OTTAWA, ONTARIO — (Marketwire) — 06/05/12 — International Datacasting Corporation (TSX: IDC), a global leader in digital content distribution for the world-s premiere broadcasters, today announced results for the first quarter fiscal 2013 period ended April 30, 2012.
The Corporation-s consolidated revenue for first quarter fiscal 2013 was $9.7 million, an increase of 16% from $8.4 million in first quarter fiscal 2012. When excluding the impact of foreign exchange, revenue increased by 14% in first quarter fiscal 2013 compared to first quarter fiscal 2012. EBITDA(1) improved to a loss of ($63,350) versus a loss of ($243,494) in the first quarter fiscal 2012.
Financial Highlights
For the Three Months Ended April 30 FY2013 vs. April 30 FY2012
For the Three Months Ended April 30 FY2013 vs. January 31 FY2012:
In first quarter fiscal 2013, the Corporation recorded a 66% increase in gross profit over fourth quarter fiscal 2012.
Revenues for the IDC Products segment decreased 40% from $5.1 million to $3.1 million from first quarter fiscal 2012 to first quarter fiscal 2013. The decrease in revenue is attributable to the fulfilment of a large radio order in first quarter fiscal 2012.
Revenues for the IDC Systems segment increased 104% from $3.2 million in first quarter fiscal 2012 to $6.6 million in first quarter fiscal 2013. The increase in IDC Systems revenue is attributable to the continued roll-out of the Direct-to-Home Broadcasting (DTH) project in Kenya announced in fiscal 2011.
“Whereas I am pleased with the renewal of the CFRT contract announced in March, 2012 and the orders from the Wananchi Group announced in February, 2012, our performance in the Products Group is a focus for improvement. IDC-s management and Board have been working to improve this performance in an effort to make Fiscal 2013 a year of transition for IDC as the company works at realigning its cost structure and executing on a new market and product strategy. Numerous steps in this respect have been taken so far, the benefits of which we believe will start to be seen in the near future. Our goal for the Products Group is sustainable profitability,” stated Frederick Godard, President and CEO, IDC.
“IDC-s strategy will continue to focus on existing market niches at the same time as it works at developing new market opportunities. An embodiment of that strategy was the recent launches of both IDC LASER and Digital Tattoo which target significantly larger market niches than previously. We will continue to work towards expanding our geographic reach. For example, we have recently announced new leadership and focus on the Asian markets. Finally, we have recently undertaken a restructuring aimed at realigning our cost structure and resource requirements in light of our new market/product strategy and the current economic circumstances.”
Conference Call
A conference call will be held on Wednesday, June 6, 2012 at 8:30 a.m. ET to discuss this announcement. The call may be accessed by dialing 1-613-788-3830 / 1-888-789-9572 with the pass code 1746780. A taped replay will be available until June 7, 2012 at 10:00 a.m. ET by dialing 1-800-408-3053 and reference the pass code 1689868. A live audio webcast of the conference call will be available at . The webcast will be archived here for 365 days.
About International Datacasting Corporation (IDC):
International Datacasting Corporation (TSX: IDC) is a global leader in digital content distribution for the world-s premiere broadcasters in radio, television and digital cinema. IDC offers a broad portfolio of advanced solutions including Pro Audio, Pro Video, Pro Cinema and Pro Data for implementing broadcast content contribution and distribution applications. IDC-s solutions and IDC Systems are in demand for radio and television networks, digital cinema, 3D live events, ad insertion, satellite news gathering, sport contribution, digital signage, and IPTV among others. IDC is headquartered in Ottawa, Canada, with regional offices in Arnhem, the Netherlands and in San Diego, California. IDC has installations in over 100 countries and service offices in Australia, Singapore and China with an international network of value-added partners and distributors.
Forward-Looking Statements
This release may contain forward-looking statements reflecting IDC-s objectives, estimates and expectations. Such statements may be marked by the use words such as “believe”, “anticipate”, “estimate”, “looking ahead”, “outlook” and “expect” as well as the conditional or future tense. Such statements involve risks and uncertainties and future results may differ materially from the Corporation-s expectations. Factors that might cause a material difference include, but are not limited to, competitive developments, risks associated with IDC-s growth, risks associated with any past or future acquisitions or divestitures, the development of the satellite datacasting market, regulatory risks, intellectual property infringement and other factors. Any forward-looking statements are provided to assist external shareholders in understanding IDC-s expectations as at the date of this release and may not be suitable for other purposes. IDC assumes no obligation to update these forward-looking statements to reflect events or circumstances after the date hereof, except as expressly required by law. More detailed information about potential factors that could affect IDC-s financial and business results is included in IDC-s Annual Information Form dated April 30, 2012 and the other public documents IDC files from time to time with Canadian securities regulatory authorities.
A complete set of financial statements and management-s discussion and analysis for the period ended April 30, 2012, FY2013 will be available at or on the Investor Information section of IDC-s website at .
Contacts:
International Datacasting Corporation
Christine Rozak
Director of Marketing and Communications
613-596-4120 x 2215
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