SSC Security Services Corp INPCF

Primary Symbol: V.SECU Alternate Symbol(s): SECUF

Industrials Security & Protection Services

SSC Security Services Corp. is a national provider of cyber, physical and electronic security services to corporate and public sector clients across Canada, through its subsidiary, Logixx Security Inc. The Company's segments include Security Services, Legacy Operations, and Corporate. The Security Services segment provides security services to primarily commercial and public sector clients. Services include cybersecurity services, protective services as well as security system design, sales, installations, and monitoring and alarm response. Under cybersecurity services, it provides managed security services (MSS), vulnerability and risk analysis, cybersecurity consulting services, CISO consulting, and others. Under physical security services, it provides on-site security guard, remote continuous camera monitoring, mobile patrol and investigative services. Under electronic security services, it designs, builds, installs, and monitors electronic security systems for corporate clients.

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Comment by bradfarquharon May 16, 2018 5:19pm

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Post# 28042097

RE:RE:Yikes

WheresMeGold,

I'm happy to do some explaining to everyone here right now.

We have told investors several times that canola movement was so good from September through December that about 95% of the canola we expected to receive from the 2017 crop was sold by December 31, 2017. Normally, we would expect to get to about 70%.

In the previous year, canola deliveries were spread out more evenly from September to March. The result of this is that our September 2017 year end report and our December 2017 Q1 report contained much better results than the previous year from a revenue and profit perspective, because compared to the year before, they brought the revenue forward, taking it away from Q2, which is the quarter we just reported. That's a better news story than leaving canola sitting in bins all over western Canada just to sell it in January to March so the numbers look comparable to last year. We prefer to have cash in the bank than canola in the bin.

Remember - we only have a finite amount of crop contracted to us each year. If we sell it faster one year compared to the previous year, that will make some quarters look great compared to the year before, but it will also make some look bad. That's why you can never look at Input's business on a quarterly basis in isolation from the annual numbers. That would be like asking a Saskatchewan farmer how much wheat he grew in January. Or a snow removal company why its sales in July are slow. It's just not how things work. We're required to report quarter by quarter, but you should always look at the full year-over-full year numbers.

For that, I point you to pages 6 and 12 of the MD&A.

In the most recent Trailing Twelve Months (TTM), we sold 87,591 MT of canola compared to 60,116 in the previous comparable period. That's $42.2 million in adjusted streaming sales in the last 12 months, up from $28.6 million in the previous period.

TTM EBITDA per share = $0.20 (down from $0.23 last year)
TTM Adjusted Operating Cash Flow per share = $0.22 (up from $0.20 last year)
TTM Adjusted Net Income per share = $0.02 (up from $0.01 last year)

All the best,

Brad Farquhar
Executive VP & CFO
Input Capital Corp.