Fourth Quarter and Fiscal Year 2021 Financial Results TORONTO, Aug. 23, 2021 /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 three and twelve months ended June 30, 2021.
"Over the last quarter, the Company has continued to demonstrate effective results in line with our expectations and the guidance provided to the market," said Matt Proud, CEO of Dye & Durham.
Fourth Quarter Fiscal 2021 Highlights
- Revenue of $84.4 million, an increase of 494% from the same period in the prior year, primarily due to higher transaction volume, increased revenue from the recent acquisitions that closed in the previous twelve months, and the realization of revenue synergies.
- Net income of $6.3 million, an increase of $10.1 million from the same period in the prior year.
- Adjusted EBITDA1 of $49.1 million, an increase of $40.3 million or 459% from the same period in the prior year.
Fiscal 2021 Highlights
- Revenue of $208.9 million, an increase of 219% from fiscal 2020, primarily due to higher transaction volume, increased revenue from the recent acquisitions that closed in the previous twelve months, and the realization of revenue synergies.
- Net income of $(40.8) million, a decrease of $29.6 million from fiscal 2020, primarily due to increased stock-based compensation expense of $25.7 million, convertible debenture issuance costs of $11.1 million among other items.
- Adjusted EBITDA1 of $116.4 million, an increase of $79.7 million or 217% from fiscal 2020.
Conference Call Notification
The Company will hold a conference call to discuss its business on Monday, August 23, 2021, at 5:00 p.m. ET hosted by senior management.
| CONFERENCE CALL DETAILS |
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| DATE: | Monday, August 23, 2021 |
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| TIME: | 5:00 p.m. ET |
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| DIAL-IN NUMBER: | (416) 764-8659 or (888) 664-6392 |
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| REFERENCE NUMBER | 03225306 |
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| TAPED REPLAY: | (416) 764-8677 or (888) 390-0541 |
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| REPLAY CODE: | 225306# |
This call is being webcast and can be accessed by going to:
https://produceredition.webcasts.com/starthere.jsp?ei=1489198&tp_key=3bd9bf72e7
1 Represents a non-IFRS measure. For the relevant definitions, see "Non-IFRS Financial Measures" section of this press release. Management believes non-IFRS measures, including EBITDA and Adjusted EBITDA provide supplementary information to IFRS measures used in assessing the performance of the business.
Please see the Company's most recent Management's Discussion and Analysis for a reconciliation of these measures to their nearest IFRS measure.
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, which clients use to manage their process, information and regulatory requirements. The Company has operations in Canada, the United Kingdom, Ireland and Australia and has a strong blue-chip customer base that includes law firms, financial service institutions, and government organizations.
Additional information can be found at www.dyedurham.com.