Raymond made the comment during the webcast for earnings for the fourth quarter ended March 31. With business in the United States and Europe still down because of COVID-19, the company nevertheless cut its losses and increased revenue by 3.1 percent over 2020. Alithya lost $17.3 million for 2021, compared to a loss of slightly more than $40,000 the prior year. However, 2020 results were impacted by an impairment charge of $28 million. Revenue rose to $287.6 million for the most recently ended year, up from $279 million in 2020. Business improved in the fourth quarter with the company reporting revenue of $78 million, an increase of 6.5 percent from $73.2 million for last year’s corresponding period. For the most recently period, U.S. revenue dropped to. $29.7 million, down 5.8 percent from $31.5 million a year ago. However, that stemmed primarily from currency changes between the Canadian and U.S. dollars. CFO Claude Thibault noted the company has had $1.9 million of the funds received through the U.S. Paycheck Protection Program forgiven and believes forgiveness of the other $6 million is likely. Acquisitions had limited impact in the fourth quarter with $1.2 million coming from the former Askida. Alithya, however, expects a substantial impact from the purchased operations in the future. Raymond said R3D, which was acquired in Apri,l added 600 new professionals to the employee base bringing total to more than 3000 billable professionals.
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ALITHYA’S U.S. OPS RECOVERING Featured
Operations in the United States have not returned to pre-pandemic levels, the Dynamics reseller, Alithya, said this week. Paul Raymond, CEO of the Montreal, Que.-based business, noted they are recovering and revenue in this country had increased sequentially over the third quarter ended September 30