“Most projects that had been delayed have been resumed,” Raymond said. That was despite a more serious impact in Europe, where revenue for the Canadian Dynamics reseller fell to $2 million for the most recently ended quarter, a drop of 38.3 percent from $3.3 million a year earlier. In its official statement, Alithya said the response “cut spending at “a few of the Company's largest Canadian clients” compared to a year ago.” However, results were buoyed by a serious of acquisitions in fiscal 2020—the purchases of Matricis Informatique, Travercent, and Askida. The result was the loss nearly tripled to $4.5 million for the most recently ended quarter, compared to a loss of $1.5 million a year earlier. Revenue for the first quarter of $70.7 million was 2 percent lower than the $72.1 million in last year’s corresponding period.
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ALITHYA RESULTS BETTER THAN EXPECTED Featured
The impact of the COVID-19 pandemic was not bad as first expected, Alithya said this week. Results for the first quarter ended June 30 were better than expected, CEO Paul Raymond said during this week’s conference call.
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