Alithya reported a sharp increase in its loss and revenue as it issued its first annual report including the results of the former Edgewater Technology. CEO Paul Raymond said the United States results—the Fullscope reselling business and the Ranzal Oracle business—had exceeded expectations.

The company had expected Microsoft software reselling would counter a decline in the Oracle EPM operations but instead there had been growth in both areas and in Oracle EPM operatins and Oracle Cloud in Canada. The Oracle Cloud business is just getting under way in the U.S.. He noted with the Edgewater business largely integrated Alithya is looking for more targets. “We will be making acquisitions,” he said. “I think the team is ready.” The Canadian company reported a loss of about $9.4 million for the year ended March, up 72.7 percent from the red ink for fiscal 2018. Revenue for the most recently completed year was roughly $158.5 million, an increase of 31.1 percent over the prior year. Results included about $37.8 million of Edgewater revenue from November 1. Proforma revenue, including a full year of Edgewater results, was about $213.6 million. Alithya repeated its previous goal of reaching a pro form run rate of approximately  $227.4 million to  $242.5 million by the third quarter of this fiscal year. Among factors cutting the bottom line was a 179 percent increase of SG&A expenses to roughly $4.4 million which included added expense from the U.S. operations and the cost of Alithya going pubic.  

Last modified on Friday, 21 June 2019
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