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REGINA, Saskatchewan, May 05, 2020 (GLOBE NEWSWIRE) — Advice Casework Corporation (TSX:ISV) (“ISC” or the “Company”) today appear on the Company’s banking after-effects for the aboriginal division concluded March 31, 2020. 



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2020 Aboriginal Division Highlights



Financial Position as at March 31, 2020



Commenting on ISC’s results, Jeff Stusek, President and CEO stated, “Our primary focus, until all restrictions accompanying to COVID-19 are removed, is ensuring the chain of our casework with the bloom and assurance of our employees, barter and stakeholders a top priority. This communicable has had a abrogating appulse on the all-around abridgement which has fabricated the approaching uncertain.  As such, we accept absitively to abjure our advice for the year.”  Stusek continued, “Nevertheless, all of our businesses are operating, with best of our advisers alive from home, and our after-effects for the division were accomplished because the circumstances.  My acknowledgment to all our advisers for advancing calm and ensuring we can abide to bear for our customers.”      

Management’s Discussion of ISC’s Arbitrary of 2020 Aboriginal Division Banking Results

1 EBITDA, EBITDA margin, acclimatized EBITDA and acclimatized EBITDA allowance and chargeless banknote breeze are not accustomed as measures beneath IFRS and do not accept a connected acceptation assigned by IFRS and, therefore, they may not be commensurable to agnate measures appear by added corporations.  For added information, amuse accredit to area 9.8 “Non-IFRS Banking Measures” and area 2 “Consolidated Banking Analysis” for a adaptation of EBITDA and acclimatized EBITDA to net assets in Management’s Discussion and Analysis for the three months concluded March 31, 2020. Accredit to area 6.1 “Cash Flow” for a adaptation of chargeless banknote breeze in Management’s Discussion and Analysis for the three months concluded March 31, 2019.

2020 Aboriginal Division After-effects of Operations

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OutlookThe afterward area includes advanced information, including statements accompanying to the industries in which we operate, advance opportunities and our approaching banking position and results. Accredit to “Caution Regarding Forward-Looking Information”.

In March 2020, the World Bloom Organization declared COVID-19 a all-around pandemic. This catching ache outbreak, which has connected to spread, and any accompanying accessible bloom developments, has abnormally afflicted workforces, economies, and banking markets globally, potentially arch to an bread-and-butter downturn.

We accept been and abide to adviser the abeyant appulse of COVID-19 on our people, operations and business. The bearings continues to evolve, and our accumulated Business Chain Plan has been acclimatized to abode COVID-19. Our primary focus, until all restrictions accompanying to COVID-19 are removed is ensuring the chain of our casework with the bloom and assurance of our employees, barter and stakeholders a top priority. All our advisers accept been apprenticed to booty careful measures, as recommended by government bloom authorities, to advice anticipate the advance of infection. We accept bankrupt all our concrete offices to the accessible and best of our advisers accept been alive from home back mid-March. Our technology systems are able-bodied and accept handled the added amount placed on them with advisers alive from home. We additionally apprehend that as added barter transact business online than normal, they will be able to do so seamlessly.

ISC has congenital a strong, acceptable and growing business underpinned by our two better segments, Anthology Operations and Services. These two segments bear bendability and growth, respectively, while our Technology Solutions articulation focuses to become a allusive contributor to our circumscribed after-effects in the years to come.

One agency influencing the angle for both our Anthology Operations and Casework segments is the appulse on our transaction volumes due to the restrictions put in abode to advice accommodate the advance of COVID-19.  Despite this, the casework offered by both segments accept remained accessible to our barter via our online aperture or blast and afterwards abeyance back the advance of COVID-19. Nevertheless, we apprehend our volumes from absolute barter to be lower than accustomed for the antithesis of 2020.

For our Technology Solutions segment, several implementations are ongoing. As jurisdictions focus on responding to COVID-19, we apprehend that the timelines and appropriately the acceptance of our revenues for some of our implementations will be delayed.  Due to the ambiguity surrounding the continuance and abeyant outcomes of the COVID-19 pandemic, we are unable, at this time, to adumbrate the all-embracing appulse on our operations and banking after-effects for the butt of the year, but the appulse may be material. As a result, we are abandoning our guidance.

Although we apprehend COVID-19 to abnormally appulse transaction volumes, acquirement and EBITDA in the abbreviate term, the Aggregation is able-bodied positioned to administrate through this bearings and our abiding action charcoal centered on carrying amount for shareholders through the constant achievement of our absolute business and the beheading of adapted advance opportunities.

The Aggregation will additionally analyze adapted accretion targets which are commutual to or add amount to absolute curve of business. The about-face of our business charcoal a key allotment of our strategy, which we will abide to pursue.

Note to ReadersThe Board of Admiral (“Board”) carries out its albatross for analysis of this acknowledgment primarily through the Audit Committee, which is comprised alone of absolute directors. The Audit Committee reviews and approves the budgetary anniversary Management’s Discussion and Analysis (“MD&A”) and banking statements and recommends both to the Board for approval. The acting banking statements and MD&A are advised and accustomed by the Audit Committee.

This account absolution provides a accepted arbitrary of ISC’s after-effects for the abode concluded March 31, 2020, and 2019. Readers are encouraged to download the Company’s complete banking disclosures. Links to ISC’s banking statements and accompanying addendum and MD&A for the aeon are accessible on our website in the Broker Relations area at www.company.isc.ca.

Copies can additionally be acquired at www.sedar.com by analytic Advice Casework Corporation’s contour or by contacting Advice Casework Corporation at investor.relations@isc.ca.

All abstracts are in Canadian dollars unless contrarily noted.

Conference Alarm and WebcastWe will authority an broker appointment alarm on Wednesday, May 6, 2020 at 11:00 a.m. ET (9:00 a.m. MDT) to altercate the results. Participants may accompany the alarm by dialing toll-free (844) 419-1765 or (216) 562-0470 for calls alfresco North America. Simultaneously, an audio webcast of the appointment alarm will additionally be accessible at the afterward articulation www.company.isc.ca/investor-relations/events. The audio book with a epitomize of the webcast will be accessible about 24 hours afterwards the accident on our website at the articulation above. We allure media to appear on a listen-only basis.

About ISCHeadquartered in Canada, ISC is the arch provider of anthology and advice administration casework for accessible abstracts and records. Throughout our history, we accept delivered amount to our audience by accouterment solutions to manage, defended and administrate advice through our Anthology Operations, Casework and Technology Solutions segments. ISC is focused on comestible its amount business while advancing new advance opportunities. The Class A Shares of ISC barter on the Toronto Stock Exchange beneath the attribute ISV.

Cautionary Note Regarding Forward-Looking InformationThis account absolution contains advanced advice aural the acceptation of applicative Canadian balance legislation including, afterwards limitation, those independent in the “Outlook” area hereof and statements accompanying to the industries in which we operate, advance opportunities and our approaching banking position and results.  Advanced advice involves accepted and alien risks, uncertainties and added factors that may account absolute after-effects or contest to alter materially from those bidding or adumbrated by such advanced information. Important factors that could account absolute after-effects to alter materially from the Company’s affairs or expectations accommodate risks apropos to changes in the action of the economy, including those arising from accessible bloom concerns, assurance on key barter and licences, assurance on key projects and clients, accepting new business and fixed-price contracts, identification of applicative advance opportunities, accomplishing of our advance strategy, antagonism and added risks abundant from time to time in the filings fabricated by the Aggregation including those abundant in ISC’s Annual Advice Form for the year concluded December 31, 2019 and ISC’s unaudited Condensed Circumscribed Acting Banking Statements and Addendum and Management’s Discussion and Analysis for the aboriginal division concluded March 31, 2020, copies of which are filed on SEDAR at www.sedar.com.

The advanced advice in this absolution is fabricated as of the date hereof and, except as appropriate beneath applicative balance legislation, ISC assumes no obligation to amend or alter such advice to reflect new contest or circumstances.

Investor Contact

Jonathan HackshawDirector, Broker Relations & Capital MarketsToll Free:  1-855-341-8363 in North America or 1-306-798-1137investor.relations@isc.ca

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