NewSys Solutions three-month results
NewSys Solutions Inc NSS
Shares issued 11,405,666 Sep 7 close $0.78
Wed 8 Sept 99 News Release
Mr. Michel Simon reports
Revenue for the first quarter ended July 31, 1999, reached $4,745,095,
compared with $3,526,600 for the same period in the previous year. This
represents an annual revenue run rate of $19-million and an increase over
the same period the previous year of 35 per cent. Net earnings for the
period were $132,829, compared with $69,910 for the same period in the
previous year, an increase of 90 per cent. Earnings are starting to reflect
the benefits of the company's investment in its infrastructure during the
previous fiscal year.
FINANCIAL HIGHLIGHTS
Three months ended July 31
1999 1998
Revenues $4,745,095 $3,526,600
Net profit 132,829 69,910
Net profit
per share 1.2 cents .7 cent
The first quarter produced several successes for NewSys. Sales growth
continued at a rate in excess of industry averages and the commitment made
to corporate infrastructure last fiscal year resulted in an attractive
increase in profitability and an increase in gross margin.
Several corporate milestones were achieved during the quarter. The company,
for the third year in a row, was named one of Canada's 100 fastest growing
companies by Profit Magazine, in its Profit 100 ranking. NewSys also
launched its first software application tool, NewSys BI Reportal for Lotus
Notes. NewSys BI Reportal is a Lotus Notes application that organizes and
publishes business intelligence (BI) reports to the enterprise-computing
environment. A recent focus of the company has been to enter into
large-scale, longer term project business contracts and the company's first
$2-million contract was signed in the quarter.
NewSys would also like to invite members of the investment community to
participate in a conference call to review first quarter results and the
company's operations. The call will be held on Thursday, Sept. 9, at 11
a.m. ET. Interested parties should call either 416-695-5806 or
800-273-9672, and request the NewSys call. An instant replay of the call
will be available, one hour following the call, until Sept. 16. For the
instant replay please call either 416-695-5800 or 1-800-408-3053 and enter
passcode 320042. |
