Issuer Direct Corp. reported a 2 percent increase in its third quarter revenue compared to earnings in the third quarter 2016 while its earnings rose 58 percent.

The Morrisville-based communications company reported total revenue of $2.93 million compared to $2.87 million one year ago, and earnings per share of $308,000, or 10 cents per share, compared to net income of $195,000, or 7 cents per share, in the same quarter a year ago.

“As our business continues to transition into our platform first strategy, we have been able to continue to outpace our legacy service business decline, with total revenues increasing 2 percent and cash flow from operations increasing 19 percent year over year,” CEO Brian Balbirnie said in a statement.

“Although there is still some seasonality in our business due to the nature of annual meetings, the strong year over year increase in cash flow illustrates the leverage and earnings power in our model, especially as more and more of our revenues are derived from our higher margin Platform and Technology business.”

On Oct. 2, Issuer Direct acquired Interwest Transfer Co. for about $3.23 million, a transaction comprised of both cash and sale of common stock.

The acquisition is not reflected in the third quarter earnings as the quarter only includes the three months ended Sept. 30.

Issuer Direct did not provide earnings guidance for the remainder of the year.

The company’s stock rose to $16.85 before returning to Friday’s opening price of $16.80, a net chance of 0 percent.

The filing can be found here.