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ISC Reports 2021 Third Quarter Financial Results REGINA , Saskatchewan , Nov. 03 , 2021 ( GLOBE NEWSWIRE ) Information Services Corporation ( TSX : ISV ) ( “ ISC ” or the " Company " ) today reported on the Company's financial results for the third quarter ended September 30 , 2021 . 2021 Third Quarter Highlights • Revenue was $ 41.4 million for the quarter , an increase of 11 per cent compared to the third quarter of 2020 . • Net income was $ 9.7 million or $ 0.55 per basic share and $ 0.53 per diluted share compared to $ 5.0 million or $ 0.29 per basic and diluted share in the third quarter of 2020 . • EBITDA was $ 17.5 million compared to $ 10.9 million for the same quarter last year . EBITDA margin was 42.3 per cent for the quarter compared to 29.4 per cent last year . Adjusted EBITDA was $ 17.3 million for the quarter compared to $ 13.2 million in the same quarter last year . Adjusted EBITDA margin was 41.8 per cent compared to 35.6 per cent last year . • Free cash flow for the quarter was $ 13.3 million , an increase of 41 per cent compared to the third quarter of 2020 . • On September 20 , 2021 , ISC announced an extension to its existing credit agreement with a new maturity date of September 17 , 2026 . Financial Position as at September 30 , 2021 • Cash of $ 42.9 million compared to $ 33.9 million as at December 31 , 2020 . • Total debt of $ 56.0 million compared to $ 76.3 million as at December 31 , 2020 . ( thousands of CAD dollars ; except earnings per share and where noted ) Commenting on ISC's results , Jeff Stusek , President and CEO stated , " We continued to deliver strong results in the third quarter of 2021 , fueled by robust economic activity in the markets in which we operate . Overall , my confidence in ISC's forward performance and potential is unwavering . We recognize that the strong economic activity we have seen in 2021 , particularly in Saskatchewan , may not continue indefinitely and that uncertainty remains related to the continued impact of COVID - 19 . However , we have positioned the company well , we continue to optimize its performance , and we remain focused on our customers and our growth . All factors that will ensure our continued success . " Stusek continued , " Subsequent to the end of the quarter my decision to step down from my role as President & CEO was announced concurrently with the appointment of Shawn Peters , our current EVP & CFO as my successor , effective February 1 , 2022. I would like to take this opportunity to thank our Board of Directors , my executive team , all our employees and partners for their support over the years . There is no question that Shawn is the right person to succeed me and I wish him every success . He and I are working closely together to ensure a smooth transition and the continued success of ISC . " Management's Discussion of ISC's Summary of 2021 Third Quarter Financial Results Three Months Ended Revenue Registry Operations Services -- Technology Solutions Corporate and other Consolidated revenue Consolidated expenses Consolidated EBITDA¹ Consolidated EBITDA margin¹ ( % of revenue ) 1 Consolidated adjusted EBITDA¹ Consolidated adjusted EBITDA margin¹ Consolidated net income Earnings per share ( basic ) ¹ Earnings per share ( diluted ) ¹ Free cash flow¹ ISC September 30 , 2021 $ 21,326 18,273 1,769 1 $ 41,369 $ 27,343 $ 17,500 42.3 % $ 17,298 41.8 % $ 9,679 $ 0.55 $ 0.53 $ 13,279 Three Months Ended September 30 , 2020 $ 18,354 16,420 2,346 0 $ 37,120 $ 29,707 10,930 29.4 % $ 13,229 35.6 % $ 5,036 $ 0.29 $ 0.29 $ 9,438 1 EBITDA , EBITDA margin , adjusted EBITDA and adjusted EBITDA margin and free cash flow are not recognized as measures