Enghouse Releases Second Quarter Results

Enghouse Systems Limited (TSX: ENGH) today announced its second quarter unaudited financial results for the period ended April 30, 2021. All the financial information is in Canadian dollars unless otherwise indicated.

Financial and operational highlights for the three and six months ended April 30, 2021 compared to the three and six months ended April 30, 2020 are as follows:

Revenue achieved was $117.3 and $236.4 million, respectively, compared to record revenue of $140.9 and $251.6 million;

Although revenue achieved for the quarter was $117.3 million, compared to record revenue of $140.9 million in the same period in the prior year, Enghouse continues to generate positive cash flows, operating income and profitability. The decline in revenue was driven primarily by the previous year’s significant increase in our Vidyo business that has now returned to levels that are more consistent with pre-COVID volumes. Enghouse continues to expand its cloud offerings and has implemented new initiatives aimed at increasing sales of cloud-based products while offering choice to its customers by providing multi-tenant cloud, private cloud and on-premise solutions to the market.