Business
Solium Releases 2013 Second Quarter Financial Results
Revenue increased by 31% Adjusted EBITDA increased by 10% Cash position strong...
About this update from Summit Royalties Ltd
[{"type":"text","content":"\n\n\n\nRevenue increased by 31%\n\n\nAdjusted EBITDA increased by 10%\n\n\nCash position strong at $17.3 million\n\n\n\nCALGARY, Aug. 7, 2013 /CNW/ - Solium Capital Inc. (\"Solium\" or the\n \"Company\"), the leading provider of software as a service for global\n equity-based incentive plans administration, financial reporting and\n compliance, today announced its financial results for the second\n quarter and six month period ended June 30, 2013.\n\n\nFinancial and operating highlights for the three and six month periods\n ended June 30, 2013:\n\n\n\nRevenue increased by 31% to $15.6 million in the second quarter of 2013\n and by 38% to $33.8 million for the six month period ended June 30,\n 2013;\n\n\n\n\nAdjusted EBITDA2 increased by 10% to $2.9 million in the second quarter of 2013 and by\n 22% to $8.4 million in the six month period ended June 30, 2013;\n\n\n\n\nNet earnings1,3 increased by 172% to $1.3 million in the second quarter of 2013 and by\n 63% to $4.0 million in the six month period ended June 30, 2013 (when\n excluding the impact of the Computershare liability extinguishment in\n the second quarter and six month period results for 2012);\n\n\n\n\nCash on hand as at June 30, 2013 was $17.3 million with no significant\n debt on the balance sheet except for the contingent liability of $2.8\n million due to Computershare; and\n\n\n\n\nAnnounced the appointment of Jim Wulforst as President of Solium U.S.A. \n Mr. Wulforst brings over 25 years of financial services experience,\n including an eleven year tenure with Fidelity Investments, with seven\n years as Senior Vice President of Fidelity's stock plan services. Mr.\n Wulforst joins Solium from E*TRADE Financial Corporate Services Inc.,\n where he was President for six years.\n\n\n\nKey factors affecting financial results in the three and six month\n periods ended June 30, 2013:\n\n\nAcquisitions - CapMX, OptionEase, and Corporate Focus were each acquired in 2012\n subsequent to the first quarter of 2012 and the RSSOne business was\n acquired in the second quarter of 2013. Revenue, expenses and a loss\n from operations were recorded from these acquired businesses in the\n three and six month periods ended June 30, 2013 compared to one month\n of revenue and expenses recorded from the CapMX business acquired in\n the second quarter of 2012.\n\n\nTrading activity...