TORONTO, ONTARIO (May 2, 2012) — Constellation Software Inc. (TSX:CSU) (“Constellation” or the “Company”) today announced its financial results for the first quarter ended March 31, 2012 and declared a $1.00 per share dividend payable on July 4, 2012 to all common shareholders of record at close of business on June 18, 2012. This dividend has been designated as an eligible dividend for the purposes of the Income Tax Act (Canada). Please note that all dollar amounts referred to in this press release are in U.S. Dollars unless otherwise stated.
The following press release should be read in conjunction with the Company’s Unaudited Condensed Consolidated Interim Financial Statements for the three months ended March 31, 2012 and the accompanying notes, and with our annual Consolidated Financial Statements, prepared in accordance with International Financial Reporting Standards (“IFRS”) and our annual Management’s Discussion and Analysis for the year ended December 31, 2011, which can be found on SEDAR at www.sedar.com and on the Company’s website www.csisoftware.com. Additional information about the Company is also available on SEDAR at www.sedar.com.
Q1 2012 Highlights
- Revenue grew 10% to $195 million compared to $178 million in Q1 2011. Organic revenue growth was 3% in Q1 2012 compared to 5% in Q1 2011.
- Adjusted EBITDA increased $4 million or 12% to $39 million as compared to Q1 2011.
- Adjusted Net Income increased $5 million or 17% to $32 million ($1.50 on a diluted per share basis) from $27 million ($1.28 on a diluted per share basis) in Q1 2012.
- March 31, 2012 cash position (net of borrowings on our line of credit) increased to $38 million, from $33 million at December 31, 2011.
- The Company’s $160 million credit facility was replaced with a $300 million credit facility on more favorable terms.
- Four acquisitions were completed in the quarter for net cash consideration of $8 million.
- Subsequent to March 31, 2012, the Company completed four acquisitions for aggregate cash consideration of $12 million plus holdbacks of $3 million and declared a quarterly dividend of $1.00 per share payable on July 4, 2012 to all shareholders of record as of June 18, 2012.