Jovian Releases Results for Quarter Ending June 30, 2007

    Success of Recurring Business Offsets Decline in Non-recurring Trading

    TORONTO, Aug. 9 /CNW/ - Jovian Capital Corporation (Jovian) (JVN: TSX-V)
today released its quarterly report to shareholders, detailing results for the
quarter ended June 30, 2007.
    "Results for the three months reflect our ability to diversify our
revenue sources to achieve more predictable financial results," says Philip
Armstrong, CEO of Jovian. "Although non-recurring trading caused our total
revenue and EBITDA to drop this quarter, the continued success of our
recurring business ensures long term stability."


    Revenue for the quarter ended June 30, 2007, was $30.5 million, compared
to $39.8 million in the prior year.


    Jovian reported EBITDA (defined as earnings before interest, taxes,
revaluation of share redemption liability, non-controlling interest,
depreciation and amortization) of $2.2 million for the three months ended June
30, 2007, representing a diluted EBITDA per share of $0.02, compared to
$8.1 million, or $0.07 per share for the same quarter in the previous year.


    Jovian reported a loss for the quarter ended June 30, 2007, of
$0.1 million. This compares to earnings of $3.9 million for the corresponding
period ended June 30, 2006.


    Total expenses for the three month period ended June 30, 2007, was
$30.6 million, compared to $35.9 million in the corresponding quarter of the
prior year, representing a decrease of $5.5 million or 15.2 per cent.
    Selling, general and administration expense was $8.3 million for the
three months ended June 30, 2007, compared to $8.3 million during the same
period the prior year. Selling, general and administration expense represents
27 per cent of total revenues and comprises 27 per cent of total expenses for
the quarter ended June 30, 2007, compared to 21 per cent of total revenues and
23 per cent of total expenses for the quarter ended June 30, 2006.

    Liquidity and Capital Resources

    Cash and only those investments considered cash equivalents, included
under the title Securities Owned, were $27.5 million as at June 30, 2007,
compared with $29.1 million as at June 30, 2006. Jovian continues to hold
highly liquid assets due to its regulatory requirements and operational needs.

    Selected Financial Data

    Quarterly Review (unaudited)
    (in thousands of Canadian Dollars)

                                        Three Months Ended
    Fiscal Year        2008              2007                    2006
     (March 31)
                        June    Mar    Dec   Sept   June    Mar    Dec   Sept
                       30/07  31/07  31/06  30/06  30/06  31/06  31/05  30/05
        Revenues      30,481 30,818 36,664 21,047 39,840 59,894 26,553 25,741
    (a) Operating
         Expenses     28,206 30,029 30,578 22,979 31,686 48,485 23,808 23,275
    (b) Adjusted
         EBITDA        2,275    789  6,086 (1,932) 8,154 11,409  2,745  2,466
    (a) Stock-based
         Expense          74    124     14     37     54    229    150    153
         EBITDA        2,201    665  6,072 (1,969) 8,100 11,180  2,595  2,313
         (loss)          (54)  (260)(1,885)(3,559) 3,903  5,293     84     51
        Earnings per
         - basic        0.00   0.00   0.02  (0.03)  0.03   0.06   0.00   0.00
        Earnings per
         share -
         diluted        0.00   0.00   0.02  (0.03)  0.03   0.05   0.00   0.00
    (a) Stock-based compensation expense is a non-cash item included in
        operating expenses as a result of the adoption of the Canadian
        Institute of Chartered Accountants Handbook Section 3870, Stock-Based
        Compensation and Other Stock-Based Payments. For measurement
        purposes, stock-based compensation expense is excluded from operating
        expenses in this table in order to determine Adjusted EBITDA.
    (b) EBITDA and Adjusted EBITDA are non-GAAP performance measures utilized
        by Jovian. EBITDA is defined here as earnings before interest on
        long-term debt, taxes, depreciation, amortization, revaluation of
        share redemption liability and non-controlling interest. Adjusted
        EBITDA is EBITDA adjusted for stock-based compensation.

    About Jovian Capital Corporation

    Jovian is a publicly-traded company listed on the TSX Venture Exchange
(JVN). Jovian is a management and holding company with interests in a variety
of financial service firms specializing in wealth(*) and asset(xx) management.
The Jovian group of companies operates as a national financial services
organization with approximately $15.0 billion of client assets ($5.5 billion
in assets under management and $9.5 billion in assets under administration).

    (*) Wealth management entities include MGI Securities Inc., MGI
        Securities (USA) Inc. and Rice Financial Group Inc. (xx)Asset
        management entities include Accumulus Management Ltd., BetaPro
        Management Inc., Horizons Funds Inc., JovFunds Management Inc.,
        JovFunds Inc., Leon Frazer & Associates Inc. and T.E. Wealth.
        Financial corporate service entities include Felcom Data Services
        Inc. and Services Felcom Data (Quebec) Inc./Felcom Data Services
        (Quebec) Inc.

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.

For further information:

For further information: Don Sangster, Investor Relations, Jovian
Capital Corporation, (416) 933-5744; Jason Mackey, Chief Financial Officer,
(416) 933-5755; or Philip Armstrong, Chief Executive Officer, Jovian Capital
Corporation, (416) 933-5752

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