LGS Group Reports Record Year
NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: LGS GROUP INC.
ME SYMBOL: LGS.A
JUNE 16, 1998
LGS Group Reports Record Year - (Part 1 of 2 - Financial
Tables to Follow)
MONTREAL, QUEBEC--LGS Group Inc., an international consulting
company specialized in information technology, has released its
best results ever for its year ended March 31, 1998.
For the period ended March 31st, 1998, LGS registered revenues of
$134,641,000, which represent an increase of 46.2 per cent over
revenues of $92,113,000 in 1997. Net profits for the year grew to
$3,502,000, compared to $381,000 in 1997. Net earnings per share
for 1998 were $0.36, up from $0.04 the previous year.
In the fourth quarter, revenues totalled $43,813,000, up 67 per
cent over the figure of $26,235,000 for the same period last year.
Net income for the quarter was $1,288,000 or $0.13 per share,
compared to a net loss of $761,000 or $0.08 per share in 1997.
"These results are certainly the best LGS ever achieved in its
history", commented Andr‚ Gauthier, Senior Executive Vice
President of the company. "We are very encouraged by the
excellent growth we experienced in revenues in all sectors. The
profitability of the company has grown rapidly, as return on
equity for the year reached 19.5 per cent, compared to 2.9 per
cent the year before", he added.
During its financial year, LGS capitalized on the increasing need
for its specialized practices in the fields of Interactive
Commerce, Work Management, Information Warehouse Services,
Software Package Implementation, Health and Year 2000 compliance.
These practices grossed revenues of $45.9 million during the year,
including $21.3 million in the fourth quarter alone. "We are
confident that these specialized practices will continue to
stimulate corporate growth in the months and years to come", said
Mr. Gauthier.
LGS Group is one of Canada's largest Information technology
consulting firms specializing in management, systems integration
and Year 2000 transition. With annual sales exceeding $134
million, LGS employs approximately 1,600 professionals in 15
offices located in Canada and Europe. The company is active in
most of the private and public sectors. |
