Q3 results Enghouse earns $25.99-million in Q3 2020
2020-09-10 17:10 ET - News Release
Mr. Sam Anidjar reports
ENGHOUSE RELEASES THIRD QUARTER RESULTS
Enghouse Systems Ltd. has released its third-quarter (unaudited) financial results for the period ended July 31, 2020. All of the financial information is in Canadian dollars unless otherwise indicated.
Key financial and operational highlights for the three months ended July 31, 2020 (compared to the same period in 2019) are as follows:
- Revenue grew 29.7% to $131.3 million;
- Results from operating activities increased 56.2% to $42.2 million;
- Net income increased 77.3% to $26.0 million or $0.46 per diluted share;
- Adjusted EBITDA increased 62.4% to $45.6 million;
- Cash flows from operating activities excluding changes in working capital increased 58.8% to $45.3 million;
- Cash, cash equivalents and short-term investments were $228.9 million, an increase from $150.3 million at October 31, 2019, which was achieved after making payments of $19.5 million for dividends and $43.9 million for acquisitions;
- The Company has no long-term debt other than a nominal amount that is non-interest bearing.
In the quarter, the Company experienced growth from both internal sources and from acquisitions. Internal growth includes the expansion of the acquired businesses, particularly Vidyo, since acquisition.