ECN Capital Corp. reported its fourth-quarter and 2019 financial results. For the three-month period ended Dec. 31, 2019, ECN Capital reported adjusted net income applicable to common shareholders from continuing operations of $18.5 million versus $18.2 million for the previous three-month period ended Sept. 30, 2019 and $15.4 million for the fourth quarter last year. For the 12-month period, the company reported adjusted net Income applicable to common shareholders of $66.0 million versus $36.6 million for the same period last year.

“2019 was an excellent year at ECN as each of our businesses met or exceeded our raised guidance for the year”, said Steven Hudson, CEO of ECN Capital Corp. “We continue to expect significant growth and great opportunities.”

Highlights

• Originations for the three-month period ended Dec. 31, 2019 were $542 million versus $639 million in the previous three-month period and $463 million for the same period last year.
• Total Earning Assets Managed and Advised as at December 31, 2019 were $33.6 billion, versus $32.6 billion as at September 30, 2019.
• Adjusted EBITDA for the three-month period ended December 31, 2019 was $33.1 million versus $34.0 million for the previous three-month period and $34.1 million for the same period last year.
• Operating Expenses for the three-month period ended December 31, 2019 were $32.9 million versus $29.3 million reported for the previous three-month period and $33.3 million for the same period last year.
• Net Income (loss) for the three-month period ended December 31, 2019 was ($8.9) million versus $2.4 million for the previous three-month period and ($107.5) million for the same period last year. For the 12-month period ended December 31, 2019 the company reported net income (loss) of ($24.4) million versus ($166.5) million for the same period last year.