Leading provider of registry and information management services for public data and records
Recently posted its strongest financial performance since going public five years ago
Has further diversified its business with the introduction of its Technology Solutions segment in 2018, which complements its Registry Operations and Services segments
Multiple acquisitions have bolstered the company's footprint and growth plans
Who is ISC?
Information Services Corp (TSE:ISV) is a leading provider of registry and information management services for public data and records.
The Regina, Saskatchewan-headquartered business provides solutions to manage, secure and administer information.
The company has a host of diversified, yet complementary revenue streams through its three service offering segments: Registry Operations, Services and Technology Solutions.
ISC has offices in eight Saskatchewan communities: Humboldt, Moose Jaw, North Battleford, Prince Albert, Regina, Saskatoon, Swift Current and Yorkton.
The company works with both governments and private sector organizations seeking information management services.
How is it doing?
In its most recent quarterly and annual fiscal statements, the company reported promising results.
The company reported 2018 was its strongest financial performance, on a consolidated basis, in its five years as a publicly traded company.
The information management specialist noted it had last year made significant acquisitions, consistent with its strategy of acquiring companies with competencies or operations in its industry. Notably, the company acquired AVS Systems Inc late in 2017.
ISC's ESC segment, which delivers of products and services to customers in the legal and financial sectors, bolstered its portfolio of ID verification tools and other cloud-based know-your-customer (KYC) services, thanks to its C$6.8 million asset purchase agreement of the bulk of the assets owned by Securefact Transaction Services.
The deal was arranged for its Services segment, via its wholly-owned subsidiary ESC Corporate Services Ltd, which had been Securefact’s data provider for a number of years.
On a corporate level, the company was named one of Saskatchewan's best places to work for an 11th straight year. The provincial competition, which honours top employers of the year, is judged with the same criteria as the national competition that’s administered by editors of Canada’s Top 100 Employers. ISC was cited for its in-house training and tuition subsidies, retirement planning assistance and a defined-contribution pension plan.
Finances are strong
From the finance side, in 2018, the company reported revenue for the year ended Dec. 31, 2018 of $119.1 million, which was up 27.3% on a year-over-year basis. Its earnings before interest, taxes, depreciation and amortization (EBITDA) increased 19.5% year over year to $35.9 million.
The company reported net income for the year of $18.7 million, or $1.06 per share, down from $27.8 million, or $1.58 per share, in 2017, as a result of the gain on the sale of the company's ownership interest in Dye & Durham in 2017.
2018 and all eyes on 2019, says CEO
"Together – with our employees and communities – we have created a company with tremendous potential and an ability to deliver for all our stakeholders," noted CEO Jeff Stusek in the annual report. "ISC entered 2018 with great expectations, fuelled by the expansion of our Services segment at the end of 2017. I am pleased to report on a successful year of growth as 2018, on a consolidated basis, delivered the strongest financial performance in our five years as a publicly traded company.
"Each of our three segments makes an important contribution to our performance and our ability to serve customers. We will continue to nurture our strengths in each to ensure they deliver meaningful contributions to consolidated EBITDA as efficiently as possible."
Contact Katie Lewis at [email protected]