Integrated Asset Management Corp. Announces Results for the Third Quarter of Fiscal 2015 and Declares Annual Dividend
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 08/06/15 -- Integrated Asset Management Corp. ("IAM") (TSX: IAM) today announced unaudited financial results for the quarter ended June 30, 2015 and that its Board of Directors has approved payment of the annual dividend in the amount of $0.06 per common share.
Net loss for the quarter ended June 30, 2015 was $0.2 million or $(0.01) per share versus net income in the quarter ended June 30, 2014 of $1.0 million or $0.04 per share. The Corporation realized net performance fees of $2.7 million in the prior year''s quarter from the monetization of one of its real estate funds. There were nominal net performance fees in the current quarter. The loss in the quarter was a result of an unrealized loss (approximately $0.2 million pre-tax) in a fund we had previously seeded.
EBITDA for the three months ended June 30, 2015 was $0.5 million compared with $2.5 million in the same quarter of fiscal 2014; the latter includes net performance fees of $2.7 million.
The Corporation has been marketing the 5th Private Debt Fund and an Infrastructure Fund during 2015 and expects both funds to be closed in calendar 2015 with commitments which will add significantly the current level of assets under management of $1.7 billion.
John Robertson, President and Chief Executive Officer, said "We are extremely excited about the progress the Private Debt Group is making in raising the 5th Private Debt Fund and our first Infrastructure Debt Fund. When this is complete, towards calendar year end, the core businesses, Real Estate and Private Debt, will have 2 years of committed capital to invest. This means there should be a significant and steady increase in recurring revenue. That should have a beneficial effect on cash flow as well as building increasing stability of earnings".
The Board of Directors of the Corporation has approved payment of a regular annual dividend on its outstanding shares of $0.06 per common share which will be paid on September 9, 2015 to shareholders of record on August 17, 2015.
For detailed financial statements for the quarter, including Management''s Discussion and Analysis, please refer to IAM''s website at or SEDAR at after August 11, 2015.
IAM is one of Canada''s leading alternative asset management companies with approximately $1.7 billion in assets and committed capital under management in real estate, private debt and managed futures as of August 5, 2015.
Contacts:
Stephen Johnson
CFO
416 933 8278
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Datum: 06.08.2015 - 06:00 Uhr
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