REGINA, SASKATCHEWAN–(Marketwired – Dec. 14, 2016) – Information Services Corporation (TSX:ISV) (“ISC” or the “Company”) today reported that Saskatchewan registry services resumed operations yesterday evening.
ISC experienced a broad technology service disruption affecting the availability of Saskatchewan registry services and support on Wednesday, December 7. This outage was not isolated to ISC. The Company understands the outage also impacted other clients of its technology service provider.
Commenting on the event Jeff Stusek, President & CEO said “We would like to thank all our stakeholders, especially our customers, for their patience and understanding. Our system technology was restored on Friday, December 9th. This was just the first of many steps required for the orderly resumption of registry services to the public. Over the past few days we have worked in close collaboration with the statutory officials from the Ministry of Justice to develop and execute this methodical series of steps designed to ensure continued integrity of these important registries.”
As registry operations resume, the Company will be working to address any backlog that may have accumulated. ISC will also be reviewing the financial impact to fiscal 2016, if any, as a result of this temporary suspension of registry services.
About ISC
Headquartered in Canada, ISC is the leading provider of registry and information management services for public data and records. Throughout our history we have delivered value to our clients by providing solutions to manage, secure and administer information through our registry and services segments. ISC is focused on sustaining its core business while pursuing new growth opportunities. The Class A Shares of ISC trade on the Toronto Stock Exchange under the symbol ISV.
Cautionary Note Regarding Forward-Looking Information
This news release contains forward-looking information within the meaning of applicable Canadian securities legislation, including management’s expectations and certain assumptions with respect to our registry services and products, and, in particular, the resumption and continuing operation of our registry services, the other services we provide, our competitive landscape, economic conditions in Canada and in particular, Saskatchewan, Ontario and Quebec, real estate market in Saskatchewan, economic impact of energy and resource sectors, transaction volumes, statements regarding the future financial position or results of ISC, customer growth and diversification, dividend expectations, creation of shareholder value, growth opportunities, capital and operating expectations, real gross domestic product, changes that impact our registry services, such as changes in high-value property registrations, motor vehicle sales volume and the number of active business entities, consolidated EBITDA margin, income taxes, our ability to attract and retain skilled staff, the compensation and benefits that will be paid or provided to employees and our level of customer service, as well as goodwill and intangibles are material factors in preparing forward-looking statements.
In addition, the words “may”, “will”, “would”, “should”, “could”, “expect”, “plan”, “intend”, “trend”, “indicate”, “anticipate”, “believe”, “estimate”, “predict”, “project”, “targets”, “strive”, “strategy”, “continue”, “likely” or “potential” or the negative or other variations of these words or other comparable words or phrases are intended to identify forward-looking statements. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information. Although ISC believes the forward-looking information contained in this release is based upon reasonable assumptions, readers are cautioned not to place undue reliance on forward-looking information as it is inherently uncertain and no assurance can be given that the expectations reflected in such information will prove to be correct. Many factors and risks could cause our actual results to differ materially from those expressed or implied by forward-looking information including those detailed in ISC’s Annual Information Form, dated March 15, 2016, ISC’s Consolidated Financial Statements and Notes and Management’s Discussion and Analysis for the quarter ended September 30, 2016, as well as other documents filed by ISC with Canadian securities regulators through SEDAR at www.sedar.com from time to time. Investors and others should carefully consider the above-noted factors and risks and other uncertainties and potential events. The forward-looking information in this release is made as of the date hereof and, except as required under applicable securities legislation, ISC assumes no obligation to update or revise such information to reflect new events or circumstances.
Jonathan Hackshaw
Director, Investor Relations & Corporate Communications
Information Services Corporation
306-798-2136
[email protected]
Pamela Keck
Manager, Investor Relations
Information Services Corporation
Toll Free: 1-855-341-8363 in North America or 1-306-798-1137
[email protected]
MEDIA CONTACT
Shea Haverstock
Manager, Corporate Communications
Information Services Corporation
306-787-1343
[email protected]
