Alithya Group (TSX:ALYA,NASDAQ:ALYA) reported a year-over-year revenue increase of 13.9 percent to C$66.2 million its results for the third quarter of fiscal 2020 ended December 31, 2019.
As quoted in the press release:
“Our third quarter revenues reflect the solid contribution from acquisitions partially offset by reduced spending at a few large Canadian customers, the Oracle legacy products and services, and to a lesser extent, the sale of our UK activities. In Canada, the Company has mitigated some of the decline through growth with new and existing clients, supported by the increase of its higher value-added services and the commercial benefits from its larger scale. Our US revenues increased 57% year-over-year, as we build a strong platform which will be further reinforced by the recent acquisition of US-based cloud-focused ERP consulting group Travercent,” stated Paul Raymond, President and CEO of Alithya.
“Our adjusted EBITDA more than doubled from last year as we continue to benefit from our acquisitions and operational synergies”.