TORONTO, June 27,
2024 /CNW/ - NamSys Inc. (TSXV: CTZ), a leading
provider of technology for cash processing and transportation,
today announced its financial results for the second quarter of
fiscal 2024 ended April 30th. All
amounts referenced herein are in Canadian dollars.
Second Quarter Highlights (for the three months ended
April 30, 2024 compared to
April 30, 2023):
- Revenue of $1,660,620, compared
to $1,519,788, an improvement of
9%.
- Net income for the quarter was up 28% to $523,928 ($0.02 per
share) from $410,917 ($0.02 per share).
- The Company purchased and cancelled an additional 89,500 common
shares. A total of 276,800 shares have been purchased and cancelled
as part of the Normal Course Issuer Bid that commenced August 30, 2023.
- On May 21, 2024, the Company
announced a special dividend of $0.05
per common share of the Company, paid on June 11, 2024, to holders of record of common
shares on May 29, 2024.
"We are confident in sustaining our growth, with our investments
in technology and talent positioning us to capitalize on new
opportunities in cash processing and transportation." commented
Jason Siemens, President &
CEO.
The financial statements and Management's Discussion and
Analysis for the fiscal quarter ended April
30, 2024 are available under the Company's profile on SEDAR
at www.sedarplus.ca.
About NamSys Inc.
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.
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of 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.