Dye & Durham Reports Third Quarter Fiscal 2022 Financial Results | Ezine Daddy

  • STRONG FINANCIAL PERFORMANCE DESPITE DIFFICULT REAL ESTATE MARKET
  • ADJUSTED EBITDA GROWTH FROM 78% $66.8 million AND REVENUE GROWTH OF 78% $122.9 million

TORONTO, May 12, 2022 /CNW/ – Dye & Durham Limited (“Dye & Durham” or the “company“) (TSX: DND), a leading provider of cloud-based software and technology solutions designed to improve efficiency and increase productivity for legal and business professionals, today announced its financial results for the past three months March 31, 2022.

“We had a very strong quarter despite difficult real estate market conditions,” he said Matt proud, CEO of Dye & Durham. “We are investing significantly in our technology platform to continue delivering value to our customers.”

highlights

  • income from $122.9 millionAn increase of $54.0 millionor 78% from the same period last year, primarily due to increased revenue from the acquisitions completed in the trailing twelve months and the realization of revenue synergies.
  • net income from $(7.0) millionAn increase of $3.6 million from the same period last year. The increase was primarily due to higher operating income as a result of increased sales.
  • Adjusted EBITDA1 from $66.8 millionAn increase of $29.2 million or 78% from the prior-year period, primarily due to the realization of revenue synergies from the acquisitions.

Acquisition update

This week the Australian courts authorized the Link Group Scheme Meeting to be called to vote on Dye & Durham’s proposed acquisition of Link Group by way of a scheme of arrangement. The Link Group also sent the Explanatory Booklet for the Scheme Meeting to its shareholders this week. The Scheme Meeting is currently scheduled to take place in mid-July, with the transaction targeting completion in mid-August this year.

Quarterly Dividend

on May 12, 2022the board declared a quarterly dividend of $0.01875 per share to registered shareholders on June 10, 2022payable on June 17, 2022.

Notification of conference call

The company will host a conference call today to discuss its business, Thursday, May 12, 2022at the 5:00 p.m. ET organized by the management. A question and answer session will follow the company update.

CONFERENCE CALL DETAILS

DATE:

Thursday, May 12, 2022

TIME:

5:00 p.m. ET

ACCESS NUMBER:

(416) 764-8659 or (888) 664-6392

REFERENCE NUMBER:

90670854

WALLPAPER PLAYBACK:

(416) 764-8677 or (888) 390-0541

PLAYBACK CODE:

670854#

This call will be webcast and can be accessed at:

https://produceredition.webcasts.com/starthere.jsp?ei=1545990&tp_key=d938d75235

1 Represents a non-IFRS measure. For definitions, see the Non-IFRS Financial Measures section of this press release. Management believes that non-IFRS measures, including EBITDA and Adjusted EBITDA, provide supplemental information to IFRS measures used to assess business performance.

Please see the Company’s most recent Management’s Discussion and Analysis, available on the Company’s profile at www.sedar.com, for a reconciliation of these measures to the closest IFRS measure, the information of which is incorporated herein by reference. Management believes that non-IFRS measures, including EBITDA and Adjusted EBITDA, provide supplemental information to IFRS measures used to assess business performance.

About Dye & Durham

Dye & Durham Limited is a leading provider of cloud-based software and technology solutions designed to improve efficiency and increase productivity for legal and business professionals. Dye & Durham provides critical information services and workflows that clients use to manage their processes, information and regulatory requirements. The company has offices in Canadathat Great Britain, Ireland and Australia and has a strong blue-chip client base that includes law firms, financial services institutions and government organizations.

Visit www.dyedurham.com for more information.

Non-IFRS Measures

This press release refers 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 not likely to be comparable to similar measures reported by other companies.

Rather, these measures are provided as additional information to supplement these IFRS measures by providing a deeper understanding of the Company’s results of operations from management’s perspective and discussing Dye & Durham’s financial outlook. Accordingly, these measures should not be viewed in isolation from, or as a substitute for, analysis of Dye & Durham’s IFRS financial information. The company uses non-IFRS measures including: “EBITDA” and “Adjusted EBITDA”.

EBITDA

EBITDA means net income (loss) before amortization and depreciation charges, financing and interest charges and provisions for income taxes.

Adjusted EBITDA

Adjusted EBITDA adjusts EBITDA for stock-based compensation expense, impairment of assets, losses on servicing loans and advances, gains or losses on changes in the fair value of derivative financial instruments and contingent consideration liabilities measured at fair value through profit or loss, and certain Transactions to related expenses related to acquisitions, IPOs and capital structure reorganization, operational restructuring charges, restructuring charges include full year impact of cost synergies related to acquisition-related headcount reductions.

Forward-Looking Statements

This press release contains forward-looking information and forward-looking statements (collectively, “forward-looking information”) within the meaning of applicable securities laws, which reflect the Company’s current expectations with respect to future events. In particular, information about the Company’s expectations regarding future results, performance, prospects or the markets in which we operate is forward-looking information. In some instances, forward-looking information may be qualified through the use of forward-looking words such as “forecast”, “goal”, “goal”, “may”, “could”, “will”, “expect”, “anticipate”, “estimate”, ” “intend”, “plan”, “state”, “aim”, “believe”, “predict” or “likely” or the negative of these terms or other similar expressions intended to identify forward-looking statements. In addition, all statements containing relate to expectations, intentions, projections or other characterizations of future events or circumstances, forward-looking information.Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections as to future events or circumstances Information is necessarily based on a number of opinions, estimates and assumptions, including I, without limitation, the assumptions described under the heading “Caution Regarding Forward-Looking Information” in the Company’s Management’s Discussion & Analysis for the current quarter March 31, 2022 (the “MD&A”). Forward-looking information is subject to known and unknown risks, uncertainties, assumptions and other factors that could cause actual results or performance to differ materially from those expressed or implied by such forward-looking information, including, but not limited to, and is entirely limited by limited to factors discussed under the heading “Risk Factors” on the Company’s Annual Information Form dated September 28, 2021 and under the heading “Risks and Uncertainties” in the MD&A available under the Company’s profile on SEDAR at www.sedar.com. If one of these risks or uncertainties materializes, or if the opinions, estimates or assumptions underlying the forward-looking information prove incorrect, actual results or future events may differ materially from those anticipated in the forward-looking information. Accordingly, investors should not place undue reliance on forward-looking information, which speaks only as of the date on which it is made. The forward-looking information contained in this press release represents the Company’s expectations as of the date of this press release and is subject to change after that date, and the Company disclaims any intention, obligation or undertaking to update or revise any forward-looking information, whether as a result of new information, future events or for any other reason, except as required under applicable securities laws.

SOURCE Dye & Durham Limited

For More Information: For investor inquiries please contact: Ross Marshall, LodeRock Advisors Inc., [email protected]416.526.1563

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