NamSys Inc. Reports First Quarter Results

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NamSys Inc. Reports First Quarter Results

Canada NewsWire

TORONTO, April 2, 2024 /CNW/ - NamSys Inc. (TSXV: CTZ), a leading provider of technology for cash processing and transportation, today announced its financial results for the first quarter of fiscal 2024 ended January 31, 2024. All amounts referenced herein are in Canadian dollars.

First Quarter Highlights (for the three months ended January 31, 2024 compared to January 31, 2023)

  • Revenue of $1,584,272, compared to $1,497,364, an improvement of 6%.
  • Net income for the quarter was up 12% to $425,584 ($0.02 per share) from $378,864 ($0.01 per share).
  • The Company purchased and cancelled an additional 120,300 common shares. A total of 187,300 shares have been purchased and cancelled as part of the Normal Course Issuer Bid that commenced August 30, 2023.

"I'm proud of our team's dedication to product quality and delivering unparalleled support to our customers," commented Jason Siemens, President & CEO.

The financial statements and Management's Discussion and Analysis for the fiscal quarter ended January 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.

Cision View original content: http://www.newswire.ca/en/releases/archive/April2024/02/c7072.html

Copyright CNW Group 2024

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