Jovian Capital Corp. today reported an increase in profit for the third quarter ended Dec. 31, 2004.

Net earnings for the third quarter totalled $600, compared to earnings of $100,000 for the third quarter of the previous year, adjusted for the adoption of the stock-based compensation accounting policy change.

Total revenue for the quarter was $20.3 million, a 65% increase over $12.3 million for the same quarter last year.

Total expenses for the quarter were $19.8 million, compared with $12.3 million the prior year. The increase in expenses is a result of Jovian’s growth on a year-over-year basis, both internally and through aforementioned acquisitions.

Jovian said the he increase in third-quarter revenue ass primarily due to strong results in Jovian’s Rice Financial Group Inc. and McFarlane Gordon Inc. subsidiaries.

“We’ve made significant progress in our operating results since becoming a public company in 2003,” said Philip Armstrong, Jovian’s president and CEO. “We are encouraged by the progress all our companies continue to make in growing their revenue and increasing operating margins.”

During the quarter, Jovian completed its acquisition of DeltaOne Capital Partners Corp. (Canada).

Jovian also announced a successful renegotiation of its credit facility with the Brascan Bridge Lending Fund, facilitating a three-year operating and acquisition facility.