide an integrated suite of business
applications to municipalities that serve their needs for revenue, finance and
operations management capabilities. Sylogist Education Solutions provides
financial, student information and collaborative web-site management systems
for the K-12 market. Our industry leading collaboration web solutions enhance
teacher, parent and student on-line collaboration driving improved student
achievement.
    The Company's stock is traded on the TSX Venture Exchange under the
symbol SYZ. Information about Sylogist can be found at
http://www.sylogist.com.

    Forward-looking statements: This press release contains statements about
expected or anticipated future events and financial results that are
forward-looking in nature and, as a result, are subject to certain risks and
uncertainties, such as general economic, market and business conditions, the
regulatory process and actions, technical issues, new legislation, competitive
and general economic factors and conditions, the uncertainties resulting from
potential delays or changes in plans, the occurrence of unexpected events, and
Sylogist's capability to execute and implement its future plans. Actual
results may differ materially from those projected by management.
    Although Sylogist believes that the expectations reflected in these
forward-looking statements are reasonable, undue reliance should not be placed
on them because Sylogist can give no assurance that they will prove to be
correct. Since forward-looking statements address future events and
conditions, by their very nature they involve inherent risks and
uncertainties. The forward-looking statements contained in this press release
are made as of the date hereof and Sylogist undertakes no obligation to update
publicly or revise any forward-looking statements or information, whether as a
result of new information, future events or otherwise, unless so required by
applicable securities laws.

    - The TSX-Venture Exchange does not accept responsibility for the
    adequacy or accuracy of this release -





For further information:

For further information: Sylogist Ltd., Werner Biegler, President and
CEO, (780) 489-5756


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890