CALGARY, ALBERTA — (Marketwire) — 08/08/12 — Solium Capital Inc. (TSX: SUM) (“Solium” or the “Company”) today announced its financial results for the second quarter and six month period ended June 30, 2012.
The Company-s revenues from operations for the three and six month periods ended June 30, 2012 were consistent with those in the same periods of 2011. Revenue was $11.9 million for the second quarter of 2012 (2011: $11.4 million) and $24.6 million for the six month period ended June 30, 2012 (2011: $24.5 million). Earnings from operations increased to $1.7 million for the second quarter of 2012 (2011: $1.1 million) and to $4.6 million for the six month period ended June 30, 2012 (2011: $4.0 million).
Excluding the impact of the Computershare matter discussed below, adjusted EBITDA increased to $2.7 million in the second quarter of 2012 (2011: $2.2 million) and to $6.8 million in the six month period ended June 30, 2012 (2011: $6.2 million), and net earnings were $0.5 million in the second quarter of 2012 (2011: $0.5 million) and $2.5 million in the six month period ended June 30, 2012 (2011: $2.8 million).
Inclusive of all items, net earnings were $8.3 million in the second quarter of 2012 (2011: $0.5 million) and $10.3 million in the six month period ended June 30, 2012 (2011: $2.8 million).
The key factors affecting the results in the three and six month periods ended June 30, 2012 are:
Financial results for the quarter and six month period ended June 30, 2012:
Notes:
The following is a reconciliation of Adjusted EBITDA to net earnings:
HIGHLIGHTS OF FINANCIAL PERFORMANCE
About Solium Capital Inc.
Solium Capital Inc. (TSX: SUM), a software-as-a-service company, is a leading global provider of web-based stock plan administration technology and services. Solium-s software helps companies automate and manage their stock option and purchase plans, by providing unrivalled comprehensive regulatory and financial reporting capabilities. Founded in 1999, Solium has offices in Canada, the United States and the United Kingdom.
Certain statements included or incorporated by reference in this press release constitute forward-looking statements or forward-looking information under applicable securities legislation. Forward-looking statements or information typically contain statements with words such as “anticipate”, “believe”, “expect”, “plan”, “intend”, “estimate”, “propose”, or similar words suggesting future outcomes or statements regarding an outlook. Such forward-looking statements or information are based on a number of assumptions which may prove to be incorrect. Although Solium believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements or information because Solium can give no assurance that such expectations will prove to be correct. The forward-looking statements and information are based on Solium-s current expectations, estimates and projections, and are subject to a number of significant risks and uncertainties that could cause actual results to differ materially from those anticipated. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
The Management-s Discussion and Analysis and the condensed consolidated interim financial statements for the three and six month periods ended June 30, 2012 referred to herein will be available on SEDAR at under Solium Capital Inc., or at .
Contacts:
Solium Capital Inc.
Mike Broadfoot
CEO and Managing Director
(403) 450-6026
(877) 380-7793
Solium Capital Inc.
Lynn Leong
EVP, Finance & Admin
(403) 450-6015
(877) 380-7793