- Pro forma Adjusted EBITDA for the current quarter is estimated to be between $27 million and $29 million
- Prior to the recent acquisitions, the Company updates its financial guidance for the current quarter to more than $30 million of revenue
TORONTO , Dec. 21, 2020 /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, announced today that it is providing the following financial outlook:
- The Company is updating its financial guidance for the current quarter to more than $30 million of revenue, an increase from the prior range of $27 million to $29 million . This update does not take into consideration the impact of the Company's two most recently announced strategic acquisitions. The expected improvement is primarily due to the Company's integration plans and realization of synergies being ahead of schedule for the recent acquisitions of Property Information Exchange (pie) and Stanley Davis Group acquisition.
- Second quarter fiscal 2021 revenue estimated to be in the range of $54 million to $56 million and Adjusted EBITDA 1 estimated to be in the range of $27 million to $29 million , each on a pro forma basis in the event the DoProcess and SAI Global's Property Division acquisitions had been completed on October 1, 2020 .
These targets are provided to enhance visibility into the Company's expectations for financial targets. Please refer to the section regarding forward-looking statements which forms an integral part of this release.
1 Adjusted EBITDA is a non-IFRS measure. Please see the Non-IFRS Financial Measures section of this press release for more information. Pro forma revenue and pro forma Adjusted EBITDA are based on (i) current quarter forecasted revenue and Adjusted EBITDA of Dye & Durham; and (ii) full quarter forecasted revenue and adjusted EBITDA of DoProcess and SAI assuming the acquisition was completed on October 1, 2020 .
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 has operations in Canada and the United Kingdom , and has a strong blue-chip customer base that includes law firms, financial service institutions, and government organizations.