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Globe and Mail
2 days ago
- Business
- Globe and Mail
SSC Security Services Corp. Reports Strong Third Quarter Results with Improved Margins, Higher Adjusted EBITDA, and Continued Share Buybacks
REGINA, SK , /CNW/ - SSC Security Services Corp. (" SSC" or the " Company") (TSXV: SECU) (OTCQX: SECUF), a national provider of cyber, physical and electronic security services to commercial, industrial and public sector clients across Canada , is pleased to release its results for the third quarter ended June 30, 2025 . All figures are presented in Canadian dollars. "Our third quarter results came in as expected. We continue to see improved profitability from stronger margins as a result of our careful expense management. Gross margin has continued to strengthen, and our base business of recurring revenue continues to grow profitably. We like it when temporary contracts come in the door and they add nicely to our top line picture, however, more important is strong ongoing operational management and gross margin growth within our baseline recurring monthly revenue. As we continue to grow, we see that the size and scale of our operations nicely positions us for the temporary opportunities as they arise," said Chairman and CEO Doug Emsley . "We continue to buy back our shares and take a disciplined approach to acquisitions. Our objective is always to protect our cash and be opportunistic in our efforts to grow the Company. We continue to be well capitalised and debt free. One important point that often goes unmentioned is that, over the past several years, we've returned $55.4 million dollars to shareholders through share buybacks and dividends while consistently operating a profitable business. It's a track record we're extremely proud of," said Emsley. Key Highlights for Q3 2025: Key Performance Indicators for the comparable periods are summarized below: Key Performance Indicators Quarter ended June 30 Nine months ended June 30 (All amounts are in thousands of Canadian dollars unless otherwise indicated) 2025 2024 2025 2024 Revenue 30,177 29,726 87,048 91,010 Cost of sales 24,893 25,012 72,495 76,668 Gross margin 5,284 4,713 14,553 14,343 Gross margin (%) 17.5 % 15.9 % 16.7 % 15.8 % Comprehensive net income (loss) 58 26 (57) 742 Comprehensive net income (loss) per share - basic $0.00 $0.00 $(0.00) $0.04 Adjusted net income 779 715 1,778 1,510 Adjusted net income per share - basic $0.04 $0.04 $0.10 $0.08 Adjusted EBITDA 1,445 1,265 3,650 3,766 Adjusted EBITDA per share - basic $0.08 $0.07 $0.20 $0.20 REVENUE, GROSS PROFIT & NET INCOME Revenues for the quarter ended June 30, 2025 , were $30.2 million compared with $29.7 million during the quarter ended June 30, 2024 , an increase of $0.5 million (revenue increase of 1.7%). The increase in revenues over the same period last year is attributed to internally generated organic growth. Gross profit for the quarter ended June 30, 2025 was $5.3 million (17.5% of revenue) compared to $4.7 million (15.9% of revenue) during the same quarter last year. We continue to see steady improvement in our gross profit margin percentages. These improvements are a result of the continued focus on operating efficiencies and cost reduction initiatives. Comprehensive net income for the quarter ended June 30, 2025 was $0.0 million (profit of $0.00 per share), unchanged from net income the same quarter last year of $0.0 million (profit of $0.00 per share). ADJUSTED NET INCOME & ADJUSTED EBITDA Adjusted EBITDA is the primary KPI used by the Company to measure the financial performance of the Company. Adjusted EBITDA for the quarter ended June 30, 2025 , was $1.4 million ( $0.08 per share), compared with the adjusted EBITDA of $1.3 million ( $0.07 per share) for the prior year third quarter ended June 30, 2024 (this represents a 14.3% increase in Adjusted EBITDA per share). Adjusted net income for the quarter ended June 30, 2025 was $0.8 million (profit of $0.04 per share), compared to an adjusted net income in the same quarter last year of $0.7 million (profit of $0.04 per share). A reconciliation of earnings to adjusted net income and Adjusted EBITDA is provided in the Non-IFRS section of the MD&A published concurrently with this press release. * BALANCE SHEET Key balance sheet items are summarized below: Statements of Financial Position As at As at June 30, 2025 June 30, 2024 Cash 9,634 12,367 Accounts receivable 23,222 23,176 Legacy business assets 6,075 6,719 Working capital 25,354 26,523 Long-term debt 0 0 Total assets 78,551 81,181 Total liabilities 16,746 15,682 Total shareholders' equity 61,805 65,499 Common shares outstanding 18,302 18,816 UPDATE ON NORMAL COURSE ISSUER BID During the quarter ended June 30, 2025 , we bought back 140,900 shares at an average price of $2.42 per share (same quarter last year: 116,800 shares at an average price of $2.59 per share). All shares bought back under the normal course issuer bid have been cancelled. We continue to believe that our shares have been trading in a price range which does not adequately reflect their value and that the purchase of shares under the NCIB enhances remaining shareholder value. Since 2017, the Company has cancelled nearly 48% of its outstanding shares through buybacks. OUTLOOK We are seeing continued growth in demand for the kind of innovative and cost-effective security services and solutions that we offer at SSC. Our ability to combine physical and electronic security services in a fully integrated way is the future of our industry. Additional growth may also come via acquisition, as we look to acquire other profitable companies in the Canadian security industry. Acquisitions may help us reach our growth targets more quickly, but we will not rush to complete new deals, and we will maintain our financial conservatism throughout. Most of our remaining legacy assets are expected to convert to cash over the next year. Our objective is to make these resources available for the expansion of our security business. We also plan to continue to distribute capital to shareholders via our dividend, operate with minimal to no debt while maintaining solid liquidity, focusing on maintaining strong margins, and maximizing our Adjusted EBITDA per share. ABOUT SSC SSC Security Services Corp. is a national provider of cyber, physical and electronic security services to corporate and public sector clients across Canada . For more information, please visit NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. Forward Looking Statements This release includes forward-looking statements regarding SSC and its business. Such statements are based on the current expectations and views of future events of SSC's management. In some cases the forward-looking statements can be identified by words or phrases such as "may", "will", "expect", "plan", "anticipate", "intend", "potential", "estimate", "believe" or the negative of these terms, or other similar expressions intended to identify forward-looking statements. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting SSC, including risks regarding the security industry, the agricultural industry, economic factors and the equity markets generally and many other factors beyond the control of SSC. No forward-looking statement can be guaranteed. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. Accordingly, readers should not place undue reliance on any forward-looking statements or information. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and SSC undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. * Non-IFRS Measures SSC measures key performance metrics established by management as being key indicators of the Company's strength, using certain non-IFRS performance measures, including: EBITDA, EBITDA per share, Adjusted EBITDA, Adjusted EBITDA per share, Adjusted Net Income, Adjusted Net Income per share. The Company uses these non-IFRS measures for its own internal purposes. These non-IFRS measures do not have any standardized meaning prescribed by IFRS, and these measures may be calculated differently by other companies. The presentation of these non-IFRS measures is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. The Company provides these non-IFRS measures to enable investors and analysts to understand the underlying operating and financial performance of the Company in the same way as it is frequently evaluated by Management. Management will periodically assess these non-IFRS measures and the components thereof to ensure their continued use is beneficial to the evaluation of the underlying operating and financial performance of the Company. For more detailed information, please refer to the Company's Management Discussion and Analysis dated August 19, 2025 available on the Company's website at and on SEDAR+ at
Toronto Sun
04-08-2025
- Politics
- Toronto Sun
Saskatchewan's Scott Moe speaks out against AI 'deepfakes' of him circulating online
Published Aug 04, 2025 • 1 minute read Saskatchewan Premier Scott Moe holds a press conference after the first ministers' meeting at TCU Place in Saskatoon, Sask. on Monday, June 2, 2025. Photo by Michelle Berg / Postmedia Network REGINA — Saskatchewan Premier Scott Moe says his government is doing whatever it can to track down the creators of so-called 'deepfakes' of him and other prominent figures. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account Moe's likeness, including his voice, has been used in online video ads for cryptocurrency schemes that he says he would never endorse. The premier says on his official social media that some of the videos, which are created with artificial intelligence, feature him and others, including Prime Minister Mark Carney. Moe says his government is doing its best to find the people behind the videos, but adds it can be difficult to prevent the scams. It's not the first time Moe's image has been used to market the scams — he first acknowledged them in March. Saskatchewan's consumer watchdog has been issuing warnings about the impersonation scams and urges people not to send money to companies that aren't registered in the province. RECOMMENDED VIDEO Columnists Wrestling Opinion NHL World
Hamilton Spectator
01-08-2025
- Business
- Hamilton Spectator
Premiers Smith, Moe disappointed by Trump's tariffs but most exports remain duty-free
REGINA - The premiers of Alberta and Saskatchewan say they're disappointed by higher tariffs from U.S. President Donald Trump but pleased the majority of their exports won't face duties. Saskatchewan Premier Scott Moe says the Canada-United States-Mexico trade agreement remains in place, allowing 95 per cent of his province's exports to move into the United States tariff-free. He says the agreement staying in effect is very significant and provides Canada with an advantage over other countries facing steeper levies. Alberta Premier Danielle Smith says the vast majority of her province's products also remain tariff-free, because they also fall under the agreement. Trump followed through late Thursday on his threat to hit Canada with 35 per cent tariffs — up from 25 per cent — on goods not compliant with the trade agreement. Tariffs of 50 per cent remain in effect on steel and some copper products, and levies on Canadian automobiles and lumber are also in place. U.S. Census Bureau data shows nearly 60 per cent of Canadian goods that entered the country in May were complaint with the agreement. Smith says it's unfortunate non-compliant goods will be hit with the higher tariffs. 'These tariffs hurt both Canadian and American businesses and workers, and they weaken one of the most important trade and security alliances in the world,' she said in a social media post Friday. 'I remain convinced that the path to a positive resolution with our U.S. partners lies in strong, consistent diplomacy and a commitment to working in good faith toward shared priorities.' Prime Minister Mark Carney's countermeasures of 25 per cent tariffs on $30 billion in U.S. goods remain in effect. Moe said Carney should refrain from imposing additional retaliatory measures. He also said Ottawa needs to cut regulations to spur pipeline and rail development. 'There is much more that Canada can do to control our own economic destiny, but the federal government must remove barriers to growth in order to make that happen,' Moe said in a statement. Smith said Carney should continue negotiating with Trump, while working toward diversifying the country's economy. This report by The Canadian Press was first published Aug. 1, 2025. Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
Hamilton Spectator
21-07-2025
- Business
- Hamilton Spectator
Saskatchewan, Ottawa to boost farming program in response to trade issues and drought
REGINA - Saskatchewan's government and Ottawa say they're providing additional support to a farm income stabilization program in response to trade issues and dry conditions. The province says farmers who use AgriStability will see an increase in their compensation rate from 80 per cent to 90 per cent, resulting in larger payouts if eligible margins decline. It says the maximum payment cap is doubling from $3 million to $6 million per operation, and livestock producers will see a new inventory valuation method for feed used on the farm. Federal Agriculture Minister Heath MacDonald says the changes aim to give farmers more protection. Areas of southern Saskatchewan and Alberta are in a drought, which has decimated crop yields. Farmers are also dealing with trade uncertainty due to tariffs from China and the United States. This report by The Canadian Press was first published July 21, 2025. Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
Toronto Star
21-07-2025
- Business
- Toronto Star
Saskatchewan, Ottawa to boost farming program in response to trade issues and drought
REGINA - Saskatchewan's government and Ottawa say they're providing additional support to a farm income stabilization program in response to trade issues and dry conditions. The province says farmers who use AgriStability will see an increase in their compensation rate from 80 per cent to 90 per cent, resulting in larger payouts if eligible margins decline.
