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TECSYS REVENUE GROWS BY OVER 38%
Market Share Increased, Positive Cash Flow Achieved, Significant Product Introduced
MONTREAL, March 1st , 2001 - TECSYS Inc. (TSE: TCS), a leading provider of enterprise software for e-commerce-driven organizations, announced today another record quarter with revenue of US $8.7 million for the 3rd quarter of fiscal 2001, ended January 31st, 2001, a 38% increase over the same period in fiscal 2000. This is the second consecutive quarter in which TECSYS reports record revenue. Revenue for the nine months ended January 31st, 2001 was US $24.1 million compared to US $19.8 million during the same period last year, an increase of 22%.
Achievements in New Business
During the quarter, TECSYS won several new contracts for its e-fulfillment as well as its transportation software and professional services, with such significant customers as Pitney Bowes, Pfizer, Glaxo-Wellcome, USBuild.com and American Bank Note.
Peter Brereton, President and CO-CEO of TECSYS stated, We are pleased with these competitive wins, they represent a very positive sign of our continued acceptance in the market, resulting in good growth and further strengthening our leadership position in this industry."
The new wins include a multi-year transactional-based software and services contract with a major B2B distribution supplier who's customers include two of the largest homebuilders in the United States, each with more than 250,000 homes built to date. In addition, TECSYS won an important contract with one of the largest coupon distributors in the US. Using TECSYS' software, millions of dollars of stamps will be distributed to over 44,000 sites that include grocery stores and department stores.
Significant Product Initiatives/Introduction
During the quarter, TECSYS continued to make progress towards the completion of its Internet--based applications. Furthermore, it introduced its Transportation Management System (TMS). TMS is a powerful, multi-carrier, shipping manifesting system that optimizes the outbound shipping of small parcel carrier freight selection like FedEx, UPS and many others. TECSYS' TMS has already been sold to several of its existing and prospective clients.
About TECSYS
TECSYS is a leading provider of enterprise solutions for e-commerce-driven organisations. TECSYS' software solutions span the office to the shipping dock and beyond. They include Executive Information System, Order Capture & Order Management, Fulfillment Management, Warehouse Management, Transportation Management, Reverse Logistics, Electronic Commerce, Procurement, Financial Management, and Value-added Services. The company's customers feature some 300 mid-sized and Fortune 1000 corporations in telecommunications, health care, consumer goods, electrical products, computers, hardware and other vertical markets. Clients are comprised of companies such as American Bank Note, Sanyo Fisher, Shoppers Drug Mart, Colgate-Palmolive, Pitney Bowes, United Distillers, USBuild.com, Uni-Sélect, Tana/Kiwi Brands, SP Richardsa division of Genuine Parts Corp and Cord Logisticsa Division of Cardinal Health.
TECSYS Inc. shares are listed on The Toronto Stock Exchange under the ticker symbol TCS.
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For more information:
Robert Nehme
Vice President of Marketing
TECSYS Inc.
(514) 333-0000
(800) 922-8649
E-mail: robert.nehme@tecsys.com
www.tecsys.com
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. All names, trademarks, products and services mentioned are registered or unregistered trademarks of their respective owners.
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