The Montreal, Quebec-based supply chain solutions provider saw net profits jump 63.5 percent from the prior year period to $888,000 Canadian as revenues grew 11.5 percent to C$17.4 million, according to the company’s most recent financial statements.
Montreal, Quebec-based supply chain solutions provider TECSYS Inc. saw net profits jump 63.5 percent to $888,000 Canadian (U.S. $665,570) in the third quarter of its fiscal year 2017, ended Jan. 31, compared with the same period of the prior fiscal year, according to the company’s most recent financial statements.
Earnings per share (EPS) stood at C$0.07 in third quarter FY2017, up from C$0.04 per share in third quarter 2016, as revenues grew 11.5 percent year-over-year to C$17.4 million.
Total contract bookings grew 62.2 percent to C$14.6 million for the quarter.
“The third quarter of fiscal 2017 showed strong additional sales from our base accounts in healthcare along with two new contracts added by our complex distribution team,” TECSYS President and CEO Peter Brereton said of the results. “This momentum drove an 11 percent increase in revenue, which our continued discipline on operating expenses allowed us to leverage into earnings growth and a 45 percent increase in EBITDA.
“While we continue to see some effect from the uncertainty surrounding the Affordable Care Act, we are pleased with the continuing investment from our hospital customers as they expand their utilization of our product suite. We were also successful in winning another government sector project, this time in the UK,” he added.
“We have seen the same positive trends when we look at our progress on a trailing twelve month basis, with a 15 percent increase in revenue and a 76 percent increase in EBITDA,” said VP Finance & Administration and CFO Berty Ho-Wo-Cheong. “We expect further positive results as we continue to penetrate our base accounts and deliver operating leverage.”
TECSYS specializes in supply chain solutions for health systems and hospitals, with over 600 midsize and Fortune 1000 customers in the healthcare, service parts, third-party logistics, and general wholesale high-volume distribution industries.
TECSYS boosts earnings, revenues in Q3 FY2017
