International Datacasting Corporation (TSX:IDC) has reported announced its financial results for the three- and 12-month periods ended January 31, 2010. All figures are in Canadian dollars unless otherwise stated.

Fiscal 2010 Financial Summary

• Revenue was $23.3 million, compared to $29.1 million for fiscal 2009
• Gross margin was 43 percent, compared to 47 percent last year
• EBITDA(1) was negative ($1.5 million), compared to $2.6 million for fiscal 2009
• Net loss was $6.6 million, or $0.12 per share, compared to earnings of $3.0 million, or $0.05 per share, for fiscal 2009

Q4 Fiscal 2010 Financial Summary

• Revenue was $6.9 million, compared to $6.4 million in Q4 fiscal 2009
• Gross margin was 40%, compared to 57% in Q4 fiscal 2009
• EBITDA(1) was negative ($1.1 million), compared to $ 0.7 million in Q4 fiscal 2009
• Net loss was $2.9 million, or $.05 per share, compared to earnings of $1.6 million, or $.03 per share, in Q4 fiscal 2009

"Fiscal 2010 was a challenging year for IDC as the economic downturn led to an industry-wide reduction in capital expenditures," said Frederick Godard, President and CEO, International Datacasting Corporation. "I believe that IDC's core technology offering, which was strengthened through the purchase of additional product lines last year, offers significant potential for growth and we are actively pursuing these opportunities. Going forward, we are focused on profitability and we are taking measures to increase our gross margins and to further streamline our operations in order to improve operational efficiencies." "We are uniquely positioned for the market opportunities that are available to us, including the roll out of digital cinema, IPTV and 3D live events."