“Time Clock Now is purpose-built to seamlessly integrate and complement Microsoft Business Central’s capabilities,” said
The addition of Time Clock Now’s capabilities into Sylogist’s 100% cloud based Sylogist Gov, Ed, Mission and Payroll platforms represents the achievement of a targeted milestone on the Company’s technology roadmap in an expedited manner and the expansion of its addressable market. Over the next 24 months, the exciting new offering is expected to see strong adoption from
About
About Action
Action Micro Technologies is a full-service software consultation company, providing the word’s most powerful business management solutions to small and medium-sized businesses. The company offers expertise in
Forward-looking Statements
Certain statements in this news release may be forward-looking statements within the meaning of applicable securities laws and regulations. These statements typically use words such as will, expect, believe, estimate, project, anticipate, plan, may, should, could and would, or the negative of these terms, variations thereof or similar terminology. By their very nature, forward-looking statements are based on assumptions and involve inherent risks and uncertainties, both general and specific in nature. It is therefore possible that the beliefs and plans and other forward-looking expectations expressed herein will not be achieved or will prove inaccurate. Forward-looking statements in this news release include statements regarding the integration of Time Clock Now into Sylogist’s platforms, its effectiveness, adoption and availability to Sylogist’s customers and the impact of the foregoing on financial results for
Non-IFRS Financial Measures
This new release includes reference to certain measures which are not prepared in accordance with International Financial Reporting Standards (“IFRS”), namely “EBITDA” and “ARR”. These terms are not measures that have any standardized meaning prescribed by IFRS and are considered non-IFRS measures. While these measures may not be comparable to similar measures presented by other issuers, these measures have been described and presented in this news release to provide shareholders and potential investors with additional information regarding the Company’s expected results arising from the acquisition of Time Clock Now. When assessing the Company’s operating performance or liquidity, investors and others should not consider this data in isolation or as a substitute for net profit, cash flow from operating activities or other cash flow data calculated in accordance with IFRS. In addition, the Company’s calculation of these non-IFRS measures may not be comparable to similarly titled measures utilized by other companies since other companies may not calculate non-IFRS measures in the same manner.
EBITDA is defined as: earnings before interest, taxes, depreciation, and amortization, and is an alternative measure of the Company's overall financial performance. ARR is defined as: annualized value of monthly recurring revenues attributable to customer contracts. For further information regarding non-IFRS measures used by the Company, please refer to the management’s discussion and analysis of the Company, copies of which are available on
For further information contact:
(416) 491-8004
ir@sylogist.com
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