Q3 Fiscal 2010 Financial Summary
- Revenue was $5.8 million, compared to $8.1 million in Q3 fiscal 2009.
- Gross margin was 40 percent, compared to 47 percent last year. EBITDA1 was $0.3 million, compared to $ 0.7 million in Q3 fiscal 2009.
- Net earnings were $0.1 million, compared to $0.6 million in Q3 fiscal 2009.
Year-to-Date Fiscal 2010 Financial Summary
- Revenue was $16.4 million, compared to $22.6 million for the same period of fiscal 2009.
- Gross margin was 44 percent, compared to 45 percent last year.
- EBITDA was $(0.4) million, compared to $ 1.9 million for the same period of fiscal 2009.
- Net income was $(3.7) million, or $(0.08) per share, compared to $1.4 million, or $0.02 per share, last year.
"Our acquisition of the Tiernan product lines in the quarter was a significant step in further growing the Company and enhancing our competitive position in the expanding broadcast video market," said Ron Clifton, President and CEO, International Datacasting Corporation. "We are excited about the accelerated growth opportunity the transaction creates for our broadcast equipment and systems business, as we now offer more complete end-to-end solutions. During the quarter, we successfully integrated our regional sales, customer service and marketing teams, and we also consolidated our manufacturing operations, strengthening our overall organizational infrastructure. We have bid on numerous Tiernan product-related projects, and won several new contracts in the quarter."