Constellation Software says Q3 profit fell 12% to US$107M despite higher revenues
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Hey there, time traveller!
This article was published 04/11/2021 (1777 days ago), so information in it may no longer be current.
TORONTO – Constellation Software Inc. is reporting that its net income attributable to shareholders fell to US$107 million in its latest quarter despite a 30 per cent growth in revenue.
The Toronto-based technology firm, which reports in U.S. dollars, says the profit equalled US$5.07 per diluted share, compared with US$5.76 per share or US$122 million a year earlier.
Revenue for the three months ended Sept. 30 was US$1.3 billion, up from US$1 billion in the third quarter of 2020.
Cash flows from operations increased 25 per cent to US$292 million, while free cash flow available to shareholders increased to US$226 million from US$181 million a year ago.
John Billowits, a former CEO of Constellation’s Vela operating group and a current director, has been appointed chairman to replace Mark Leonard, who will remain president.
Constellation, which acquires, manages and builds vertical market software businesses, says it would pay a dividend of US$1 per share on Jan. 11 to all shareholders as of Dec. 20.
This report by The Canadian Press was first published Nov. 4, 2021.
Companies in this story: (TSX:CSU)