Record revenue quarter with SaaS bookings up 152%, year-to-date SaaS bookings up 68%
MONTREAL, March 1, 2023 /CNW/ -- Tecsys Inc. (TSX: TCS), an industry-leading supply chain management SaaS company, today announced its results for the third quarter of fiscal year 2023, ended January 31, 2023. All dollar amounts are expressed in Canadian currency and are prepared in accordance with International Financial Reporting Standards (IFRS).
Third Quarter Highlights:
- SaaS revenue increased by 36% to $9.5 million, up from $7.0 million in Q3 2022.
- SaaS subscription bookingsi (measured on an ARRi basis) increased by 152% to $5.8 million, compared to $2.3 million in the third quarter of fiscal 2022.
- SaaS Remaining Performance Obligation (RPOi) increased by 63% to $128.3 million at January 31, 2023, up from $78.5 million at the same time last year.
- Annual Recurring Revenue (ARRi) at January 31, 2023 was up 27% to $75.4 million compared to $59.5 million at January 31, 2022.
- Professional services revenue was up 5% to $13.6 million compared to $12.9 million in Q3 last year.
- Total revenue excluding hardware revenue was $32.5 million, 12% higher than $29.0 million reported for Q3 last year, while total revenue reached a record $38.9 million.
- Gross margin was 44% compared to 43% in the same period in fiscal 2022.
- Total gross profit increased to $17.0 million, up 12% from $15.2 million in Q3 last year.
- Operating expenses increased to $16.0 million, higher by $2.1 million or 15% compared to $13.9 million in Q3 last year.
- Profit from operations was $1.0 million, down from $1.4 million in Q3 last year.
- Net profit was $0.9 million or $0.06 per share on both a basic and fully diluted basis in Q3 2023 compared to $0.9 million or $0.06 per share in Q3 2022.
- Adjusted EBITDAii was $2.8 million, up 1% compared to $2.7 million reported in Q3 last year.
"We are pleased to continue our strong momentum through this quarter, supported by both new logo wins and solid base account activity, including major expansions and new SaaS migrations, which continues to contribute favorably to our bookings," said Peter Brereton, president and CEO of Tecsys Inc. "We continue to see healthy pipeline activity that shows a growing demand for our value proposition to our base customers and to the supply chain market as a whole. In light of these favorable market conditions, we continue to invest to drive organic growth."
Mark Bentler, chief financial officer of Tecsys Inc., added, "Our Q3 performance continues at a solid pace as we drive market expansion and investor value. With a record revenue quarter led by 36% SaaS revenue growth and SaaS bookings up 152%, we are pleased with our topline growth, and we continue to create greater revenue visibility as we grow our RPO, which is up 63% year over year."
|
|
Three months
ended
|
Nine months
ended
|
Trailing 12 months
ended
|
|
Results from operations
|
|
January
31, 2023
|
|
January
31, 2022
|
|
January
31, 2023
|
|
January
31, 2022
|
|
January
31, 2023
|
|
January
31, 2022
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Revenue
|
$
|
38,917
|
$
|
35,411
|
$
|
111,232
|
$
|
102,912
|
$
|
145,520
|
$
|
135,286
|
|
Total Revenue Excluding Hardware
|
|
32,542
|
|
29,024
|
|
94,391
|
|
85,303
|
|
123,561
|
|
112,340
|
|
SaaS Revenue, Maintenance and Support Revenue
|
|
17,900
|
|
15,167
|
|
51,065
|
|
43,911
|
|
66,781
|
|
57,747
|
|
Professional Services Revenue
|
|
13,569
|
|
12,942
|
|
40,739
|
|
39,144
|
|
53,635
|
|
51,319
|
|
Gross Profit
|
|
17,008
|
|
15,233
|
|
48,445
|
|
45,180
|
|
63,575
|
|
60,903
|
|
Gross Margin %
|
|
44 %
|
|
43 %
|
|
44 %
|
|
44 %
|
|
44 %
|
|
45 %
|
|
Operating Expenses
|
|
15,968
|
|
13,883
|
|
46,267
|
|
41,115
|
|
60,086
|
|
54,207
|
|
Op. Ex. As % of Revenue
|
|
41 %
|
|
39 %
|
|
42 %
|
|
40 %
|
|
41 %
|
|
40 %
|
|
Profit from Operations
|
|
1,040
|
|
1,350
|
|
2,178
|
|
4,065
|
|
3,489
|
|
6,696
|
|
Adjusted EBITDAii
|
|
2,774
|
|
2,738
|
|
7,035
|
|
8,400
|
|
8,765
|
|
12,317
|
|
EPS basic
|
$
|
0.06
|
$
|
0.06
|
$
|
0.11
|
$
|
0.13
|
$
|
0.29
|
$
|
0.27
|
|
EPS diluted
|
$
|
0.06
|
$
|
0.06
|
$
|
0.11
|
$
|
0.13
|
$
|
0.28
|
$
|
0.27
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
License Booking
|
|
1,058
|
|
515
|
|
2,313
|
|
1,862
|
|
2,853
|
|
2,614
|
|
SaaS ARR Bookings
|
|
5,831
|
|
2,315
|
|
12,535
|
|
7,463
|
|
16,992
|
|
10,956
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Annual Recurring Revenue
|
|
|
|
|
|
|
|
|
|
75,361
|
|
59,540
|
|
SaaS RPO
|
|
|
|
|
|
|
|
|
|
128,313
|
|
78,498
|
|
Professional Services Backlog
|
|
|
|
|
|
|
|
|
|
38,167
|
|
29,521
|
Year-to-date performance for first nine months of fiscal 2023:
- SaaS revenue increased by 37% to $26.3 million, up from $19.2 million the same period of fiscal 2022.
- SaaS subscription bookingsi (measured on an ARRi basis) increased to $12.5 million, 68% higher from $7.5 million in the same period of fiscal 2022.
- Professional services revenue for the nine-month period was up 4% to $40.7 million compared to $39.1 million in the same period of fiscal 2022.
- Total revenue excluding hardware revenue was $94.4 million, 11% higher than $85.3 million reported for the same period of fiscal 2022.
- Gross margin was 44% for both periods in fiscal 2023 and fiscal 2022.
- Total gross profit increased to $48.4 million, up 7% from $45.2 million in the same period of fiscal 2022.
- Operating expenses increased to $46.3 million, higher by $5.2 million or 13% compared to $41.1 million in the same period of fiscal 2022.
- Profit from operations was $2.2 million, down from $4.1 million in the same period of fiscal 2022.
- Net profit was $1.6 million or $0.06 per share on both a basic and fully diluted basis in the first nine months of fiscal 2023 compared to a net profit of $1.9 million or $0.13 per share for the same period in fiscal 2022.
- Adjusted EBITDAii was $7.0 million, down 16% compared to $8.4 million reported in the same period in fiscal 2022.
On March 1, 2023, the Company declared a quarterly dividend of $0.075 per share to be paid on April 13, 2023 to shareholders of record on March 23, 2023.
Pursuant to the Canadian Income Tax Act, dividends paid by the Company to Canadian residents are considered to be "eligible" dividends.
i See Key Performance Indicators in Management's Discussion and Analysis of the Q3 2023 Financial Statements.
iiSee Non-IFRS Performance Measures in Management's Discussion and Analysis of the Q3 2023 Financial Statements.
Third Quarter Fiscal 2023 Results Conference Call
Date: March 2, 2023
Time: 8:30am EDT
Phone number: (877) 954-0686 or (416) 981-9014
The call can be replayed until March 9, 2023 by calling:
(800) 558-5253 or (416) 626-4100 (access code: 22026120)
About Tecsys
Tecsys is a global provider of cloud-based supply chain solutions that equip the borderless enterprise for growth and competitive advantage. Serving healthcare, distribution and converging commerce industries, and spanning multiple complex, regulated and high-volume markets, Tecsys delivers dynamic and powerful solutions for warehouse management, distribution and transportation management, supply management at point of use, order management and fulfillment, as well as financial management and analytics solutions.
Tecsys' shares are listed on the Toronto Stock Exchange under the ticker symbol TCS. For more information on Tecsys, visit www.tecsys.com.
Forward Looking Statements
The statements in this news release relating to matters that are not historical fact are forward looking statements that are based on management's beliefs and assumptions. Such statements are not guarantees of future performance and are subject to a number of uncertainties, including but not limited to future economic conditions, the markets that Tecsys Inc. serves, the actions of competitors, major new technological trends, and other factors beyond the control of Tecsys Inc., which could cause actual results to differ materially from such statements. More information about the risks and uncertainties associated with Tecsys Inc.'s business can be found in the MD&A section of the Company's annual report and the most recently filed annual information form. These documents have been filed with the Canadian securities commissions and are available on our website (www.tecsys.com) and on SEDAR (www.sedar.com).
Copyright © Tecsys Inc. 2023. All names, trademarks, products, and services mentioned are registered or unregistered trademarks of their respective owners.
Non-IFRS Measures
Reconciliation of EBITDA and Adjusted EBITDA
EBITDA is calculated as earnings before interest expense, interest income, income taxes, depreciation and amortization. Adjusted EBITDA is calculated as EBITDA before stock-based compensation, gain on remeasurement of lease liability and recognition of tax credits generated in prior periods. The exclusion of interest expense, interest income and income taxes eliminates the impact on earnings derived from non-operational activities, and the exclusion of depreciation, amortization, share-based compensation, gain on remeasurement of lease liability and recognition of tax credits generated in prior periods eliminates the non-cash impact of these items.
The Company believes that these measures are useful measures of financial performance without the variation caused by the impacts of the items described above and that could potentially distort the analysis of trends in our operating performance. In addition, they are commonly used by investors and analysts to measure a company's performance, its ability to service debt and to meet other payment obligations, or as a common valuation measurement. Excluding these items does not imply that they are necessarily non-recurring. Management believes these non-GAAP financial measures, in addition to conventional measures prepared in accordance with IFRS, enable investors to evaluate the Company's operating results, underlying performance and future prospects in a manner similar to management. Although EBITDA and Adjusted EBITDA are frequently used by securities analysts, lenders and others in their evaluation of companies, they have limitations as an analytical tool, and should not be considered in isolation, or as a substitute for analysis of the Company's results as reported under IFRS.
The reconciliation of EBITDA and Adjusted EBITDA to the most directly comparable IFRS measure is provided below.
|
Three months
ended January 31,
|
Nine months
ended January 31,
|
Trailing 12 months
ended January 31,
|
|
(in thousands of CAD)
|
|
2023
|
|
2022
|
|
2023
|
|
2022
|
|
2023
|
|
2022
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit for the period
|
$
|
888
|
$
|
940
|
$
|
1,643
|
$
|
1,892
|
$
|
4,229
|
$
|
3,912
|
|
Adjustments for:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation of property and equipment and right-of-use assets
|
|
476
|
|
551
|
|
1,335
|
|
1,647
|
|
1,850
|
|
2,214
|
|
Amortization of deferred development costs
|
|
135
|
|
80
|
|
351
|
|
203
|
|
438
|
|
263
|
|
Amortization of other intangible assets
|
|
411
|
|
408
|
|
1,201
|
|
1,230
|
|
1,583
|
|
1,634
|
|
Interest expense
|
|
92
|
|
138
|
|
389
|
|
444
|
|
567
|
|
602
|
|
Interest income
|
|
(221)
|
|
(337)
|
|
(475)
|
|
(417)
|
|
(532)
|
|
(435)
|
|
Income taxes
|
|
455
|
|
537
|
|
869
|
|
2,057
|
|
(242)
|
|
2,573
|
|
EBITDA
|
$
|
2,236
|
$
|
2,317
|
$
|
5,313
|
$
|
7,056
|
$
|
7,893
|
$
|
10,763
|
|
Adjustments for:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stock based compensation
|
|
538
|
|
421
|
|
1,722
|
|
1,344
|
|
2,062
|
|
1,554
|
|
Gain on remeasurement of lease liability
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(573)
|
|
-
|
|
Recognition of tax credits generated in prior periods
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(617)
|
|
-
|
|
Adjusted EBITDAii
|
$
|
2,774
|
$
|
2,738
|
$
|
7,035
|
$
|
8,400
|
$
|
8,765
|
$
|
12,317
|
|
Condensed Interim Consolidated Statements of Financial Position
As at January 31, 2023 and April 30, 2022
(Unaudited)
(In thousands of Canadian dollars)
|
|
|
|
January 31,
2023
|
April 30,
2022
|
|
Assets
|
|
|
|
|
|
|
Current assets
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
$
|
12,201
|
$
|
23,004
|
|
Short-term investments
|
|
|
15,651
|
|
20,239
|
|
Accounts receivable
|
|
|
24,001
|
|
16,962
|
|
Work in progress
|
|
|
1,950
|
|
1,579
|
|
Other receivables
|
|
|
1,404
|
|
234
|
|
Taxcredits
|
|
|
9,793
|
|
5,224
|
|
Inventory
|
|
|
1,309
|
|
806
|
|
Prepaid expenses
|
|
|
7,874
|
|
6,392
|
|
Total current assets
|
|
|
74,183
|
|
74,440
|
|
Non-current assets
|
|
|
|
|
|
|
Other long-term receivables
|
|
|
182
|
|
192
|
|
Taxcredits
|
|
|
4,233
|
|
3,782
|
|
Property and equipment
|
|
|
1,750
|
|
2,064
|
|
Right-of-use assets
|
|
|
4,295
|
|
4,547
|
|
Contract acquisition costs
|
|
|
3,895
|
|
3,177
|
|
Deferred development costs
|
|
|
2,116
|
|
1,870
|
|
Other intangible assets
|
|
|
9,549
|
|
10,301
|
|
Goodwill
|
|
|
17,304
|
|
16,863
|
|
Deferred tax assets
|
|
|
8,617
|
|
8,608
|
|
Total non-current assets
|
|
|
51,941
|
|
51,404
|
|
Total assets
|
|
$
|
126,124
|
$
|
125,844
|
|
Liabilities
|
|
|
|
|
|
|
Current liabilities
|
|
|
|
|
|
|
Accounts payable and accrued liabilities
|
|
$
|
19,566
|
$
|
16,971
|
|
Deferred revenue
|
|
|
29,197
|
|
24,689
|
|
Current portion of long-term debt
|
|
|
-
|
|
1,200
|
|
Lease obligations
|
|
|
728
|
|
662
|
|
Total current liabilities
|
|
|
49,491
|
|
43,522
|
|
Non-current liabilities
|
|
|
|
|
|
|
Long-term debt
|
|
|
-
|
|
7,200
|
|
Deferred tax liabilities
|
|
|
1,350
|
|
1,258
|
|
Lease obligations
|
|
|
4,805
|
|
5,181
|
|
Total non-current liabilities
|
|
|
6,155
|
|
13,639
|
|
Total liabilities
|
|
$
|
55,646
|
$
|
57,161
|
|
Equity
|
|
|
|
|
|
|
Share capital
|
|
$
|
44,112
|
$
|
43,973
|
|
Contributed surplus
|
|
|
14,871
|
|
13,176
|
|
Retained earnings
|
|
|
11,480
|
|
12,968
|
|
Accumulated other comprehensive income (loss)
|
|
|
15
|
|
(1,434)
|
|
Total equity attributable to the owners of the Company
|
|
|
70,478
|
|
68,683
|
|
Total liabilities and equity
|
|
$
|
126,124
|
$
|
125,844
|
|
Condensed Interim Consolidated Statements of Income and Comprehensive Income
For the three and nine-month periods ended January 31, 2023 and 2022
(Unaudited)
(In thousands of Canadian dollars, except per share data)
|
|
|
|
Three Months Ended
January 31,
|
Nine Months Ended
January 31,
|
|
|
2023
|
2022
|
2023
|
2022
|
|
Revenue:
|
|
|
|
|
|
|
|
|
|
|
SaaS
|
|
$
|
9,544
|
$
|
7,003
|
$
|
26,343
|
$
|
19,221
|
|
Maintenance and Support
|
|
|
8,356
|
|
8,164
|
|
24,722
|
|
24,690
|
|
Professional Services
|
|
|
13,569
|
|
12,942
|
|
40,739
|
|
39,144
|
|
License
|
|
|
1,073
|
|
915
|
|
2,587
|
|
2,248
|
|
Hardware
|
|
|
6,375
|
|
6,387
|
|
16,841
|
|
17,609
|
|
Total revenue
|
|
|
38,917
|
|
35,411
|
|
111,232
|
|
102,912
|
|
Cost of revenue
|
|
|
21,909
|
|
20,178
|
|
62,787
|
|
57,732
|
|
Gross profit
|
|
|
17,008
|
|
15,233
|
|
48,445
|
|
45,180
|
|
Operating expenses:
|
|
|
|
|
|
|
|
|
|
|
Sales and marketing
|
|
|
7,349
|
|
6,202
|
|
20,302
|
|
17,906
|
|
General and administration
|
|
|
2,813
|
|
2,553
|
|
8,619
|
|
8,213
|
|
Research and development, net of tax credits
|
|
|
5,806
|
|
5,128
|
|
17,346
|
|
14,996
|
|
Total operating expenses
|
|
|
15,968
|
|
13,883
|
|
46,267
|
|
41,115
|
|
Profit from operations
|
|
|
1,040
|
|
1,350
|
|
2,178
|
|
4,065
|
|
Net finance (income) costs
|
|
|
(303)
|
|
(127)
|
|
(334)
|
|
116
|
|
Profit before income taxes
|
|
|
1,343
|
|
1,477
|
|
2,512
|
|
3,949
|
|
Income tax expense
|
|
|
455
|
|
537
|
|
869
|
|
2,057
|
|
Net profit
|
|
$
|
888
|
$
|
940
|
$
|
1,643
|
$
|
1,892
|
|
Other comprehensive income (loss):
|
|
|
|
|
|
|
|
|
|
|
Effective portion of changes in fair value on designated revenue hedges
|
|
|
2,368
|
|
(516)
|
|
515
|
|
(641)
|
|
Exchange differences on translation of foreign operations
|
|
|
742
|
|
(107)
|
|
934
|
|
(592)
|
|
Comprehensive income
|
|
$
|
3,998
|
$
|
317
|
$
|
3,092
|
$
|
659
|
|
Basic and diluted earnings per common share
|
|
$
|
0.06
|
$
|
0.06
|
$
|
0.11
|
$
|
0.13
|
|
Condensed Interim Consolidated Statements of Cash Flows
For the three and nine-month periods ended January 31, 2023 and 2022
(Unaudited)
(In thousands of Canadian dollars)
|
|
|
|
Three Months Ended
January 31,
|
Nine Months Ended
January 31,
|
|
|
|
2023
|
|
2022
|
|
2023
|
|
2022
|
|
Cash flows from operating activities:
|
|
|
|
|
|
|
|
|
|
|
Net profit
|
|
$
|
888
|
$
|
940
|
$
|
1,643
|
$
|
1,892
|
|
Adjustments for:
|
|
|
|
|
|
|
|
|
|
|
Depreciation of property and equipment and right-of-use-assets
|
|
|
476
|
|
551
|
|
1,335
|
|
1,647
|
|
Amortization of deferred development costs
|
|
|
135
|
|
80
|
|
351
|
|
203
|
|
Amortization of other intangible assets
|
|
|
411
|
|
408
|
|
1,201
|
|
1,230
|
|
Interest expense (income) and foreign exchange (gain) loss
|
|
|
(303)
|
|
(127)
|
|
(334)
|
|
116
|
|
Unrealized foreign exchange and other
|
|
|
(273)
|
|
292
|
|
418
|
|
1,220
|
|
Non-refundable tax credits
|
|
|
(806)
|
|
(608)
|
|
(1,666)
|
|
(1,340)
|
|
Stock-based compensation
|
|
|
538
|
|
421
|
|
1,722
|
|
1,344
|
|
Income taxes
|
|
|
100
|
|
484
|
|
430
|
|
1,857
|
|
Net cash from operating activities excluding changes in non-cash working capital items related to operations
|
|
|
1,166
|
|
2,441
|
|
5,100
|
|
8,169
|
|
Accounts receivable
|
|
|
(2,480)
|
|
(1,920)
|
|
(6,870)
|
|
(4,635)
|
|
Work in progress
|
|
|
(288)
|
|
606
|
|
(359)
|
|
(1,216)
|
|
Other receivables
|
|
|
9
|
|
67
|
|
(221)
|
|
139
|
|
Tax credits
|
|
|
(1,224)
|
|
(809)
|
|
(3,353)
|
|
(2,630)
|
|
Inventory
|
|
|
(351)
|
|
(263)
|
|
(494)
|
|
(328)
|
|
Prepaid expenses
|
|
|
(1,291)
|
|
(924)
|
|
(1,473)
|
|
(1,832)
|
|
Contract acquisition costs
|
|
|
(388)
|
|
(12)
|
|
(718)
|
|
(110)
|
|
Accounts payable and accrued liabilities
|
|
|
1,283
|
|
2,269
|
|
1,202
|
|
(2,414)
|
|
Deferred revenue
|
|
|
(1,198)
|
|
(593)
|
|
4,455
|
|
1,348
|
|
Changes in non-cash working capital items related to operations
|
|
|
(5,928)
|
|
(1,579)
|
|
(7,831)
|
|
(11,678)
|
|
Net cash (used in) provided by operating activities
|
|
|
(4,762)
|
|
862
|
|
(2,731)
|
|
(3,509)
|
|
Cash flows from financing activities:
|
|
|
|
|
|
|
|
|
|
|
Repayment of long-term debt
|
|
|
(7,800)
|
|
(300)
|
|
(8,400)
|
|
(916)
|
|
Transfers from short-term investments
|
|
|
5,000
|
|
-
|
|
5,000
|
|
-
|
|
Payment of lease obligations
|
|
|
(148)
|
|
(179)
|
|
(570)
|
|
(634)
|
|
Payment of dividends
|
|
|
(1,093)
|
|
(1,018)
|
|
(3,131)
|
|
(2,907)
|
|
Refund of acquired tax liability
|
|
|
-
|
|
299
|
|
-
|
|
299
|
|
Interest paid
|
|
|
(92)
|
|
(138)
|
|
(389)
|
|
(444)
|
|
Issuance of common shares on exercise of stock options
|
|
|
15
|
|
-
|
|
112
|
|
1,020
|
|
Net cash used in financing activities
|
|
|
(4,118)
|
|
(1,336)
|
|
(7,378)
|
|
(3,582)
|
|
Cash flows from investing activities:
|
|
|
|
|
|
|
|
|
|
|
Interest received
|
|
|
221
|
|
38
|
|
475
|
|
118
|
|
Payments related to prior business acquisitions
|
|
|
-
|
|
(500)
|
|
-
|
|
(500)
|
|
Acquisitions of property and equipment
|
|
|
(279)
|
|
(85)
|
|
(510)
|
|
(619)
|
|
Acquisitions of other intangible assets
|
|
|
(62)
|
|
(7)
|
|
(62)
|
|
(29)
|
|
Deferred development costs
|
|
|
(130)
|
|
(229)
|
|
(597)
|
|
(910)
|
|
Net cash used in investing activities
|
|
|
(250)
|
|
(783)
|
|
(694)
|
|
(1,940)
|
|
Net decrease in cash and cash equivalents during the period
|
|
|
(9,130)
|
|
(1,257)
|
|
(10,803)
|
|
(9,031)
|
|
Cash and cash equivalents - beginning of period
|
|
|
21,331
|
|
17,978
|
|
23,004
|
|
25,752
|
|
Cash and cash equivalents - end of period
|
|
$
|
12,201
|
$
|
16,721
|
$
|
12,201
|
$
|
16,721
|
|
Condensed Interim Consolidated Statements of Changes in Equity
For the nine-month periods ended January 31, 2023 and 2022
(Unaudited)
(In thousands of Canadian dollars, except number of shares)
|
|
|
Share capital
|
Contributed
surplus
|
Accumulated
other
comprehensive
income (loss)
|
Retained earnings
|
Total
|
|
Number
|
|
Amount
|
|
|
|
|
|
Balance, May 1, 2022
|
14,562,895
|
$
|
43,973
|
$
|
13,176
|
$
|
(1,434)
|
$
|
12,968
|
$
|
68,683
|
|
Net profit
|
-
|
|
-
|
|
-
|
|
-
|
|
1,643
|
|
1,643
|
|
Other comprehensive income:
|
|
|
|
|
|
|
|
|
|
|
|
|
Effective portion of changes in fair value on designated revenue hedges
|
-
|
|
-
|
|
-
|
|
515
|
|
-
|
|
515
|
|
Exchange difference on translation of foreign operations
|
-
|
|
-
|
|
-
|
|
934
|
|
-
|
|
934
|
|
Total comprehensive income
|
-
|
|
-
|
|
-
|
|
1,449
|
|
1,643
|
|
3,092
|
|
Stock-based Compensation
|
-
|
|
-
|
|
1,722
|
|
-
|
|
-
|
|
1,722
|
|
Dividends to equity owners
|
-
|
|
-
|
|
-
|
|
-
|
|
(3,131)
|
|
(3,131)
|
|
Share options exercised
|
7,054
|
|
139
|
|
(27)
|
|
-
|
|
-
|
|
112
|
|
Total transactions with owners of the Company
|
7,054
|
|
139
|
|
1,695
|
|
-
|
|
(3,131)
|
|
(1,297)
|
|
Balance, January 31, 2023
|
14,569,949
|
$
|
44,112
|
$
|
14,871
|
$
|
15
|
$
|
11,480
|
$
|
70,478
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, May 1, 2021
|
14,505,095
|
$
|
42,700
|
$
|
11,745
|
$
|
226
|
$
|
12,419
|
$
|
67,090
|
|
Net profit
|
-
|
|
-
|
|
-
|
|
-
|
|
1,892
|
|
1,892
|
|
Other comprehensive income:
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
|
|
Effective portion of changes in fair value on designated revenue hedges
|
-
|
|
-
|
|
-
|
|
(641)
|
|
-
|
|
(641)
|
|
Exchange difference on translation of foreign operations
|
-
|
|
-
|
|
-
|
|
(592)
|
|
-
|
|
(592)
|
|
Total comprehensive (loss) income
|
-
|
|
-
|
|
-
|
|
(1,233)
|
|
1,892
|
|
659
|
|
Stock-based Compensation
|
-
|
|
-
|
|
1,344
|
|
-
|
|
-
|
|
1,344
|
|
Dividends to equity owners
|
-
|
|
-
|
|
-
|
|
-
|
|
(2,907)
|
|
(2,907)
|
|
Share options exercised
|
57,800
|
|
1,273
|
|
(253)
|
|
-
|
|
-
|
|
1,020
|
|
Total transactions with owners of the Company
|
57,800
|
$
|
1,273
|
$
|
1,091
|
$
|
-
|
|
(2,907)
|
$
|
(543)
|
|
Balance, January 31, 2022
|
14,562,895
|
$
|
43,973
|
$
|
12,836
|
$
|
(1,007)
|
$
|
11,404
|
$
|
67,206
|
SOURCE Tecsys Inc.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/March2023/01/c5561.html