The loss declined to slightly more than $2 million in the most recently ended quarter from $4.5 million a year ago. Revenue increased to $102.9 million from $70.7 million in last year’s corresponding period. But growth came in all area of the company’s Canadian operations “Even if you remove the R3D acquisition, we're showing double-digit growth in Canada,” CEO Paul Raymond said during the week’s earnings webcast. Growth in the United States was also significant, but revenue was slashed by currency changes. Revenue in this country grew 3.7 percent to $31.4 million year-over-year with organic growth in most areas, particularly in the Oracle business. U.S. revenue rose 17.1 percent in constant currency. Raymond noted Alithya’s plans to increase R3D's revenue from permanent employees, relative to subcontractor revenues. He also noted the growth of the Oracle healthcare practice in the U.S. since the December 2019 acquisition of Travercent. COO Claude Rousseau outlined the growth of Alithya’s office in Tangier, Morocco, announced in the first week of August. Rousseau said Alithya has hired 50 consultants in the North African country and expects to have more than 100 there by the end of the year.
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ACQUIRED UNIT BOOSTS ALITHYA Featured
The acquisition of R3D Conseill boosted revenue for Dynamics and Oracle reseller Alithya significantly for the first quarter ended June 30. Coupled with organic growth, R3D helped Alithya achieve a 54.9-percent decline in the company’s loss on a 45.6-percent increase in revenue.
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