Dye & Durham Announces Fiscal 2023 Outlook and Analyst Conference Call

TORONTO, Dec. 7, 2021 /CNW/ - Dye & Durham Limited (TSX: DND) ("Dye & Durham" or the "Company"), a leading provider of cloud-based software and technology solutions designed to improve efficiency and increase productivity for legal and business professionals, today announced its financial outlook for fiscal 2023 based on the recent significant changes and growth within its business, including the recent acquisition of TELUS' Financial Solutions Business. The Company will hold a conference call today to discuss the recent acquisition. The call is scheduled for this morning, Tuesday, December 7, 2021, at 8:30 a.m. ET. The call will be hosted by Matthew Proud, Chief Executive Officer, Avjit Kamboj, Chief Financial Officer, and John Robinson, Global Chief Operations Officer, followed by a question-and-answer period.

Outlook for full year fiscal 2023

For the twelve-month period ending June 30, 2023, management expects Adjusted EBITDA¹ to be a minimum of $350 million.

Conference Call Details

DATE: Tuesday, December 7, 2021
TIME: 8:30 a.m. ET
DIAL-IN NUMBER: [phone] or [phone]
REFERENCE NUMBER: 16792106
TAPED REPLAY: [phone] or [phone]
REPLAY CODE: 792106#
This call is being webcast and can be accessed by going to:
https://produceredition.webcasts.com/starthere.jsp?ei=1518511&tp_key=3cbdfeae53

An archived replay of the webcast will be available for two weeks by clicking the link above.

1)	Represents a non-IFRS measure. For the relevant definitions, see "Non-IFRS Financial Measures" section of this press release. Management believes non-IFRS measures, including Adjusted EBITDA provide supplementary information to IFRS measures used in assessing the performance of the business.
	Please see "Cautionary Note Regarding Non-IFRS Measures" and "Select Information and Reconciliation of Non-IFRS Measures" in the Company's most recent Management's Discussion and Analysis, which is available on the Company's profile at www.sedar.com, for a reconciliation of these measures to their nearest IFRS measure, which information is incorporated by reference herein.

About Dye & Durham
Dye & Durham Limited is a leading provider of cloud–based software and technology solutions designed to improve efficiency and increase productivity for legal and business professionals. Dye & Durham provides critical information services and workflows, which clients use to manage their process, information and regulatory requirements. The Company has operations in Canada, the United Kingdom, Ireland and Australia, and has a strong blue-chip customer base that includes law firms, financial service institutions, and government organizations.

Additional information can be found at www.dyedurham.com.

Non-IFRS Financial Measures

Adjusted EBITDA is not defined by and does not have a standardized meaning under International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board. This non-IFRS financial performance measure is defined below. Non-IFRS financial measures are used by management to assess the financial and operational performance of the Company. The Company believes that this non-IFRS financial measure, in addition to conventional measures prepared in accordance with IFRS, enables investors to evaluate the Company's operating results, underlying performance and prospects in a similar manner to the Company's management. As there are no standardized methods of calculating these non-IFRS measures, the Company's approaches may differ from those used by others, and accordingly, the use of these measures may not be directly comparable. Accordingly, this non-IFRS measure 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.

"EBITDA" means net income (loss) before amortization and depreciation expenses, finance and interest costs, and provision for income taxes.

"Adjusted EBITDA" adjusts EBITDA for stock-based compensation expense, asset impairment charges, loss on settlement of loans and borrowings, realized loss on derivatives, gains or losses from re-financing transactions, specific transaction-related expenses related to acquisitions, the Company's initial public offering and capital structure reorganization, and operational restructuring costs.

Please refer to the Company's most recent management discussion and analysis for further information on non-IFRS measures.

Forward-looking Statements

This press release may contain forward-looking information within the meaning of applicable securities laws, which reflects the Company's current expectations regarding future events, including with respect to the Company's financial outlook and business strategy. In some cases, but not necessarily in all cases, forward-looking statements can be identified by the use of forward looking terminology such as "plans", "targets", "expects" or "does not expect", "is expected", "an opportunity exists", "is positioned", "estimates", "intends", "assumes", "anticipates" or "does not anticipate" or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", "will" or "will be taken", "occur" or "be achieved". In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking statements. Forward-looking statements are not historical facts, nor guarantees or assurances of future performance but instead represent management's current beliefs, expectations, estimates and projections regarding future events and operating performance.

Specifically, Dye & Durham's forecast on Adjusted EBITDA is considered forward-looking information. The foregoing demonstrates Dye & Durham's objectives, which are not forecasts or estimates of its financial position, but are based on the implementation of its strategic goals, growth prospects and growth initiatives. Management's assessments of, and outlook for, Adjusted EBITDA set out herein are generally based on the following assumptions: (a) Dye & Durham's results of operations will continue as expected, (b) the Company will continue to effectively execute against its key strategic growth priorities, (c) the Company will continue to retain and grow its existing customer base and market share, (d) the Company will be able to take advantage of future prospects and opportunities, and continue to realize on synergies, (e) there will be no changes in legislative or regulatory matters that negatively impact Dye & Durham's business, (f) current tax laws will remain in effect and will not be materially changed, (g) economic conditions will remain relatively stable throughout the period, (h) the industries Dye & Durham operates in will continue to grow consistent with past experience, and (i) a reasonably acceptable business outcome is achieved in the regulatory review of the TM Group acquisition. The Company considers these assumptions to be reasonable in the circumstances, given the time period for such projections and targets. The achievement of target Adjusted EBITDA set out above is subject to significant risks including, but not limited to: (a) that the Company will be unable to effectively execute against its key strategic growth priorities, (c) an unreasonable business outcome is enforced based on the regulatory review of the TM Group acquisition, and (b) the Company will be unable to continue to retain and grow its existing customer base and market share. These estimates have been prepared by and are the responsibility of management.

Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to, the factors discussed under "Risk Factors" in the Company's most recent annual information form. Dye & Durham does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

SOURCE Dye & Durham Limited

Investor Relations: Ross Marshall, Phone: [phone], E-mail: [email protected]

Related Links

https://dyedurham.com/