Geac Awakens On Its Deathbed - Part 1: Event Summary
P.J. Jakovljevic - October 16, 2001

Event Summary

On September 5, Geac Computer Corporation Limited (TSE: GAC), a struggling Canadian supplier of enterprise management software, announced that net income from continuing operations of Can$17.2 million in Q1 2002, compared to a net loss from continuing operations of Can$43.2 million during the first quarter of the previous year. The results are attributable to various initiatives to restore profitability undertaken since last October, including restructuring, divestitures and facility rationalization. Earnings before interest, taxes, depreciation and amortization (EBITDA), and discontinued operations rose nearly five-fold to Can$33.8 million, from Can$5.8 million in Q1 2001...