(March 16 – 10:30 ET) – An analysis by Canada NewsWire reveals that 46% of Canadian public companies in the technology sector reported cash flow figures, in addition to traditional earnings information, when releasing fourth quarter financials.

The analysis by CNW’s corporate earnings division follows a recent announcement by the Ontario Securities Commission that suggested Canadian technology companies are not adequately reporting revenue and need to improve the nature and extent of disclosure in financial statements.

The OSC also noted in its review that issuers, who have not done so already, should start to consider providing information regarding revenue in news releases pending the release of the issuers’ next financial statements.

The OSC stated that investors view revenue and revenue growth as key indicators of value and performance for companies in the technology sector. Earnings are no longer the only key measure of performance. Retail and institutional investors weigh revenue as an important measurement in the decision making process because of its effect on reported earnings.

“The OSC report does not reveal any new or startling facts,” said Brian Piccioni, analyst at BMO/Nesbitt Burns. “The level of disclosure by Canadian technology companies, for the most part, is more acute than that of U.S. tech companies. Disclosure is a right of all shareholders in Canada and all shareholders should know as much as possible about the origin and growth of revenue — tech companies included.”