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NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
TORONTO, July 28, 2021 (GLOBE NEWSWIRE) -- Hampton Financial Corporation (“Hampton”) (TSXV:HFC & HFC.PR.A) is pleased to report its financial performance for the 3rd quarter ended May 31st, 2021. Revenues for the quarter were $4,504,000 vs $2,960,000 in the 3rd quarter of last year; an increase of 52%. Net Income for the period was $ 300,000 or $0.01 per share compared to a loss of ($2,476,000) or ($0.08) per share in 2020. EBITDA for the quarter was $641,000 vs ($2,049,000) in the same quarter last year.
For the nine-month period ended May 31st, 2021, Revenues were $11,477,000 vs $8,572,000; an increase of 34% Net income for the same period was $817,000 or $0.03 per share vs a loss of ($2,404,000) or ($0.08) per share. EBITDA for the nine months was $1,972,000 vs ($1,389,000) in the same period last year.
These 3rd quarter record results were derived from strong operating performance in each of Hampton’s business lines, and the realization of long-awaited costs savings resulting from a number of strategic initiatives.
Hampton continues to develop its senior-advisor, principal-agent platform which will offer the industry’s most experienced wealth managers a unique and flexible operating platform that provides additional operational freedom, financial support and tax effectiveness as they build and manage their professional practice.
“The 3rd quarter results represent another record performance since becoming a public company. We want to thank our loyal clients for their continued support, and our exceptional team for their dedication and hard work despite the many challenges posed by the COVID-19 situation. We fully expect to end the fiscal year on a strong note,” said Hampton Executive Chairman & CEO Peter Deeb.
This press release summarizes certain selected financial data contained in the unaudited condensed consolidated interim financial statements and Management’s Discussion and Analysis for the three and nine months ended May 31, 2021 and should not be considered a substitute for reading these full disclosure documents which are available on SEDAR at www.sedar.com.
About Hampton Financial Corporation
Hampton is a unique private equity firm that seeks to build shareholder value. through long-term strategic investments. Through its wholly-owned subsidiary, Hampton Securities Limited (“HSL”), Hampton is actively engaged in family office, wealth management, institutional services and capital markets activities. HSL is a full-service investment dealer, regulated by IIROC and registered in Alberta, British Columbia, Manitoba, Saskatchewan, Nova Scotia, Northwest Territories, Ontario and Quebec. In addition, HSL provides investment banking services, which include assisting companies with raising capital, advising on mergers and acquisitions, and aiding issuers in obtaining a listing on recognized securities exchanges in Canada and abroad.
For more information, please contact:
Chief Financial Officer
Hampton Financial Corporation
Peter M. Deeb
Executive Chairman & CEO
Hampton Financial Corporation
The TSX Venture Exchange has in no way approved nor disapproved the contents of this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
No securities regulatory authority has either approved or disapproved of the contents of this press release. This press release does not constitute or form a part of any offer or solicitation to buy or sell any securities in the United States or any other jurisdiction outside of Canada. The securities being offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or the securities laws of any state of the United States and may not be offered or sold within the United States or to a U.S. person absent registration or pursuant to an available exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. There will be no public offering of securities in the United States.
This press release contains certain forward-looking statements and forward-looking information (collectively referred to herein as "forward-looking statements") within the meaning of applicable Canadian securities laws, which may include, but are not limited to, information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of Hampton. All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "achieve", "could", "believe", "plan", "intend", "objective", "continuous", "ongoing", "estimate", "outlook", "expect", "may", "will", "project", "should" or similar words, including negatives thereof, suggesting future outcomes.
Forward-looking statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors beyond Hampton’s ability to predict or control which may cause actual events, results, performance, or achievements of Hampton to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking statements herein. These risks, uncertainties and other factors include those factors discussed in greater detail in the section entitled “Risk Factors” in Hampton’s Management’s Discussion and Analysis for the three and nine months ended May 31, 2021 (which may be viewed on SEDAR at www.sedar.com). Furthermore, Hampton notes that its business and prospects are subject to added risks associated with and arising from COVID-19, and the uncertainty of the effects, duration and severity of the outbreak.
Forward-looking statements are not a guarantee of future performance. Although Hampton believes that any forward-looking statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such statements, there can be no assurance that any such forward-looking statements will prove to be accurate. Actual results may vary, and vary materially, from those expressed or implied by the forward-looking statements herein. Accordingly, readers are advised to rely on their own evaluation of the risks and uncertainties inherent in forward-looking statements herein and should not place undue reliance upon such forward-looking statements. All forward-looking statements herein are qualified by this cautionary statement. Any forward-looking statements herein are made only as of the date hereof, and except as required by applicable laws, Hampton assumes no obligation and disclaims any intention to update or revise any forward-looking statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward-looking statements herein, whether as a result of new information, future events or results, or otherwise.