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Converge Technology Solutions Corp T.CTS

Alternate Symbol(s):  CTSDF

Converge Technology Solutions Corp. is a services-led, software-enabled, information technology (IT) and cloud solutions provider. Its global approach delivers advanced analytics, artificial intelligence (AI), application modernization, cloud platforms, cybersecurity, digital infrastructure, and digital workplace offerings to clients across various industries. It supports these solutions with advisory, implementation, and managed services across all IT vendors in the marketplace. Its segments include Converge Hybrid IT Solutions (Converge), and Portage Software-as-a-Solution (SaaS) Solutions. Converge is focused on delivering advanced analytics, application modernization, cloud, cybersecurity, digital infrastructure, digital workplace, and managed services offerings and provision of hardware and software products and solutions to clients across various industries and organizations. SaaS is focused on digital transactions between individuals, businesses, and government organizations.


TSX:CTS - Post by User

Post by retiredcfon Nov 15, 2021 6:54am
307 Views
Post# 34126076

Earnings Assessment

Earnings AssessmentCTS EPS of $0.02 missed estimates of $0.05 and revenue of $367.349M beat estimates of $365.686M. The company has missed the most recent four EPS estimates, while mostly beating revenue estimates. Revenue of $367.3M increased by 93% over the prior year and gross profit margin came in at 22.8%. The company announced the completion of several acquisitions as well as announced new acquisitions and product offerings. Net profit margins increased over the prior year, the company continues to have very little debt, and the valuation is quite reasonable at these prices. It has a decent cash balance and generates positive free cash flows. Despite the earnings miss, we feel that this is a very positive quarter for the company, and it has demonstrated that its pipeline is quite active.

So said the team at 5iResearch who always like to see increasing profit margins. GLTA
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