ISC POSTS THIRD CONSECUTIVE PROFITABLE YEAR

Information Services Corporation (ISC) of Saskatchewan had its third consecutive profitable year in 2006, resulting in a profit of $8.7 million for the registry and land services Crown corporation.  This follows profits of $8.3 million in both 2005 and 2004.
 
“ISC’s strengths in the areas of financial management, customer service and product innovation have resulted in another excellent year financially and operationally,” Minister responsible for ISC Eric Cline said.  “Since 2003, the corporation has paid $37.5 million in short-term and long-term debt, while net income has also grown.  ISC’s employees and leadership are to be congratulated for this positive track record of financial stability and sustained profitability.”

Increased property market values and higher volumes in the Land Registry and Saskatchewan Personal Property Registry (SPPR) account for ISC’s strong performance.  Financial highlights included:

• Revenues of $47.7 million were posted in 2006, compared to $45.8 million in 2005; 
• Operating expenses were $39 million in 2006, compared to $37.5 million in 2005; and,
• $13.6 million in debt was repaid, reducing the accumulated debt to $25.4 million.

Operational highlights from 2006:

• ISC continued to see high volumes of standard Land Registry transactions and maintained the turnaround time for transactions at 2.5 days. 
• In February 2006, ISC introduced the SPPR.  Customers access this searchable public registry via the internet 24 hours a day, seven days a week for a nominal fee when buying used cars, farm machinery or other equipment to check for registered liens.  SPPR customers now conduct almost 100 per cent of their registrations and interest searches online and indicate they are satisfied with the new online service.
• ISC is committed to achieving organizational excellence and reached Level II of the National Quality Institute’s (NQI) Progressive Excellence Program, and completed its submission for Level II accreditation in the NQI Healthy Workplace Program.  NQI quality standards are among the highest in the world for private and public sector corporations and ISC will continue to pursue higher levels within the program.
• ISC developed a new Vision and Values in 2006 that focuses on integrity, customers, leadership, business excellence and innovation, and encourages all employees to make a difference at work and in their communities.  Among the new initiatives that followed were the establishment of a Youth Task Force, Diversity and Equity Committee and Leadership Development Program.

“ISC has demonstrated through the success of the past three years that we are listening to our customers and responding to their needs,” ISC Chief Customer Officer Scott Hodson said.  “Our many accomplishments in 2006 were a strong reflection of the growth, quality and enthusiasm that characterizes ISC.  However, we won’t stand still.  We will continue to search for opportunities to improve the delivery of products and services to existing and new customers.”

Information Services Corporation of Saskatchewan is the provincial Crown corporation responsible for the administration of the Land Registry, the Saskatchewan Personal Property Registry and geographic information systems, surveys, mapping products and services.  More information about ISC can be found online at www.isc.ca.

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For more information, contact:

Grant Bastedo
Information Services Corporation
Regina
Phone: 306-787-3447
Email: grant.bastedo@isc.ca
Cell: 306-533-2365