Jovian Capital Corp. today reported a huge jump in profit for the third quarter ended Dec. 31, 2006.

The financial services holding company reported $1.9 million and $2.2 million in net earnings for the three and nine months ended Dec. 31, 2006 as compared to $0.1 million and $0.2 million for both comparative periods of the prior year.

Revenue for the quarter and nine months ended Dec. 31, 2006 was $36.7 million and $97.6 million, compared to $26.6 million and $71.9 million in the prior year.

This represents an increase of $10.1 million or 38% quarter-over-quarter and an increase of $25.7 million or 36% for the comparative nine month period.

“Results for the nine months reflect our growing business and are meeting management’s expectations,” said Philip Armstrong, president and CEO, in a news release. “We continue to strive to diversify our revenue sources in order to achieve greater predictability to our financial results. The strong gains made over the last nine months are reflected in the increases in revenue, EBITDA, and client assets.”

Client assets as at Dec. 31, 2006 were $13.5 billion as compared to $10.2 billion for the prior year.

Jovian reported EBITDA (defined as earnings before interest on long-term debt, taxes, depreciation, amortization revaluation of share redemption liability and non-controlling interest) of $6.1 million for the three months ended Dec. 31, 2006, representing a fully-diluted EBITDA per share of 5¢, compared to $2.6 million, or 3¢ per share for the same quarter in the previous year.

For the nine months ended Dec. 31, 2006, EBITDA was $12.2 million or 10¢ per share, compared to $6.5 million or 7¢ per share for the nine months ended Dec. 31, 2005.

Total expenses for the three month period ended Dec. 31, 2006 were $34.8 million, compared to $26.5 million in the corresponding quarter of the prior year. The company reported $95.3 million in total expenses for the nine months ended Dec. 31, 2006, compared to $71.7 million in 2005.

The Jovian group of companies operates as a national financial services organization with approximately $13.5 billion of client assets.