TORONTO, Feb. 26,
2024 /CNW/ - NamSys Inc. (TSXV: CTZ), a leading
provider of technology for cash processing and transportation,
today reports the results of operations for the fiscal year. All
amounts referenced herein are in Canadian dollars.
Fiscal Year Highlights (for the twelve months ended October 31, 2023 compared to October 31, 2022)
- Record revenue of $6,093,020
increased by 13% or $698,239 compared
to $5,394,781.
- Gross profit of $3,652,500
increased by 16% or $505,868 compared
to $3,146,632.
- Net income of $1,614,875
($0.06 per share) increased 16% or
$220,435 compared to $1,394,440 ($0.05
per share).
- Net cash of $7,218,312 increased
by 31% or $1,710,190 compared to
$5,508,122 and now represents
$0.26 of net cash per share.
- The Company purchased and cancelled 67,000 common shares as
part of the Normal Course Issuer Bid that commenced August 30, 2023.
"The Company continues to execute on our SaaS strategy. We are
excited for our prospects in 2024 as we expand our product
portfolio and enter new markets," commented Jason Siemens, President and CEO.
The financial statements and Management's Discussion and
Analysis for the fiscal year ending October
31, 2023 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.
