AXIA NETMEDIA J T.AXX

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[thedave2006]

Axia Reports Q3 2014 Results

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Axia Reports Results for the three and nine months ended September 30, 2014

CALGARY, Nov. 6, 2014 /CNW/ -

• Business unit revenue of $31.3 million grew 18% from $26.5 million for Q3 2013. This increase was driven primarily by increasing market penetration as customer connections grew to 10,846 at September 30, 2014, up 19% from 9,140 a year ago.
• Business unit EBITDA grew 26% to $8.9 million from $7.0 million for the same quarter last year.
• Covage revenue of $16.4 million grew 16% over the same period last year. EBITDA of $5.8 million was up 43% year over year.
• North American revenue of $14.8 million grew 20% and recurring revenue of $12.9 million grew 10% over the same quarter last year. EBITDA was $3.9 million compared to $5.4 million last year due to higher variable costs and continued investment in new business development.
• Axia's planned $20.0 million investment in Alberta to build 1,526 km of fibre between 27 larger communities in the province is on track and on budget. As of September 30, 2014, 68% of the fibre required to complete the community interconnect grid has been deployed with the remainder of the fibre construction anticipated to be completed before the end of the year. The installation of the electronics will be completed in 2015.
• IFRS net income of $0.9 million or $0.01 per share compared to a loss of $2.3 million or $(0.03) per share for the same quarter last year. Covage IFRS net income for Q3 was positive for the first time at $0.4 million.
• The balance sheet remained strong with $32.6 million of cash and $4.6 million of debt which includes $3.2 million drawn on Axia's $20.0 million credit facility.

[pabaloo]

This company is going to explode in the next few years. Think about 18% increase in revenue and 26% increase in ebitda. Not many companies can claim those numbers. This is more a brick and mortat company and the bricks are almost done being layed. Soon the profits will come flowing in. Fantastic numbers froma fantastic company, great work. WOW

[the_ocotillo]

Much like you said, every quarter builds upon the last, brick by brick. For most investors the stock is boring, no bells and whistles or firecrackers going off. I kind of like it, just dependable growth of an essential service maybe decades to come. But 2015 will be an interesting year with both the Alberta expansion and some potential nice wins in France (Bretagne would be a huge win, 1.2m homes)