Nexxlink (NTI.T) seems like a mini-CGI consulting in IT services. Only less than 6M shares out. Does anyone follow this Quebec company?...it has moved recently.
Nexxlink Technologies Posts Net Earnings of $1.6 million or $0.30 per Share for the First Nine Months of 2003
Wednesday June 4, 9:05 am ET
- Consulting and outsourcing revenues of $19.7 million: + 87% - EBITDA of $3.5 million versus $350,000 - Net earnings of $1.6 million versus a net loss of $(664,000)
MONTREAL, June 4 /CNW Telbec/ - Nexxlink Technologies Inc. (TSX: NTI - News), a provider of integrated computing services offering specialized IT network infrastructure and e-business solutions, announces that it achieved net earnings of $494,000 or $0.09 per share for the quarter closed April 30, 2003, bringing its net earnings to $1.6 million or $0.30 per share for the first nine months of the current fiscal year.
Third quarter and new contrats
For the third quarter ended April 30, 2003, the Company's business volume rose to $19.8 million, up from $15.8 million for the third quarter of the previous fiscal year. Consulting and outsourcing revenues jumped 42%, from $4.3 million to $6.0 million, while sales of infrastructure solutions grew by 19%, from $11.6 million to $13.8 million for the third quarter of the current fiscal year. Nexxlink posted net earnings of $494,000 or $0.09 per share, whereas it had sustained a net loss of $267,000 or $0.05 per share for the third quarter of the prior year.
"Our success comes from value-added services that optimize our customers' efficiency, such as our helpdesk services. In May 2003, we inaugurated our new technical helpdesk centre in downtown Montreal. We already have more than one hundred agents and have signed long-term contracts worth over $12 million," said Robert Courteau, President and Chief Executive Officer at Nexxlink.
Nine months
For the nine-month period ended April 30, 2003, Nexxlink achieved sales of $52.6 million, up 14% over the revenues of $46.3 million recorded for the same period of fiscal 2002. Consulting and outsourcing revenues jumped 87%, from $10.6 million for the first nine months of 2002 to $19.7 million for the current fiscal year. This strong growth distinctly improved the Company's profitability, as earnings before income taxes, interest, depreciation and amortization climbed to $3.5 million, up from $350,000 for the same period in 2002. Net earnings amounted to $1.6 million or $0.30 per share, as opposed to a net loss of $664,000 or $0.14 per share for the same period of the previous fiscal year.
Financial position
The Company's balance sheet continues to show a healthy financial position, with working capital of $6.4 million, no short and long-term bank indebtedness, and shareholders' equity of $14.3 million or $2.68 per share as at April 30, 2003.
Record Results
"Nexxlink has achieved an outstanding financial performance over the last four quarters (EBITDA of $5.3 million and net earnings of $0.46 per share) and fiscal 2003 will be an exceptional year. We shifted the Company's focus to the development of services a few years ago, and 2003 results attest clearly to the soundness of our strategy," concluded Mr. Karol Brassard, executive Chairman of the Board of Directors.
Involved in the computer industry since 1977, Nexxlink Technologies Inc. is a Full Service Provider that offers specialized IT solutions in network infrastructure and e-business solutions. The Company is a Canadian pioneer in the outsourced computing and hosting services sector. The simple and efficient solutions provided by Nexxlink allow companies to focus on their core competencies. Nexxlink truly offers hassle-free computing services. The Company has offices across the country and its shares are listed on the TSX under the ticker symbol NTI.
Forward-looking statements contained in this press release involve known and unknown risks, uncertainties or other factors that may cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Financial Highlights
(in thousands, except per-share amounts)
Quarters ended Nine-month periods
April 30, ended April 30,
2003 2002 2003 2002
---- ---- ---- ----
Sales $ 19,789 $ 15,824 $ 52,566 $ 46,266
Consulting and
outsourcing services $ 6,034 $ 4,260 $ 19,742 $ 10,560
Infrastructure
solutions $ 13,755 $ 11,564 $ 32,824 $ 35,706
EBITDA $ 1,093 $ 410 $ 3,468 $ 350
Net (loss) earnings $ 494 $ (267) $ 1,622 $ (664)
Earnings (loss)
per share $ 0.09 $ (0.05) $ 0.30 $ (0.14)
Weighted average number
of shares outstanding 5,356,410 5,298,802 5,356,410 4,877,315
As at April 30,
2003 2002
---- ----
Total assets $ 27,084 $ 24,184
Long-term liabilities --- ---
Shareholders' equity $ 14,353 $ 12,731
Book value per share $ 2.68 $ 2.40
For further information
Karol Brassard, Executive Chairman of the Board, Robert Courteau, President and CEO, 1-877-Nexxlink, (514) 828-4428, Web Site: www.Nexxlink.com
Renmark Financial Communications Inc., Barry Mire, bmire@renmarkfinancial.com, Pierre Dewolf, pdewolf@renmarkfinancial.com, Media relations : Dominic Sicotte, dsicotte@renmarkfinancial.com, (514) 939-3989, Web Site: www.renmarkfinancial.com
Source: Nexxlink Technologies Inc. (TSX:NTI - News) |
