Informational Services Corporation Reports Third Quarter Improvement, Thanks to Registry Operations and Services Segment
The Saskatchewan-based company also declared a quarterly dividend of $ 0.23 per Class A voting share after increasing its expected annual dividend by 15% to $ 0.92 per share to reflect the strength of its current business. and affirm its commitment to continue to reward shareholders as it grows.
Information Services Corporation released third quarter results showing an 11% year-over-year increase in revenue, fueled by strong economic activity in the markets in which it operates, including its registry operations and service segment.
Revenue for the quarter ended September 30, 2021 reached $ 41.4 million, while adjusted underlying earnings (EBITDA) climbed 31% to $ 17.3 million from $ 10.9 million in the corresponding quarter of the previous fiscal year, when its Adjusted EBITDA margin improved to 41.8% from 35.6% previously. .
The Saskatchewan-based company also declared a quarterly dividend of $ 0.23 per Class A voting share after increasing its expected annual dividend by 15% to $ 0.92 per share to reflect the strength of its business. current and to affirm its commitment to continue to reward shareholders while growing.
READ: ISC Appoints Shawn Peters President and CEO
Net income reached $ 9.7 million or $ 0.55 per share and $ 0.53 per diluted share compared to $ 5 million or $ 0.29 per basic and diluted share in the third quarter of 2020.
Free cash flow for the quarter was $ 13.3 million, an increase of 41% over the prior comparable period and ended September with cash of $ 42.9 million, compared to $ 33.9 million as of December 31, 2020.
“We recognize that the strong economic activity we experienced in 2021, particularly in Saskatchewan, may not continue indefinitely and that uncertainty remains linked to the continued impact of the coronavirus (COVID-19),” said the President and CEO Jeff Stusek in a statement.
âHowever, we have positioned the company well, we continue to optimize its performance and we remain focused on our customers and our growth. These are all factors that will ensure our continued success.
Stusek said his decision to step down was announced alongside the appointment of Shawn Peters, currently executive vice president and chief financial officer, as a replacement effective February 1, 2022.
“There is no question that Shawn is the right person to succeed me and I wish him every success,” added Stusek.
âHe and I work closely together to ensure a smooth transition and the continued success of ISC. “
Information Services Corporation provides registry and information management services for data and public records and is focused on sustaining the core business of the registry while pursuing new growth opportunities.
The company has a multitude of diversified but complementary sources of revenue through its three business segments: registry operations, services and technology solutions.
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