Unisync Corp. reported consolidated earnings results for the fourth quarter and full year ended September 30, 2016. The company reported revenues of $52.7 million for the 12 month period ended September 30, 2016, representing an increase of 18% over the last fiscal years' revenues of $44.8 million. Consolidated gross profit for fiscal 2016 declined to 15% of revenue from 16% in the prior year mainly due to the impact of the weakening in the average rate of exchange on the purchase of US dollar denominated product. Cash flow from operations, before non-cash working capital items and distributions to a minority partner, was $0.6 million for the year ended September 30, 2016 down from $0.9 million in fiscal 2015.

Fourth quarter fiscal 2016 revenues were $13.0 million versus $12.0 million for the corresponding quarter in Fiscal 2015. Cash flow from operations for the three months ended September 30, 2016 was $0.4 million versus negative $0.4 million for the same quarter in fiscal 2015.

The recent stabilization of the Canadian dollar against the US dollar together with product sourcing changes are expected to enhance Unisync Group Limited's (UGL) margins in fiscal 2017. The combination of improved margins along with an increase in projected revenues from UGL's established and recently acquired accounts, is expected to result in greater profitability for the UGL segment in fiscal 2017. With $38 million in firm contracts and options on hand as at the end of fiscal 2016 and the award of a further $18 million contract announced last month, the Peerless segment is also expecting an increase in revenues and improved profitability in fiscal 2017.