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TIMIA Capital Announces Year End and Fourth Quarter Financial Results
TIMIA Capital Announces Year End and Fourth Quarter Financial Results Canada Ne...
About this update from Montfort Capital Corp
[{"type":"text","content":"\n \n \n \n TIMIA Capital Announces Year End and Fourth Quarter Financial Results\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n ~TIMIA's acquisition and related market expansion helps drive record revenue and net income~\n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n April 20, 2022\n \n \n /CNW/ - TIMIA Capital Corporation (\"TIMIA\" or the \"Company\") (TSXV: TCA) (OTC: TIMCF) today announced financial results for the fourth quarter and year ended\n \n December 31, 2021\n \n . In\n \n September 2021\n \n the Company acquired Pivot Financial (\"Pivot\"), a Canadian-based private lender focused on creative financing solutions for the small and medium business market.\n \n \n \n Fourth Quarter 2021\n \n \n \n For the four months ended\n \n December 31, 2021\n \n , compared to the three months ended\n \n November 30, 2020\n \n , the Company had the following highlights:\n \n \n \n Record revenue of\n \n $5.1 million\n \n , an increase of 190% or\n \n $3.3 million\n \n compared to the three months ended\n \n November 30, 2020\n \n ,\n \n \n Interest income from investments of\n \n $4.0 million\n \n , an increase of 300% or\n \n $3.0 million\n \n , compared to the three months ended\n \n November 30, 2020\n \n . This increase reflects the acquisition of Pivot,\n \n \n Record net income of\n \n $1.4 million\n \n , an increase of 119%, or\n \n $0.8 million\n \n , compared to the prior year period. Net income, excluding one-time acquisition costs, was\n \n $1.6 million\n \n ,\n \n \n Income from transaction and other fees increased from\n \n $0.1 million\n \n to\n \n $0.5 million\n \n , reflecting the acquisition of Pivot.\n \n \n \n \n Fiscal Year 2021\n \n \n \n For the thirteen months ended\n \n December 31, 2021\n \n , compared to the twelve months ended\n \n November 30, 2020\n \n , the Company had the following highlights:\n \n \n \n Record revenue of\n \n $9.7 million\n \n , an increase of 60% or\n \n $3.6 million\n \n , compared to the twelve months ended\n \n November 30, 2020\n \n ,\n \n ...