Business
Solium Releases 2013 Third Quarter Financial Results
Revenue increased by 37% Adjusted EBITDA increased by 85% Cash position strong...
About this update from Summit Royalties Ltd
[{"type":"text","content":"\n\n\n\nRevenue increased by 37%\n\n\nAdjusted EBITDA increased by 85%\n\n\nCash position strong at $20.6 million\n\n\n\nCALGARY, Nov. 5, 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 three and\n nine month periods ended September 30, 2013.\n\n\nFinancial and operating highlights for the three and nine month periods\n ended September 30, 2013:\n\n\n\nRevenue increased by 37% to $16.9 million in the third quarter of 2013\n and by 37% to $50.7 million in the nine month period ended September\n 30, 2013;\n\n\n\n\nAdjusted EBITDA2 increased by 85% to $4.6 million in the third quarter of 2013 and by\n 39% to $12.9 million in the nine month period ended September 30, 2013;\n\n\n\n\nNet earnings1,3 increased by 407% to $2.2 million in the third quarter of 2013 and by\n 114% to $6.2 million in the nine month period ended September 30, 2013\n (when excluding the impact of the Computershare liability\n extinguishment in the nine month period results for 2012); and\n\n\n\n\nCash on hand as at September 30, 2013 was $20.6 million with no\n significant debt on the balance sheet except for the contingent\n liability of $2.8 million due to Computershare.\n\n\n\n\n\nKey factors affecting financial results in the three and nine month\n periods ended September 30, 2013:\n\n\nTrading activity - As in the first two quarters of the year, the Company continued to\n experience strong participant share trading activity and corresponding\n transaction based revenue in the third quarter of 2013.\n\n\nAcquisitions - CapMX, OptionEase, Corporate Focus and RSSOne were acquired in 2012 and\n early 2013. Revenue, expenses and a loss from operations were recorded\n from these acquired businesses in the three and nine month periods\n ended September 30, 2013.  The Company achieved positive EBITDA and\n cash flow from these acquired businesses commencing in the third\n quarter of 2013 as a result of synergies.  For comparison, revenue and\n expenses were recorded for the CapMX business only for the three months\n ended September 30, 2012 and for four of the nine months ended\n September 30, 2012, as this acquisition occurred in the second quarter...