International Datacasting Corporation (TSX:IDC) has announced its financial results for the three-month period ended April 30, 2009. All figures are stated in Canadian dollars. The Q1 fiscal 2010 highlights...

• Revenue was $5.1 million, compared to $5.6 million recorded in Q1 fiscal 2009
• Gross margin was 49 percent, up from 47 percent last year
• EBITDA was $(0.6), compared to $(0.0) in Q1 fiscal 2009
• Net loss $(0.8) million or $(0.01) per share, compared to net loss of $(0.2) million or $0.00 per share in Q1 fiscal 2009

To read the entire financial report, select his direct link.

IDC has also announced that the Company's Shareholders Rights Plan Agreement (the "Rights Plan"), previously enacted on January 9, 2009, terminated following IDC's annual and special meeting of shareholders held earlier today. The request for shareholder approval of the Rights Plan set forth in IDC's Management Proxy Circular dated April 30, 2009 was withdrawn from a formal vote at the meeting due to insufficient shareholder support, as evidenced by proxies returned to the Corporation and its transfer agent and registrar. IDC's board of directors has also approved the termination of the Rights Plan with effect as of and from today's date.