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
06/10/2025
France T l visions, France's leading broadcaster, has received the 2025 EBU ...
04/09/2025
Monumental Sports & Entertainment (MSE), in collaboration with Dalet, has been a...
30/08/2025
WASHINGTON The Federal Communications Commission has adopted its FY 2025 Regulatory Fees Order that establishes the regulatory fee rates for the broadcast stati...
29/08/2025
Australian Red Cross and SBS launch training to help workplaces in the fight aga...
29/08/2025
The National Film and Video Foundation (NFVF), an agency of the Department of Sp...
29/08/2025
L3Harris Technologies has concentrated decades of expertise across the entire enterprise to develop affordable and reliable best-of-breed solutions to rapidly c...
29/08/2025
BURBANK, Calif. The CW Network and the Pac-12 Conference have announced a new media rights deal that will extend their broadcast partnership beginning with the ...
29/08/2025
NEW YORK Gracenote has released a new analysis of its global video dataset showing that the number of FAST channels grew nearly 14% from Q1 2025 and 76% since 2...
29/08/2025
SAN JOSE, Calif. Harmonic has announced a series of improvements to its live sports streaming solution that the company said will improve fan engagement, protec...
29/08/2025
NEW YORK and LOS ANGELES Fox Corp. and YouTube TV last night announced a renewal of the full portfolio of Fox networks, including Fox News Channel, Fox Business...
29/08/2025
Budapest, Hungary, August 2025 - The integration of Microsoft Teams Rooms (MTR) with Lightware's Taurus universal matrix switchers delivers a new level of f...
29/08/2025
Frequency, the engine behind many of the world's best-known streaming television channels, today announced it will launch Studio Live, a next-generation uni...
29/08/2025
In an era when AI and cyber resilience are essential, Scality will mark the 10th anniversary of Scality Day on October 16, 2025 in Paris. This flagship global e...
29/08/2025
Disguise's In-House Creative and Technical Teams Pre-Visualised, Programmed and Delivered Content for the Experience, All Powered by EX 3+
Technology solu...
29/08/2025
Disguise will be demonstrating the latest workflows for TV, film and live events on a number of partner booths at the show
Disguise, the industry-leading tech...
29/08/2025
STOCKHOLM, Sweden Accedo will showcase Accedo Compose, its AI agent-powered modular orchestration layer that assists streaming providers in transitioning client...
29/08/2025
LOS ANGELES Cineverse has announced that it is working with Xperi to bring four of its streaming channels to automobiles for the first time as part of the DTS A...
29/08/2025
DALLAS & ATLANTA Gray Media has announced an agreement with the sports streaming service Victory+ to simulcast 17 Dallas Stars NHL games in 15 television market...
29/08/2025
NEW YORK AND CULVER CITY Comcast NBCUniversal and Amazon have announced new and extended distribution agreements that will expand the content available on their...
29/08/2025
FOOTHILL RANCH, Calif. RED Digital Cinema will feature its Cine-Broadcast Module supporting live broadcast workflows during IBC2025, Sept. 12-15, at the RAI Ams...
29/08/2025
29 Aug 2025
Kyivstar Rings Opening Bell at Nasdaq Marking Landmark Listing and ...
29/08/2025
More than half of all NFL games live on Sky for the first timeFriday 29 August 2025
Sky Sports has announced a new three-year deal with the NFL, extending its ...
29/08/2025
Back to All News
RIV4LRIES: The Trailer of the New Series With Samuele Carrino ...
29/08/2025
Get ready for an inspiring and emotional insight into the world of competitive Irish dancing with My Story: Tomi Champion of the World airing on RT 2 this monda...
29/08/2025
RT has today announced that David McCullagh is to be the new presenter of RT Radio 1's flagship Today programme, which airs every weekday at 10am, replaci...
28/08/2025
By Kristin Feeley, Director, Documentary Film & Artist Programs
If you want to tell untold stories, if you want to give voice to the voiceless, you've got ...
28/08/2025
Directed by Steven Bognar and Julia Reichert, Sundance Institute-supported Amer...
28/08/2025
Corridos have been a cornerstone of M sica Mexicana for generations, telling stories rooted in everyday life. Now, a new chapter is taking shape: motivational c...
28/08/2025
Los corridos han sido un pilar de la M sica Mexicana durante generaciones, contando historias enraizadas en la vida cotidiana. Ahora, un nuevo cap tulo est tom...
28/08/2025
Earlier this month, we promised our Verano Forever party would bring the heat, a...
28/08/2025
L3Harris will provide the Polish F-16V fleet with the Viper Shield electronic warfare system as part of an upgrade program....
28/08/2025
Bilbao, August 26, 2025 - AgileTV, an international television and video technol...
28/08/2025
Ken Wilkinson is an Emmy Awards nominated New York audio engineer who specialises in production sound mixing for film, commercial, episodic and documentary work...
28/08/2025
NEW YORK FuboTV today announced that it will launch Fubo Sports, a skinny bundle that focuses on sports with a subscription price of $56 monthly....
28/08/2025
NEVADA City, Calif. At IBC2025, Sept. 12-15 at the RAI Amsterdam, Telestream will debut its new Global Ingest strategy, introducing a next-generation ingest arc...
28/08/2025
Dr. Rhoda Bernard Releases Groundbreaking Debut Book on Accessible Arts Educatio...
28/08/2025
TAG Video Systems, the leader in software-based IP end-to-end workflow monitoring, deep probing, and real-time visualization, has named Oliver Gappa as Sales Di...
28/08/2025
AI-based voice enhancement will be among a series of innovations making their IBC 2025 debut on the DHD stand B46 in Hall 8 at the RAI Amsterdam Convention Cent...
28/08/2025
Telef nica Servicios Audiovisuales (TSA), the leading system integrator and service provider in the media sector in Spain, with the support of Appear, the globa...
28/08/2025
To fully immerse sailing fans in the world's biggest offshore yacht race, production company, Optical Media turned to LiveU's On-site Production solutio...
28/08/2025
Working with Calrec on its most recent overhaul, radio and television broadcaster, WNED has migrated to a fully IP infrastructure with multiple Type R consoles,...
28/08/2025
Cleeng, the Subscriber Retention Management (SRM ) inventor, has unveiled Cleeng Pro, the first-ever direct-to-consumer (D2C) subscription management platform t...
28/08/2025
Zixi, the industry leader in live broadcast-quality video over IP, today announced that French media distribution platform OKAST has selected Zixi to enable rel...
28/08/2025
Solution offers a streamlined, speaker-free architecture to optimize integration with premium external loudspeakers and advanced loudness metering
Nixer Pro Au...
28/08/2025
Cinegy, the premier provider of software-defined television technology, has announced a strategic partnership with Vision One Touch Film Production Services L.L...
28/08/2025
Telestream, a global leader in media workflow technologies, will debut its new Global Ingest strategy at IBC2025, introducing a next-generation ingest architect...
28/08/2025
Tier 1 operator selects Broadpeak to power high-performance, unified CDN solution across Norway, Sweden and Finland
Broadpeak, a leader in streaming and moneti...
28/08/2025
Leading video software provider, Synamedia, today announced that 24 Frames Digital, one of India's leading live event streaming service providers, has chose...
28/08/2025
Meet VisualOn at IBC2025: See What's Next in AI-Powered Video Streaming Join VisualOn at IBC2025 and discover how our AI-driven Optimizer and advanced media...
Espial Reports 2013 First Quarter Results May 09, 2013
