However, revenue jumped 81.6 percent from a year ago to approximately $50.4 million for the most recently reported quarter. Alithya says the acquisition accounted for $30.3 million of the increased revenue while the pre-deal Alithya had a revenue decline of about $440,000. SG&A expenses increased to roughly $13.9 million, a rise of 113.7 percent from a year earlier with Edgewater comprising about $6.5 million of the increased expense in that category. In a prepared statement, CEO Paul Raymond said the figures “demonstrate that our strategy to evolve our service offerings towards higher added value services is showing concrete results.” During the quarter, Alithya acquired Matricis Informatique, a consulting firm that specialized in advanced applications and systems using techniques derived from the Internet of Things and Artificial Intelligence. The purchase price was about $5.3 million in cash and shares. The former Edwater sold Dynamics products through ts Fullscope subisidary and Oracle applications through its Ranzal operations.Last modified on Friday, 15 November 2019
EDGEWATER BUY SPURS ALITHYA Featured
Results for Alithya for the second quarter ended September 30 reflected the company’s acquisition of Edgewater last year. The Montreal, Que.-based reseller’s loss widened to roughly $1.7 million, up 9.8 percent for last year’s corresponding period.