ISC Reports Fourth Quarter and Year-End Financial Results for 2017

World News: . []

REGINA, Saskatchewan, March 13, 2018 (GLOBE NEWSWIRE) -- Information Services Corporation (TSX:ISV) (“ISC” or the “Company”) today reported on the Company’s financial results for the fourth quarter and year ended December 31, 2017. 

Commenting on ISC’s results, Jeff Stusek, President and CEO stated, “This was a strong year for ISC. Not only did we deliver increased revenue, EBITDA, net income and earnings per share, but we also made two significant acquisitions, which is consistent with our strategy of acquiring companies with competencies or operations in our industry space.” Stusek continued, “Our subsidiaries ESC and ERS are delivering organic growth, while our Registries business continues to demonstrate its resilience in the face of economic challenge. I look forward to the year ahead as we continue to execute on our strategy to deliver shareholder value.”


We see two factors influencing the outlook for our Registries segment, specifically the Saskatchewan Land Registry, those being changes to the mortgage rules and an increase in overnight lending rates. The Office of the Superintendent of the Financial Institutions Canada implemented revisions to its mortgage rules effective on January 1, 2018, which now include a requirement to “stress test” borrowers with uninsured loans to ensure they could withstand increases in interest rates. In addition, The Bank of Canada raised its overnight lending rate on January 17, 2018 following two similar increases in 2017. Interest rate changes often influence consumer behaviour and, as such, may affect ISC’s business. We expect; however, it will be some time before the impact of these changes is known. In general, we expect the performance of our Registries segment in 2018 to be in line with that of 2017.

In our Services segment, we expect to see further customer growth in the Financial Support Services revenue category (beginning in 2018, we will change the way in which we report revenue for our Services segment, consolidating to two categories, namely Legal Support Services and Financial Support Services – for more details, see section “Services Segment” in the Management’s Discussion & Analysis for the year ended December 31, 2017), with customers leveraging Know-Your-Customer on-boarding services as our customers’ programs come on stream during the year. With our recent acquisition of AVS, we also expect continued revenue growth in our Financial Support Services as we are now able to provide complete "best in class" service offerings to the market. ESC will continue to invest in its core technology platforms to enable integrated solutions in conjunction with its AVS technology in the year ahead. 

The key drivers of our expenses will continue to be wages, salaries and information technology costs, as well as the pursuit of new business opportunities.

The acquisition of AVS in December 2017, with a high revenue, lower margin profile, changes ISC’s consolidated revenue and EBITDA margin profile compared to previous years. With that in mind, and based on our outlook, ISC currently expects total revenue of between $124.0 and $130.0 million with an EBITDA margin of between 24.0 per cent and 26.0 per cent. Capital expenditures are expected to range between $4.0 million and $6.0 million and will be funded through operating cash flow.

ISC’s guidance does not include revenue or costs from any potential new contracts in any of its reportable segments.

This news release provides a general summary of ISC’s results for the years ended December 31, 2017 and 2016. Readers are encouraged to download the Company’s complete financial disclosures. Links to ISC’s financial statements and related notes and MD&A for the period are available on our website in the Investor section at

Copies can also be obtained at by searching Information Services Corporation’s profile or by contacting Information Services Corporation at

All figures are in Canadian dollars unless otherwise noted.

The forward-looking information in this release is made as of the date hereof and, except as required under applicable securities legislation, ISC assumes no obligation to update or revise such information to reflect new events or circumstances.

Jonathan HackshawDirector, Investor Relations & Corporate

Pamela Keck Manager, Investor Relations Toll Free:  1-855-341-8363 in North America or 1-306-798-1137

More news and information about Information Services Corporation

Published By:

Globe Newswire: 23:56 GMT Tuesday 13th March 2018

Published: .

Search for other references to "reports" on SPi News

Previous StoryNext Story

SPi News is published by Sector Publishing Intelligence Ltd.
© Sector Publishing Intelligence Ltd 2018. [Admin Only]
Sector Publishing Intelligence Ltd.
Ground Floor Offices, Little Keep Gate, Barrack Road, Dorchester, Dorset DT1 1AH
Registered in England and Wales number 0751938.
Privacy Policy | Terms and Conditions | Contact Us

Advertising on SPi News: Information For Advertisers