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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Information Services Corporation | TSX:ISV | Toronto | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.04 | 0.16% | 25.64 | 24.33 | 26.00 | 25.73 | 25.60 | 25.73 | 1,720 | 22:00:00 |
REGINA, Nov. 12, 2014 /CNW/ - Information Services Corporation (TSX:ISV) ("ISC" or "the Company"), Saskatchewan's exclusive provider of key registry information services, today reported on the Company's financial results for the third quarter ended September 30, 2014.
Highlights of ISC's Q3 2014 financial results
Management's Discussion of ISC's Summary Quarterly Financial Results
(Thousands of CAD dollars, except earnings per share and where noted) |
Three months ended September 30, | |
2014 |
2013 | |
Revenue |
||
Land Titles Registry, Land Surveys Directory and Geomatics |
$ 16,608 |
$ 16,286 |
Personal Property Registry |
2,742 |
2,614 |
Corporate Registry |
1,927 |
1,924 |
Other |
1 |
8 |
Total Revenue1 |
$ 21,278 |
$ 20,832 |
Operating, general and administrative expenses |
11,613 |
11,268 |
EBITDA2 |
9,665 |
9,504 |
EBITDA Margin2 (% of revenue) |
45.4% |
45.6% |
Adjusted EBITDA2 |
$ 9,665 |
$ 9,564 |
Adjusted EBITDA Margin2 |
45.4% |
45.9% |
Net Income and total comprehensive income |
6,239 |
6,015 |
Earnings per share, basic and diluted3 |
0.36 |
0.35 |
Earnings per share excluding income tax expense and discontinued operations, basic and diluted3 |
0.48 |
0.48 |
Free cash flow2 |
$ 7,622 |
$ 9,091 |
1. |
Revenue does not include the Vital Statistics Registry, which is reflected as a discontinued operation. |
2. |
EBITDA, EBITDA Margin, Adjusted EBITDA, Adjusted EBITDA Margin and Free cash flow are not recognized as a measure under IFRS and do not have a standardized meaning prescribed by IFRS. See "Non-IFRS Measures" in Management's Discussion & Analysis for the third quarter ended September 30, 2014. |
3. |
The calculation of earnings per share is based on net income after tax and the weighted average number of shares outstanding during the period. |
Note to Readers:
This news release provides a general summary of Information Services Corporation's results for the third quarters ended September 30, 2013 and 2014. Readers are encouraged to download the Company's complete financial disclosures. Links to ISC's financial statements and related notes and Management's Discussion and Analysis for the period are available on ISC's website in the Investor section of the site at http://isc.investorroom.com/index.php?s=63. All figures are in Canadian dollars unless otherwise noted.
Copies can also be obtained at www.sedar.com by searching Information Services Corporation's profile or by contacting Information Services Corporation at investor.relations@isc.ca
Conference Call And Webcast
The Company is hosting a conference call and webcast at 10:00 a.m. Saskatchewan Time; 11:00 a.m. Eastern Time on November 13, 2014 to discuss these results. Dial-in numbers for the conference call are:
1-416-764-8688 or toll-free at 1-888-390-0546.
A live audiocast of the conference call is available at the following link:
http://www.newswire.ca/en/webcast/detail/1425078/1583048
About ISC
ISC is a provider of registry and information services to the Province of Saskatchewan. The Company is the exclusive provider of the Land Titles Registry, Land Surveys Directory, Personal Property Registry and Corporate Registry in Saskatchewan, which are key supporters of economic activity in the province.
Cautionary Note Regarding Forward-Looking Information
This news release contains forward-looking information within the meaning of applicable Canadian securities legislation, including certain assumptions with respect to the Saskatchewan economy, consumer confidence, interest rates, level of unemployment, inflation, real estate market in Saskatchewan, claim liabilities, income taxes, our ability to attract and retain skilled staff, employee future benefits, goodwill and intangibles are material factors in preparing forward-looking statements and management's expectations. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information. Although ISC believes the forward-looking information contained in this release is based upon reasonable assumptions, readers are cautioned not to place undue reliance on forward-looking information as it is inherently uncertain and no assurance can be given that the expectations reflected in such information will prove to be correct. Many factors and risks could cause our actual results to differ materially from those expressed or implied by forward-looking information including those detailed in ISC's Annual Information Form, dated March 19, 2014, ISC's unaudited condensed Consolidated Financial Statements and Notes and Management's Discussion and Analysis for the quarter ended September 30, 2014 as well as other documents filed by ISC with Canadian securities regulators through SEDAR (www.sedar.com) from time to time. Investors and others should carefully consider the above-noted factors and risks and other uncertainties and potential events. The forward-looking information in this release is made as of the date hereof and, except as required under applicable securities legislation, ISC assumes no obligation to update or revise such information to reflect new events or circumstances.
SOURCE Information Services Corporation
Copyright 2014 Canada NewsWire
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