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CALGARY, ALBERTA -- (Marketwire) -- 02/12/13 -- Computer Modelling Group Ltd. (TSX: CMG) ("CMG" or the "Company") is very pleased to report our third quarter results for the three and nine months ended December 31, 2012.
THIRD QUARTER HIGHLIGHTSFor the three months endedDecember 31, 2012 2011 $ change % change($ thousands, except per share data)----------------------------------------------------------------------------Annuity/maintenance software licenses 14,004 12,056 1,948 16%Perpetual software licenses 1,365 2,321 (956) -41%Total revenue 16,802 15,898 904 6%Operating profit 8,276 8,093 183 2%Net income 6,119 5,790 329 6%Earnings per share - basic 0.16 0.16 - 0%----------------------------------------------------------------------------For the nine months endedDecember 31, 2012 2011 $ change % change($ thousands, except per share data)----------------------------------------------------------------------------Annuity/maintenance software licenses 39,196 30,361 8,835 29%Perpetual software licenses 6,106 9,308 (3,202) -34%Total revenue 49,341 43,819 5,522 13%Operating profit 24,413 22,411 2,002 9%Net income 17,569 16,771 798 5%Earnings per share - basic 0.47 0.46 0.01 2%----------------------------------------------------------------------------
MANAGEMENT'S DISCUSSION AND ANALYSIS
This Management's Discussion and Analysis ("MD&A") for Computer Modelling Group Ltd. ("CMG," the "Company," "we" or "our"), presented as at February 11, 2013, should be read in conjunction with the unaudited condensed consolidated financial statements and related notes of the Company for the three and nine months ended December 31, 2012 and the audited consolidated financial statements and MD&A for the years ended March 31, 2012 and 2011 contained in the 2012 Annual Report for CMG. Additional information relating to CMG, including our Annual Information Form, can be found at www.sedar.com. The financial data contained herein have been prepared in accordance with International Financial Reporting Standards ("IFRS") and, unless otherwise indicated, all amounts in this report are expressed in Canadian dollars and rounded to the nearest thousand.
FORWARD-LOOKING INFORMATION
Certain information included in this MD&A is forward-looking. Forward-looking information includes statements that are not statements of historical fact and which address activities, events or developments that the Company expects or anticipates will or may occur in the future, including such things as investment objectives and strategy, the development plans and status of the Company's software development projects, the Company's intentions, results of operations, levels of activity, future capital and other expenditures (including the amount, nature and sources of funding thereof), business prospects and opportunities, research and development timetable, and future growth and performance. When used in this MD&A, statements to the effect that the Company or its management "believes", "expects", "expected", "plans", "may", "will", "projects", "anticipates", "estimates", "would", "could", "should", "endeavours", "seeks", "predicts" or "intends" or similar statements, including "potential", "opportunity", "target" or other variations thereof that are not statements of historical fact should be construed as forward-looking information. These statements reflect management's current beliefs with respect to future events and are based on information currently available to management of the Company. The Company believes that the expectations reflected in such forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon.
