Business
Information Services Corporation Posts Strong Q2 Results
REGINA, Aug. 12, 2013 /CNW/ - Information Services Corporation (TSX:ISV) ("ISC" or "the C...
About this update from Information Services Corp. Class A
[{"type":"text","content":"\n\n\nREGINA, Aug. 12, 2013 /CNW/ - Information Services Corporation (TSX:ISV)\n (\"ISC\" or \"the Company\") today announced solid financial results for\n the second quarter and six-months ending June 30, 2013.  This is ISC's\n first reporting period since the Company closed its initial public\n offering on July 9, 2013.  Highlights of ISC's financial results for\n both fiscal periods include:\n\n\nSecond Quarter ended June 30, 2013\n\n\nRevenues for the quarter were $21.7 million comparable to the same\n period last year when the Company generated $21.8 million;\n\nEBITDA (earnings before interest, taxes, depreciation and amortization)\n for the second quarter of 2013 was $8.1 million compared to $9.6\n million for the second quarter of 2012; and,\n\nAdjusted EBITDA1 grew to $10.8 million compared to $10.1 million earned in the second\n quarter last year.\n\n\nSix Months ended June 30, 2013\n\n\nRevenues increased to $39.3 million compared to $39.0 million in the\n first six months of 2012;\n\n\nEBITDA for the first 6 months of 2013 was $12.7 million compared to\n $14.1 million generated in the same period a year ago; and\n\nAdjusted EBITDA1 rose to $16.3 million, a 10.1% increase compared to the $14.8 million\n generated in the first 6 months of 2012.\n\n\n\"I am pleased with our financial results, particularly in light of the\n significant effort required by so many ISC employees over the past six\n months to execute the privatization of our Company and the subsequent\n initial public offering on July 9, 2013,\" President and Chief Executive\n Officer, Jeff Stusek said.  \"This has been a very dynamic period for\n our Company.  We have successfully transferred Vital Statistics back to\n government, negotiated a 20-year exclusive Master Service Agreement\n with the Province of Saskatchewan and successfully completed our\n transition to becoming a publicly traded company.  At the same time, we\n remained focused on our operations delivering solid financial results\n and high levels of customer service.\"\n\n\n\n\n\n1 Adjusted EBITDA is defined as EBITDA before fees related to the\n Offering and including costs associated with being a public company,\n costs associated with administering the Master Service Agreement and\n normalization adjustments relating to the transfer of the Province's\n Vital ...