- STRONG FINANCIAL PERFORMANCE, DESPITE CHALLENGING REAL ESTATE MARKET
- ADJUSTED EBITDA GROWTH OF 78% TO
$66.8 MILLION AND REVENUE GROWTH OF 78% TO$122.9 MILLION
"We had a very strong quarter, despite challenging real estate market conditions," said
Highlights
- Revenue of
$122.9 million , an increase of$54.0 million , or 78%, from the same period in the prior year, primarily due to increased revenue from the acquisitions that closed in the previous twelve months and the realization of revenue synergies. - Net income of
$(7.0) million , an increase of$3.6 million from the same period in the prior year. The increase was primarily due to increased operational income as a result of an increase in revenue. - Adjusted EBITDA1 of
$66.8 million , an increase of$29.2 million or 78% from the same period in the prior year, primarily due to the realization of revenue synergies from the acquisitions.
Acquisition Update
This week the Australian courts approved the convening of the Link Group shareholders meeting (Scheme Meeting) to vote on the proposed acquisition of Link Group by
Quarterly Dividend
On
Conference Call Notification
The Company will hold a conference call to discuss its business later today,
CONFERENCE CALL DETAILS | |
DATE: | |
TIME: | |
DIAL-IN NUMBER: | (416) 764-8659 or (888) 664-6392 |
REFERENCE NUMBER: | 90670854 |
TAPED REPLAY: | (416) 764-8677 or (888) 390-0541 |
REPLAY CODE: | 670854# |
This call is being webcast and can be accessed by going to:
https://produceredition.webcasts.com/starthere.jsp?ei=1545990&tp_key=d938d75235
1 Represents a non-IFRS measure. For the relevant definitions, see "Non-IFRS Financial Measures" section of this press release. Management believes non-IFRS measures, including EBITDA and Adjusted EBITDA provide supplementary information to IFRS measures used in assessing the performance of the business.
Please see the Company's most recent Management's Discussion and Analysis, which is available on the Company's profile at www.sedar.com, for a reconciliation of these measures to their nearest IFRS measure, which information is incorporated by reference herein. Management believes non-IFRS measures, including EBITDA and Adjusted EBITDA, provide supplementary information to IFRS measures used in assessing the performance of the business.
Additional information can be found at www.dyedurham.com.
Non-IFRS Measures
This press release makes reference to certain non-IFRS measures. These measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies.
Rather, these measures are provided as additional information to complement those IFRS measures by providing further understanding of the Company's results of operations from management's perspective and to discuss
EBITDA
EBITDA means net income (loss) before amortization and depreciation expenses, finance and interest costs, and provision for income taxes.
Adjusted EBITDA
Adjusted EBITDA adjusts EBITDA for stock-based compensation expense, asset impairment charges, loss on settlement of loans and borrowings, gains or losses from changes in fair value of derivative financial instruments and contingent consideration liabilities measured at fair value through profit or loss, specific transaction related expenses related to acquisitions, IPO and capital structure reorganization, operational restructuring costs, restructuring costs includes impact to the full year of cost synergies related to the reduction of employees in relation to acquisitions.
Forward-Looking Statements
This press release contains forward–looking information and forward-looking statements (collectively, "forward-looking information") within the meaning of applicable securities legislation, which reflect the Company's current expectations regarding future events. Particularly, information regarding the Company's expectations of future results, performance, prospects or the markets in which we operate is forward-looking information. In some cases, forward-looking information can be identified by the use of forward-looking terminology such as "forecast", "target", "goal", "may", "might", "will", "expect", "anticipate", "estimate", "intend", "plan", "indicate", "seek", "believe", "predict", or "likely", or the negative of these terms, or other similar expressions intended to identify forward-looking statements. In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management's expectations, estimates and projections regarding future events or circumstances. Such forward-looking information is necessarily based on a number of opinions, estimates and assumptions, including but not limited to those assumptions described under the heading "Caution Regarding Forward-Looking Information" in the Company's Management's Discussion & Analysis for the quarter ended
SOURCE
© Canada Newswire, source