ISC Provides Annual Guidance and Outlook for 2023 – Press Release

[ad_1]

REGINA, Saskatchewan, Feb. 09, 2023 (GLOBE NEWSWIRE) — Information Services Corporation ISV (“ISC”, “we” or the “Company”) today announced its outlook and annual guidance for 2023.

Highlights – Consolidated Annual Guidance 20231

  • Revenue is expected to be between $200.0 million and $205.0 million
  • Net income is expected to be between $27.0 million and $32.0 million
  • Earnings before interest, taxes, depreciation and amortization (“EBITDA”) 1 is expected to be between $58.0 million and $63.0 million
  • Adjusted EBITDA1 is expected to be between $65.0 million and $70.0 million

Outlook

As the world begins to navigate post-pandemic conditions, including a higher interest rate environment, we continue to believe that ISC is positioned for success, given the proven robustness of our business. The Company anticipates revenue consistency in 2023, driven by its two core segments, Registry Operations and Services, through the addition of Ontario Property Tax Services revenue and the continuing expansion of our Services suite of products and services to existing customers.

The Registry Operations segment is expected to remain a strong free cash flow contributor and a direct beneficiary of any future upswing in economic conditions in Saskatchewan. We will continue to monitor economic conditions, particularly any further increases to interest rates in 2023, which can have a temporary dampening effect on transaction volumes. However, provincial market publications suggest the housing market is changing as consumers adjust to higher lending rates and higher costs of living. Saskatchewan continues to fare better than many other regions in the country, and this is expected to persist in 2023. Based on the data we use to model our own trends and forecasts, we agree with this view. In addition, following the acquisition of Reamined Systems Inc. in June 2022, and the addition of Ontario Property Tax Services to our Registry Operations Segment, we expect additional, consistent revenue from…

[ad_2]