Toronto (April 28, 2016) — NexJ Systems Inc. (TSX: NXJ), a provider of enterprise customer management solutions to the financial services industry, today announced financial results for its first quarter ended March 31, 2016.
- $8.1 M in revenue for the first quarter represents 30% growth over the same period in the prior year
- $282,000 in Adjusted EBITDA for the first quarter is an improvement from the Adjusted EBITDA loss of $788,000 in the same period prior year
- $13.2 M cash balance at the end of the quarter
“I am pleased with our strong first quarter results with 30% revenue growth and improved profitability,” said William M. Tatham, Chief Executive Officer of NexJ. “This builds on the momentum established in 2015.”
Conference Call Information
NexJ will be hosting an earnings report conference call today at 5:00 p.m. ET. The call can be accessed via webcast or by phone by dialing 647-427-7450 (Toronto local or international) or 1-888-231-8191 (North America Toll Free). Investors should dial in approximately 10 minutes before the teleconference is scheduled to begin.
A replay of the call will be available beginning today at 8:00 p.m. ET through 11:59 p.m. on May 5, 2016 and can be accessed by dialing 416-849-0833 (Toronto local) or toll free at 1-855-859-2056 and using password 88654841.
Full financial results are available for PDF Download.
This news release includes certain measures that have not been prepared in accordance with International Financial Reporting Standards (“IFRS”) such as Adjusted EBITDA and Adjusted EBITDA margin which are used to evaluate the Company’s operating performance as a complement to results provided in accordance with IFRS. The Company believes that Adjusted EBITDA and Adjusted EBITDA margin are useful supplemental information as it provides an indication of the results generated by the Company’s main business activities prior to taking into consideration how those activities are financed and taxed and also prior to taking into consideration asset depreciation and the other items listed below.
The term “Adjusted EBITDA” refers to net income (loss) before adjusting for loss from discontinued operation, share-based payment expense, depreciation and amortization, impairment charge on non-financial assets, impairment of loan receivable, lease-exit charges, net, earn-out expense (recovery), foreign exchange gain (loss), finance income, finance costs, and income taxes. The loss from discontinued operation represents the results of operations of the Healthcare business, as separate segment of the Company, which was spun off on January 25, 2016 and which have been excluded from Adjusted EBITDA because the Company is no longer in the Healthcare business and the Healthcare business’s current and historical results do not represent the operating performance of the Company for the quarter ended March 31, 2016. The Adjusted EBITDA for the comparative period in 2015 has also been adjusted accordingly. The impairment of loan receivable has been excluded from Adjusted EBITDA because the loan advanced to the Healthcare business is an interim loan until such time the Healthcare business secures financing and does not represent the operating performance of the Company for the quarter ended March 31, 2016. “Adjusted EBITDA margin” refers to the percentage that Adjusted EBITDA for any period represents as a portion of total revenue for that period.
The term Adjusted EBITDA and Adjusted EBITDA margin are not measures recognized by IFRS and do not have standardized meanings prescribed by IFRS. Therefore, Adjusted EBITDA and Adjusted EBITDA margin may not be comparable to similar measures presented by other issuers. Investors are cautioned that Adjusted EBITDA and Adjusted EBITDA margin should not be construed as an alternative to net income (loss) as determined in accordance with IFRS.
About NexJ Systems Inc.
NexJ Systems provides enterprise customer management solutions to the financial services industry. Our solutions include industry-specific customer relationship management (CRM) for multi-channel engagement and collaboration; customer process management (CPM) for client onboarding and KYC; and customer data management (CDM) to deliver a holistic view of customers across line of business and regional data silos. Our solutions integrate information from multiple systems into a unified view to help firms better understand and share information about their customers to increase loyalty, drive cross-sell and improve the customer experience.
Based in Toronto, NexJ has clients throughout North America, Asia Pacific and in Europe. For more information about NexJ visit www.nexj.com, e-mail firstname.lastname@example.org, or call 416-222-5611. Join us on LinkedIn, follow us on Twitter, subscribe to our YouTube channel, like us on Facebook or hang out with us on Google+.