Business

Issuer Direct heading to NYSE MKT

Morrisville-based Issuer Direct, whose shares have been trading over the counter since a 2007 acquisition, is moving to the New York Stock Exchange’s market for smaller growth companies, NYSE MKT.

The fast-growing business software company announced Thursday that its shares will begin trading on the NYSE MKT, once known as the American Stock Exchange, as of Tuesday.

Issuer Direct will retain the “ISDR” ticker symbol.

CEO Brian Balbirnie said in an interview that the move will bolster the company’s profile and credibility.

Issuer Direct’s cloud-based software aims to make it easier and cheaper for publicly traded companies to meet their disclosure obligations.

In 2013 the company’s revenue doubled to $8.8 million, primarily thanks to the acquisition of Precision IR Group of Richmond, Va., in August. Net income totaled $628,577, up from $305,732 in 2012.

Balbirnie projects that the company will post double-digit growth this year as it capitalizes on synergies from the Precision IR acquisition.

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