Converge Technology Solutions Corp T.CTS

Alternate Symbol(s): CTSDF

Technology Information Technology Services

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.

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Post by retiredcfon Mar 23, 2022 12:20pm

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Their numbers for the estimates are slightly different but the net result is the same (ie. positive). Will likely see follow up comments on the conference call tomorrow. GLTA

Sales of $505M beat estimates of $478M. EPS of 12c beat estimates of 6c. EBITDA of $34.7M beat consensus of $30.2M. Sales rose 34% and profit tripled. Organic growth for the year was ~10%. Backlog was $350M, up $100M in the quarter. The conference call has not yet occured but the numbers look solid. (5i)

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