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Saxon Financial reports record results in third quarter
Saxon Financial reports record results in third quarter.
About this update from Solution Financial Inc.
[{"type":"text","content":"\n\n\n\n\nQ3 Revenue up 24%, earnings up 32 % over Q3 2005;\nAssets under management increase 14% over Q3 2005\n\nTORONTO, Nov. 6 /CNW/ - Saxon Financial Inc. (TSX:SFI) today reported\nrecord financial results for the third quarter ended September 30, 2006. The\ncompany continued its strong performance with 24% growth in revenue and a 32%\nincrease in earnings over Q3 2005. Saxon Financial's assets under management\ngrew 14% over the 12 months ended September 30, reaching a record $11.9\nbillion.\n\"Saxon has achieved impressive results this year thanks to double-digit\nrevenue growth in all three lines of business and disciplined financial\nmanagement.,\" said Allan Smith, President and CEO of Saxon Financial. \"Saxon\nis well-positioned to continue to deliver client and shareholder value by\ncapitalizing on our strengths: consistent long-term investment performance, a\nfocused product offering and fair pricing.\"\n\nHighlights: A quarter of double-digit growth\n\n>\n\n(x)Net income for the nine-month period ended September 30, 2005 includes a\none-time expense of $755 related to employee stock awards issued in connection\nwith the IPO. If comparative figures were adjusted to exclude this item,\nEBITDA increases from $13,087 to $13,842; net income increases from $7,862 to\n$8,617; EPS increase from $0.61 to $0.67.\n\n(xx)The amount of earnings before interest, taxes, depreciation and\namortization (\"EBITDA\") is a non-GAAP measure used by management, investors\nand analysts to evaluate and analyze the Company's results. EBITDA does not\nhave a standardized meaning and may not be comparable to similar measures\npresented by other companies. EBITDA is defined as earnings before investment\nand other income, interest expense, income taxes, depreciation, amortization\nand non-controlling interest.\n\n>\n\nFor detailed financial statements, including management's discussion and\nanalysis, please refer to Saxon's website at www.saxonfinancial.ca.\n\nConference call\nSaxon will host a conference call to discuss these results on Monday\nNovember 6, 2006, at 11:00 am EST. Please dial 416-695-6120, or toll-free\n1-877-461-2816.\n\nAbout Saxon Financial Inc. (www.saxonfinancial.ca)\nSaxon Financial Inc. is one of Canada's most respected value-style\ninvestment management firms. The company has three principal lines of\nbusiness: Saxon Fu...