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Loyalist Group earns $1.88-million in Q3 2014

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chambers   Wednesday, 11/26/14 12:36:55 PM
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Loyalist Group earns $1.88-million in Q3 2014
Ticker Symbol: C:LOY
Loyalist Group earns $1.88-million in Q3 2014
Loyalist Group Ltd (C:LOY)
Shares Issued 148,814,592
Last Close 11/25/2014 $0.58
Wednesday November 26 2014 - News Release
Mr. Andrew Ryu reports
Loyalist Group Ltd. has released financial results for the three and nine months ended Sept. 30, 2014.
Third quarter revenue for the three months ended September 30, 2014, was a record $19.6 million, an increase of 93% over the same period in 2013. Income from operations was $3.2 million, a 43% increase over the same period in 2013, while net income was $1.9 million, an increase of 14% over the same period in 2013. Adjusted EBITDA was $3.6 million, an increase of 50% over the same period in 2013, and Adjusted EBITDA margin was 18.6%.
Revenues continue to rise as a result of acquisitions closed through September 30, 2014, as well as organic growth of $1,000,000 or 10.0 % on the base business, as enrollments continued to trend higher. Student count on a "same store" basis was up 4% year over year.
"Our third quarter continued to demonstrate the potential of our acquisition and integration strategy with double digit organic growth and record revenues," said CEO Andrew Ryu. "While the third quarter is traditionally our strongest quarter due to industry seasonality, our exceptional results exceeded our expectations. We are very pleased with the performance of our most recent acquisitions in the third quarter."
On the integration front, Mr. Ryu commented that "we continue to devote significant resources to the integration and consolidation of our acquisitions so that we can realize the synergies inherent in our consolidation strategy. At the end of the third quarter we implemented another wave of restructuring measures that should yield significant savings going forward."
The following table summarizes and compares three month results for the periods ended September 30, year over year:

Three months ended September
30, 2014 2013 % Change

Revenue $ 19,626,107 $ 10,180,761 +93%

Gross Profit $ 8,374,269 $ 4,785,282 +75%

Income From Operations $ 3,233,689 $ 2,268,592 +43%

Net Income $ 1,885,246 $ 1,657,480 +14%

Adjusted EBITDA(i) $ 3,643,056 $ 2,430,511 +50%

(i)Adjusted EBITDA, a non-IFRS measure used by management to act as an
indicator of its core operating business; is defined as earnings before
interest, taxes, depreciation, and amortization, adjusted for integration,
restructuring and acquisition costs, and loss on foreign exchange.


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