NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
TORONTO, April 29, 2021 (GLOBE NEWSWIRE) — Hampton Financial Corporation (“Hampton” or the “Corporation”) (TSXV:HFC & HFC.PR.A) is pleased to report the release of its unaudited condensed consolidated interim financial statements for the three and six months ended February 28, 2021.
For the 2nd Quarter ended February 28, 2021 compared to the same quarter in 2020;
Revenues reported were $4,580,000 vs $2,675,000; an increase of 71.2%.
Net Income reported was $594,000 or $0.02 per share vs $221,000 or $0.01 per share.
EBITDA reported was $1,043,000 vs $593,000.
For the 6 months ended February 28, 2021 compared to the same period in 2020;
Revenues reported were $6,973,000 vs $5,614,000; an increase of 24.2%.
Net Income reported was $517,000 or $0.02 per share vs $74,000 or $0.00 per share.
EBITDA reported was $1,331,000 vs $741,000.
These 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.
For the fiscal period ended February 28, 2021 (6 Months), Hampton’s wholly owned subsidiary, Hampton Securities Limited (“HSL”) participated in a record number of new issues and secondary offerings, raising $216.4 million for public and private issuers, compared with $182.3 million in the first half of 2020; an increase of 18.7%.
During the second quarter of 2021, Hampton has also launched a major project to enhance its social media program and initiated an upgrade to its reporting systems which will create both proprietary advisor and client facing solutions that will set the firm apart. Hampton continues to develop its senior-advisor, principal-agent platform which will offer the industry’s most experienced wealth managers a flexible operating platform that provides additional operational freedom, financial support and tax effectiveness as they build and manage their professional practice.
“In this quarter we achieved record results 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 exit this pandemic crisis as a stronger organization as a result of their efforts,” 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 six months ended February 28, 2021 and should not be considered a substitute for reading these full disclosure documents which are available on SEDAR at http://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 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 the Corporation. 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 the Corporation’s ability to predict or control which may cause actual events, results, performance, or achievements of the Corporation 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 the Corporation’s Management’s Discussion and Analysis for the three and six months ended February 28, 2021 (which may be viewed on SEDAR at http://www.sedar.com). Furthermore, the Corporation 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 the Corporation 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, the Corporation 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.