Espial Reports 2013 First Quarter Results May 09, 2013
OTTAWA, May 9, 2013 /CNW/ - Espial Group Inc. ("Espial" or the "Company"), (TSX: ESP), a leader in the delivery of on-demand TV software and services, today announced its first quarter financial results for the three month period ended March 31, 2013.
Espial Highlights
Completed acquisition of ANT, which further advances Espials market leadership in HTML5 user experience across set-top boxes and multi-screen devices.
Secured new customers including Cisco, Samsung and Humax through the acquisition of ANT.
Signed a partnership agreement with WiLAN to pursue licensing of certain Espials patents related to video-over-IP technology.
Received grant of patent by the USPTO for fast channel change technology
Financial Summary
For the three-month period ended March 31, 2013, the Company reported revenues of $2.5 million compared with revenues of $3.7 million for the three months ended March 31, 2012. Earnings before interest, foreign exchange, taxes, stock compensation, depreciation and amortization (EBITDA) for the first quarter of fiscal 2013 was a loss of $2.5 million compared with an income of $0.1 million in the first quarter of fiscal 2012. Included in the quarters EBITDA was a restructuring charge of $1.1 million related to the acquisition of ANT. Net loss for the quarter was $3.3 million or $0.23 per share, compared with a net loss of $0.4 million last year, or $0.03 per share.
"Were pleased to close the ANT acquisition and excited to have the team join Espial" said Jaison Dolvane, CEO, Espial. "We are now working to integrate the companies and expect to complete this over the next 2 quarters. The acquisition of ANT provides us with a strong set of customers and increased engineering capability to deliver an advanced HTML5 user experience across set-top boxes and multiscreen devices. In Q1, we also continued our initiatives to increase the depth of our intellectual property and develop licensing programs through our partnership with WiLAN. We believe that as service providers and Smart TV manufacturers migrate to IP video services, Espials products and intellectual property are well positioned to play a key role in the industry. Our customer pipeline remains strong and the new products we release later this year will differentiate us further."
"As a result of the ANT acquisition closing mid-way through the quarter, our first quarter results did not include $993,000 of revenue that would have been included had the acquisition occurred at the beginning of the quarter. In addition, we recorded a $1.1 million one-time acquisition related restructuring charge" said Carl Smith, Chief Financial Officer. "As we noted in our last two conference calls and press releases, we continue to experience a slower pace of roll-outs from our existing European customers. We believe this is related to the prevailing economic challenges in Europe and may continue for some time. Europe notwithstanding, we are seeing increased activity in North America and Asia as those economies gain strength."
Q1 Financial Results
First quarter revenues were $2,542,059 compared with revenues of $3,650,536 in the same period a year ago. First quarter software license and royalty revenues were $1,389,445 compared to $1,908,236 in the first quarter of fiscal 2012. Professional services for the first quarters of 2013 and 2012 were $247,819 and $962,025 respectively. Maintenance and support revenues for the first quarter were $904,795 compared to $780,275 last year.
Gross margin for the first quarter of fiscal 2013 was 78% compared with 77% in the first quarter of fiscal 2012.
Operating expenses in the first quarter of fiscal 2013 were $4,899,423 compared to $3,045,360 in the first quarter of fiscal 2012.
Earnings before interest, foreign exchange, taxes, stock compensation, depreciation and amortization (EBITDA) for the first quarter of fiscal 2013 was a loss of $2,460,496 compared to income of $112,758 in fiscal 2012. Included in the loss was a restructuring charge of $1,049,222 related to the acquisition of ANT.
Net loss, which includes non-cash items like depreciation, goodwill and intangibles in the first quarter was $3,272,169 compared to a loss of $358,603 last year.
Cash and cash equivalents on March 31, 2013 was $4,912,034.
A complete set of financial statements and managements discussion and analysis for the period ended March 31, 2013 will be available at http://www.sedar.com.
Conference Call
The Company will be hosting a conference call to discuss the Q1 2013 financial results on May 10, 2013 at 10:30 a.m. Eastern Time (ET). The phone number to join the results discussion is:
Toll free line (Canada/US) - 1 888-390-0605
Toll line (international/local) - 1 416-764-8609
The playback for the call will be available until 11:59pm ET on June 9, 2013, at the following numbers and passcode:
Toll line: 1 416-764-8677, Passcode: 653198
Toll-free line: 1-888-390-0541, Passcode: 653198
About Espial (www.espial.com)
Espial is a leading supplier of digital TV and IPTV software and solutions to cable MSOs and telecommunications operators as well as consumer electronics manufacturers. Espials middleware, video-on-demand, and browser products power a diverse range of pay-TV and Internet TV business models. Over 35 million licenses of its patented software are in use across the world. Espial is headquartered in Ottawa, Canada and has offices in the United States, Europe, and Asia. Visit www.espial.com or contact us via phone at 1 613 230 4770.
Forward Looking Statement
This press release contains information that is forward looking information with respect to Espial within the meaning of Section 138.4(9) of the Ontario Securities Act (forward looking statements) and other applicable securities laws. In some cases, forward-looking information can be identif
Most recent headlines
05/01/2027
Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be ...
04/08/2026
Dalet, a leading technology and service provider for media-rich organizations, t...
04/07/2026
April 7 2026, 19:00 (PDT) Detective Conan: Fallen Angel of the Highway Opens in...
04/06/2026
Sony Electronics is introducing the SRG-AS10, a 4K 60p-compatible PTZ auto-frami...
04/06/2026
This recent grad from Spring, TX, led creative-video output for the Aggies' men's basketball team last season and has been producing video and creating ...
04/06/2026
For the first time at a women's golf major, every player in the field will r...
04/06/2026
Three Panasonic PT-RQ45 40,000-lumen 3-Chip DLP projectors made their first live...
04/06/2026
Bitmovin and Akamai have announced a collaboration with NRJ Group, a French mult...
04/06/2026
Telestream will exhibit at InfoComm 2026 (Booth N7952), demonstrating media work...
04/06/2026
Sony has announced the development of RIALTO 65, a 65mm format image sensor block for the VENICE 2 digital cinema camera, targeting release in the first half of...
04/06/2026
KOKUSAI DENKI Electric America will exhibit at InfoComm 2026 (Booth N8025, June ...
04/06/2026
Bell Media's TSN and RDS are the exclusive Canadian broadcasters of FIFA Wor...
04/06/2026
The Challenge: Receiving Heavy Media Files From Road Games Quickly and ReliablyT...
04/06/2026
MASV, a managed file transfer platform used in broadcast and live sports product...
04/06/2026
NESN has announced the appointment of Fahad Haider as Vice President of Operations and Engineering. Haider returns to NESN, where he previously served as Vice P...
04/06/2026
David J. Halberstam, who spent almost 50 years in sports as a broadcaster and an executive, died June 2 after a years-long battle with brain cancer.
Over his l...
04/06/2026
Although collegiate production programs are tasked with delivering high-quality ...
04/06/2026
California studio, two production trucks, global distribution system are combine...
04/06/2026
New global program empowers and supports storytellers through scriptwriting course and access to industry experts
TikTok and Sundance Institute today announce...
04/06/2026
Steinberg DAWs now boast in-depth Tonalic integration
Celemony's innovative virtual session musician plug-in has just received an update that brings ARA...
04/06/2026
Get Hands-On With Over 20 Mic Brands
GearExpo UK is fast approaching, and if you've been looking for a chance to check out some new mics, then you'r...
04/06/2026
Combos feature new Amplifier Intelligence engine
Positive Grid's latest release sees the company introduce two new combo amplifiers that promise to offe...
04/06/2026
Is Your Job Making You Work this June?
4 June, 2026
Media releases
SBS Launches the World Cup Watchers' Rights Association to Stand Up For Australians&...
04/06/2026
Statement regarding unauthorised use of SBS logos on third party social content
4 June, 2026
Media releases
SBS has become aware of social media posts in c...
04/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
04/06/2026
Bitmovin, a leading provider of video streaming infrastructure, and Akamai, the cybersecurity and cloud computing company that powers and protects business onli...
04/06/2026
American Underground (AU), the Startup Hub of the South and a community of mor...
04/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
04/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
04/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
04/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
04/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
04/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
04/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
04/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
04/06/2026
NVIDIA and Microsoft Reinvent Windows PCs for the Age of Personal AI
Brie Clayton June 3, 2026
0 Comments
RTX Spark - a 1-Petaflop Superchip, the Full...
04/06/2026
Inside the Peaky Blinders: The Immortal Man Grade
Brie Clayton June 3, 2026
0 Comments
Simone Grattarola discusses shaping the look in DaVinci Resolve...
04/06/2026
Cine Gear Expo Announces 2026 Awards of Excellence Recipients
Brie Clayton June 3, 2026
0 Comments
Ed Lachman ASC, Caleb Deschanel ASC, and M. David M...
04/06/2026
St. Vincents Live with Orchestra Tour to Feature Berklee Alum Ruby Plume Berklee alumni St. Vincent and Ruby Plume will appear on the same bill across seven d...
04/06/2026
Back to All News
All the Truth in My Lies Coming to Netflix on August 28
Entertainment
04 June 2026
GlobalSpain
Link copied to clipboard
Download the imag...
04/06/2026
Back to All News
Larry Tanz, VP of Content, EMEA, Delivers a Keynote Speech at ...
04/06/2026
Back to All News
Turn Your Living Room into a Stadium With the New FIFA World ...
04/06/2026
Keeping conversations real on LinkedIn Published on Jun 4, 2026 Categories: Product News
LinkedIn Corporate Communications
Share
LinkedIn
Facebook ...
04/06/2026
BackStory follows four Irish young people as they travel back to their parents' homelands
Modern Irish identity is enriched by cultures and influences from...
04/06/2026
June's forecast with GeForce NOW: 100% chance of gaming.
GeForce NOW is lining up new adventures for the month, from big-name blockbusters to quirky indies...
03/06/2026
SES and Viva, Mexico's ultra low-cost airline, have launched multi-orbit satellite inflight connectivity on Viva's Airbus aircraft. A total of 60 A320s ...
03/06/2026
The College Football Playoff, ESPN, and TNT Sports have announced kick times and...
03/06/2026
RED Digital Cinema will exhibit at Cine Gear Expo 2026 (Booth 33, June 5-6, Universal Studios Lot), hosting three panels and hands-on product demonstrations.
P...
03/06/2026
Roku has announced the Soccer Zone, a dedicated hub for FIFA World Cup 2026 content available across the United States, Canada, Mexico, Brazil, Colombia, Argent...
Espial Reports 2013 First Quarter Results May 09, 2013
