Business
Saxon Financial reports excellent growth in third quarter
Saxon Financial reports excellent growth in third quarter.
About this update from Solution Financial Inc.
[{"type":"text","content":"\n\n\n\n\nRevenue up 38%, earnings up 26% over Q3 2004 \nAssets under management climb 20% to almost $10.5 billion over Q3 2004\n\nTORONTO, Nov. 10 /CNW/ - Saxon Financial Inc. (TSX:SFI), the investment\nmanagement firm that operates Saxon Mutual Funds, today released its financial\nresults for the third quarter and nine months ended September 30, 2005. With\n38% growth in revenue and 26% growth in earnings compared with the third\nquarter in 2004, Saxon continued its long tradition of excellent financial\nperformance in its first three months as a public company.\n\"Saxon's record revenue and earnings this quarter show that we are\nsticking to our plan, and delivering stability, consistent growth and long-\nterm performance for our clients and our shareholders,\" said Allan Smith,\nSaxon's President and CEO.\n\nHighlights: New records in revenue, earnings\n\nThe third quarter was the first operating quarter for Saxon Financial as\na public company since its July 7 listing on the Toronto Stock Exchange. The\nnine months ended September 30 include unique events from the second quarter\nduring Saxon's final days as a private company. Saxon incented its employees\nby issuing them shares in the company worth approximately $0.8 million, which\nwas fully charged against earnings in June 2005.\nThe following table summarizes Saxon's third-quarter and year-to-date\nresults, with additional lines for EBITDA, net income and earnings per diluted\nshare that have been adjusted to exclude the June 2005 special charge.\n\n>\n\n\n","length":7015,"tagName":"div"}]