Q1 resultsThings are humming along nicely.
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Timia Capital earns $83,106 in Q1 2018
2018-04-26 16:21 ET - News Release
Mr. Darren Seed reports
TIMIA CAPITAL ANNOUNCES FIRST QUARTER FINANCIAL RESULTS
Timia Capital Corp. has released financial results for the first quarter ended Feb. 28, 2018.
First quarter 2018 highlights include:
- Record revenue of $360,179, up 72 per cent over the same period last year;
- Assets under management grew over 92 per cent compared with the same period last year;
- A significant increase in net income to $83,106 compared with a net loss of $133,108 in the same period last year;
- Significant gain on investment in the quarter of $308,903.
Adjusted earnings before interest, taxes, depreciation and amortization of $71,607 compared with an adjusted EBITDA of $4,138 for the same period last year.
Timia's loan investment portfolio (loans receivable) increased 42 per cent to $5,964,085 compared with $4,192,409 in the same period last year.
"We're off to a strong start for 2018 with record revenue and a strong gain on investments," said Mike Walkinshaw, chief executive officer of Timia. "We have continued to invest in the hottest sector in technology, the software as a service or SaaS industry, and have invested in key growth companies who continually outpace the market. As a result of the positive performance of our underlying investments, and the increased level of M&A activity in the private software industry, we've seen early exits in our portfolio. These exits, while intermittent, have resulted in profitable gains on investments as our revenue and income grow with the overall portfolio."