CALGARY, November 8, 2016 — Solium Capital Inc. (TSX: SUM) (“Solium” or the “Company”) today announced its financial results for the third quarter ended September 30, 2016.

Financial and operating highlights for the three and nine month periods ended September 30, 2016:

  • Revenue increased by 16% to $26.0 million in the third quarter of 2016 and by 10% to $77.0 million for the nine month period ended September 30, 2016;
  • Adjusted EBITDA1 increased by 26% to $4.9 million in the third quarter of 2016 and decreased by 4% to $14.2 million in the nine month period ended September 30, 2016;
  • Earnings from operations increased by 5% to $2.8 million in the third quarter of 2016 and decreased by 33% to $7.5 million for the nine month period ended September 30, 2016;
  • Net earnings increased by 9% to $2.5 million in the third quarter of 2016 and decreased by 51% to $4.3 million in the nine month period ended September 30, 2016; and
  • Cash on hand as at September 30, 2016 totaled $79.7 million.

 

Key factors affecting financial results in the three and nine month periods ended September 30, 2016:

  • Organic growth in license revenue – The Company experienced increased license and subscription fees during the three and nine months ended September 30, 2016 as compared to the same periods in 2015. Based on local currencies, the growth was 1% during the third quarter of 2016, and 5% during the nine months ended September 30, 2016 as compared to the same periods in 2015. With the fluctuation in foreign exchange rates to convert US and international currencies to CAD, license and subscription fee revenue was flat during the third quarter of 2016. It increased by $3.9 million or 8% during the nine months ended September 30, 2016 as compared to the same periods in 2015, primarily driven by organic growth in the U.K. and Europe.

 

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