Integrated Asset Management Corp.
TSX : IAM

Integrated Asset Management Corp.

August 07, 2008 17:08 ET

Integrated Asset Management Corp. Announces Results for the Third Quarter of Fiscal 2008

TORONTO, ONTARIO--(Marketwire - Aug. 7, 2008) - Integrated Asset Management Corp. ("IAM") (TSX:IAM) today announced unaudited financial results for the quarter ended June 30, 2008.



Review of the 3-Month Period Ended

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June 30, 2008 June 30, 2007
(thousands except (thousands except
HIGHLIGHTS per share amounts) per share amounts)
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Assets and Committed
Capital Under
Management ("AUM") $3,291,000 $3,007,000
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Revenues before
Performance Fees $5,715 $5,690
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Performance Fees $5,676 $5,413
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Total Revenues $11,391 $11,103
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EBITDA(1) $4,122 $2,740
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Income before income
taxes and non-controlling
interest $3,796 $1,692
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Net income and
comprehensive income $1,785 $1,170
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Earnings Per Share $0.06 $0.04
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(1) Earnings before interest, taxes, depreciation and amortization
("EBITDA") is a non-GAAP earnings measure used by IAM.


AUM increased by approximately $312 million during the nine months ended June 30, 2008 from $2,979 million as at September 30, 2007 as a result of two new funds launched by the Corporation during the quarter ended March 31, 2008; a private corporate debt fund and a real estate fund.

Total revenues in the three months ended June 30, 2008 were $11.4 million compared to $11.1 million in the quarter ended June 30, 2007 reflecting an increase in performance fees realized. Virtually all of the performance fees realized in the quarter were from the real estate operations with the remainder from the Corporation's retail alternative investments (BluMont Capital) and managed futures operations.

EBITDA for the three months ended June 30, 2008 increased to $4.1 million from $2.7 million in the prior year's comparable quarter due primarily to the higher net performance fees realized by the Corporation in the current quarter.

Net income and comprehensive income was $1.8 million or $0.06 per share in the current quarter versus $1.2 million or $0.04 per share in the prior year's comparable quarter.

IAM earns performance fees when investment returns outperform a designated benchmark. These benchmarks are contract specific, variable and only apply to certain investment products.

For detailed financial statements for the year, including Management's Discussion and Analysis, please refer to IAM's website at www.iamgroup.ca or SEDAR at www.sedar.com after August 11, 2008.

IAM is Canada's leading alternative asset management company with approximately $3.3 billion in assets and committed capital under management in real estate, private corporate debt, private equity, managed futures and retail alternative investments.

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