Unisync Corp. Reports Consolidated Earnings Results for the Fourth Quarter and Full Year Ended September 30, 2016; Provides Earnings Guidance for the Fiscal 2017
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.