Mr. Pramod Jain reports

COMPUTER MODELLING GROUP ANNOUNCES FIRST QUARTER RESULTS

Computer Modelling Group Ltd. has released its financial results for the three months ended June 30, 2023.

Commentary on quarterly performance

For the three months ended June 30, 2023, and compared with the same period of the previous fiscal year:

• Annuity/maintenance licence revenue increased by 15 per cent;
• Total revenue increased by 29 per cent;
• Total operating expenses decreased by 3 per cent; adjusted for restructuring charges in the comparative quarter, operating expenses increased by 17 per cent, primarily due to an increase in variable direct employee costs, higher professional services, and travel-related, office-related and marketing corporate costs;
• Operating profit margin was 47 per cent, up from 31 per cent in the comparative quarter; adjusted for restructuring charges in the comparative quarter, operating profit margin was 47 per cent, compared with 41 per cent;
• Basic earnings per share of nine cents were higher than the comparative quarter's EPS of five cents;
• Achieved free cash flow per share of nine cents;
• Declared and paid a dividend of five cents per share.

About Computer Modelling Group Ltd.

Computer Modelling (Toronto Stock Exchange: CMG) is a global software and consulting company that combines science and technology with deep industry expertise to solve complex subsurface and surface challenges for the new energy industry around the world. Computer Modelling is headquartered in Calgary, Alta., with offices in Houston, London, Dubai, Bogota, Rio de Janeiro, Bengaluru and Kuala Lumpur.

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