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CMG COMPUTER MODELLING GROUP LTD . 3710 33rd Street NW Tel : +1.403.531.1300 cmgl@cmgl.ca Calgary , AB , T2L 2M1 Canada Fax : +1.403.289.8502 www.cmgl.ca COMPUTER MODELLING GROUP ANNOUNCES SECOND QUARTER RESULTS CALGARY , Alberta , November 10 , 2021 ( GlobeNewswire ) - Computer Modelling Group Ltd. ( " CMG " or the " Company " ) announces its financial results for the three and six months ended September 30 , 2021 . Quarterly Performance $ thousands , unless otherwise stated ) Annuity / maintenance license revenue Fiscal 2020 Q3 Q4 Q1 Fiscal 2021 Q2 Q3 Q4 16,612 Perpetual license revenue 964 Software license revenue 17,576 Professional services Total revenue 14,523 1,699 1,879 2,149 19,275 18,515 16,672 15,233 1,403 16,636 14,523 14,144 13,477 1,775 660 15,919 14,137 1,933 17,852 Operating profit 7,538 7,802 5,711 9,861 13,790 1,184 14,974 1,901 1,827 16,038 8,437 Fiscal 2022 Q1 12,286 Q2 13,239 125 846 12,411 2,003 1,864 16,801 14,414 15,949 14,085 6,556 5,573 5,440 Operating profit ( % ) 39 42 34 55 53 39 39 34 Profit before income and other taxes 7,054 9,613 4,405 9,360 7,410 5,747 4,827 5,321 Income and other taxes 1,942 2,550 1,143 2,600 1,535 1,454 1,094 1,175 Net income for the period 5,112 EBITDA ( 1 ) Cash dividends declared and paid Funds flow from operations Free cash flow ( 1 ) 7,063 3,262 6,760 8,644 8,923 6,767 10,933 8,025 8,024 4,013 4,013 4,015 4,014 4,015 7,366 7,515 4,703 7,991 7,322 6,267 4,811 6,726 6,840 4,239 7,474 7,005 5,755 4,478 5,875 4,293 3,733 4,146 9,509 7,627 6,596 6,473 4,016 4,904 4,494 Per share amounts - ( $ / share ) Earnings per share ( EPS ) - basic and diluted 0.06 0.09 0.04 0.08 0.07 0.05 0.05 0.05 Cash dividends declared and paid 0.10 0.10 0.05 0.05 0.05 0.05 0.05 0.05 Funds flow from operations per share - basic 0.09 0.09 0.06 0.10 0.09 0.08 0.06 0.06 Free cash flow per share - basic ( 1 ) 0.08 0.09 0.05 0.09 0.09 0.07 0.06 0.06 ( 1 ) Non - IFRS financial measures are defined in the " Non - IFRS Financial Measures " section . Commentary on Quarterly Performance • • • For the Three Months Ended For the Six Months Ended September 30 , 2021 and compared to the same period of the previous fiscal year , when appropriate : Annuity / maintenance license revenue decreased by 6 % ; Total revenue decreased by 11 % ; CMG signed a multi - year agreement for CoFlow annuity licensing , the largest agreement for CoFlow commercial use to date ; Total operating expenses increased by 32 % . Adjusted for a one - time restructuring charge in the current quarter and a CEWS benefit included in the prior year quarter , operating expenses decreased by 6 % , mainly due to lower stock - based compensation expense as a result of the share price decrease during the current quarter ; • Quarterly operating profit margin was 34 % , down from the comparative quarter's figure of 55 % . Adjusted for the one- • • Annuity / maintenance license revenue decreased by 11 % ; Total revenue decreased by 12 % ; • • Total operating expenses increased by 2 % . Adjusted for the one - time restructuring charge and CEWS / CERS benefits , operating expenses decreased by 12 % , due to lower stock - based compensation expense , salary reductions and lower headcount ; Year - to - date operating profit margin was 36 % , down from the comparative period's figure of 45 % . Adjusted for the