Business
Solium Releases 2014 Second Quarter Financial Results
Revenue increased by 28% Adjusted EBITDA increased by 83% Cash position ...
About this update from Summit Royalties Ltd
[{"type":"text","content":"\n\n\n\n\n\n\nRevenue increased by 28%\n\n\nAdjusted EBITDA increased by 83%\n\n\nCash position strong at $49.3 million\n\n\n\nCALGARY, Aug. 6, 2014 /CNW/ - Solium Capital Inc. (\"Solium\" or the\n \"Company\") today announced its financial results for the second quarter\n ended June 30, 2014.\n\n\nFinancial and operating highlights for the three and six month periods\n ended June 30, 2014:\n\n\n\n\n\n\nRevenue increased by 28% to $20.0 million in the second quarter of 2014\n and by 24% to $41.8 million for the six month period ended June 30,\n 2014;\n\n\n\n\n\n\n\nEarnings from operations increased by 142% to $4.2 million in the second\n quarter of 2014 and by 71% to $10.2 million for the six month period\n ended June 30, 2014;\n\n\n\n\n\n\n\nAdjusted EBITDA1 increased by 83% to $5.4 million in the second quarter of 2014 and by\n 51% to $12.6 million in the six month period ended June 30, 2014;\n\n\n\n\n\n\n\nNet earnings increased by 80% to $2.4 million in the second quarter of\n 2014 and by 74% to $7.0 million in the six month period ended June 30,\n 2014; and\n\n\n\n\n\n\n\nCash and short-term investments as at June 30, 2014 totaled $49.3\n million.\n\n\n\nKey factors affecting financial results in the three and six month\n periods ended June 30, 2014:\n\n\n\n\n\n\nOrganic growth and strong trading activity - The Company experienced higher license and subscription fees in the\n three and six months ended June 30, 2014 as compared to the same\n periods in 2013 as a result of organic growth.  In addition, the\n Company experienced stronger participant share trading activity and\n corresponding transaction based revenue compared to the same periods in\n 2013.  Certain seasonal factors typically contribute to higher\n transaction based revenue in the first quarter of a given year. As\n expected, the second quarter of 2014 displayed seasonal decline in\n transaction based revenue compared to the first quarter of 2014. \n However, the second quarter decline was not as significant as\n experienced in prior years.\n\n\n\n\n\n\n\nForeign exchange - The U.S. dollar (USD) was higher compared to the Canadian dollar (CAD)\n during the three and six months ended June 30, 2014 compared to the\n same periods in 2013. This had a positive impact on the Company's net\n earnings due to the translation of USD financial results int...