Information Services Corporation has said it expects the resilience the business has shown in 2021 to continue this year and is guiding for revenue to come in between C$168 million and C$173 million for 2022.
Net income is expected to reach between C$23 and C$27 million and earnings before interest, taxes, depreciation and amortization (EBITDA) for the full year to be between C$48 and C$53 million.
Both registry operations and services - the group's two largest segments - benefitted from a strong economy in 2021, the former mainly due to the robust real estate sector in Saskatchewan, the company noted.
"Consequently, we expect that Registry Operations will continue to be a robust contributor to our results in 2022, due largely to the strong cash flow this business generates on a consistent basis," it said.
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"Additional investments in 2022 related to people and technology will be made within this segment to ensure continued high levels of service as well as secure and efficient systems," it added.
ISC (TSX:ISV) said it expected Services to "continue to deliver organic growth in 2022," aided by continuous technology advancements driving operational efficiency and new product innovation.
"In Technology Solutions, we expect to see continued progress and completion of solution delivery projects where COVID-19 and other related delays have resulted in certain milestones being deferred to 2022," it added.
The group also told investors it would actively explore appropriate acquisition targets in 2022 that "complement or add value to our existing lines of business or provide new key service offerings that will also drive value".
Information Services Corporation provides registry and information management services for public data and records.
The company has a host of diversified, yet complementary revenue streams through its three business segments: Registry Operations, Services and Technology Solutions.
Contact the author at giles@proactiveinvestors.com