Edgewater’s operations included the Fullscope Dynamics reselling business and the Ranzal Oracle unit. “We assumed Microsoft would be growing and Oracle would be shrinking,” Raymond said. But instead, he found, “We are ahead on both counts.” Alithya will continue to seek cost savings in the United States in the former Edgewater’s administration. Financial results were a story of the addition of Edgewater, producing large percentage changes in most lines of the profit-and-loss statement. Alithya lost about $1.17 million for the most recently ended quarter, down 62.3 percent from a year ago. Revenue for the first quarter was roughly $54.4 million, an increase of 73.7 percent from last year’s corresponding period. SG&A expenses rose 134.7 percent to approximately $14.3 million. Raymond also said he has seen no sign of an economic slowdown in Alithya’s business. With Edgewater tucked in, Alithya is on the look out for more M&A opportunities.Last modified on Friday, 16 August 2019
ALITHYA: U.S. BIZ GOING WELL Featured
Alithya, which acquired Edgewater Technology last year, said the integration of the purchased company is ahead of schedule. Paul Raymond, CEO of the Montreal, Que.-based company, made the comments in this week’s earnings webcast for the first quarter ended June 30.