TORONTO, Sept. 25, 2024 /CNW/ - NamSys Inc. (TSXV: CTZ), a leading provider of technology for cash processing and transportation, today announced its financial results for the third quarter of fiscal 2024 ended July 31st. All amounts referenced herein are in Canadian dollars.
Third Quarter Highlights (for the three months ended July 31, 2024 compared to July 31, 2023)
- Revenue of $1,741,032, compared to $1,519,831, an improvement of 15%.
- Net income for the quarter was up 61% to $581,481 ($0.02 per share) from $362,049 ($0.01 per share).
- Gross margin of 64% and operating margin of 40%
- The Company purchased and cancelled an additional 128,200 common shares. A total of 405,000 shares were purchased and cancelled as part of the Normal Course Issuer Bid that commenced August 30, 2023 and expired August 30, 2024.
"We remain committed to driving innovation and excellence in this market, leveraging technology and our skilled support and development staff to seize new opportunities," stated Jason Siemens, President & CEO.
The financial statements and Management's Discussion and Analysis for the fiscal quarter ended July 31, 2024 are available under the Company's profile on SEDAR at www.sedarplus.ca.
NamSys Inc. products are designed to bring efficiency to the processing of currency and other value instruments in retailers, financial institutions, and cash-in-transit providers. NamSys' proprietary systems for this market are sold as software-as-a-service subscriptions and operate in the public cloud service providers.
The TSX Venture Exchange has neither approved nor disapproved of the information contained in this release. This Media Release may contain forward-looking statements, which reflect the Corporation's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual events could differ from those projected herein and depend on a number of factors including the success of the Corporation's sales strategies.
SOURCE NamSys Inc.
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