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.
