AXIA NETMEDIA J T.AXX

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Axia Reports Q3 2013 Results

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• Axia Netmedia

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CALGARY, Nov. 12, 2013 /CNW/ - Axia NetMedia Corporation (Axia) today reported its results for the three and nine month periods ended September 30, 2013.

Q3 2013 HIGHLIGHTS

• Customer connections grew 15% to 9,140 from 7,929 a year ago.
• Revenue across Axia's business units* totaled $26.5 million up 11% from $23.9 in Q3 2012.
• Business unit* EBITDA totalled $7.0 million up 14% from $6.2 million in Q3 2012. EBITDA, excluding the non-cash expenses in Corporate was $7.8 million.
• In France, Covage NGN Services revenue of $13.0 million grew 26% from $10.3 million in Q3 2012. EBITDA of $4.1 million is up 42% from $2.9 million in Q3 2012.
• In North America, NGN revenue continues to grow year over year and totaled $11.8 million an 11% increase from a year ago. EBITDA in North America remained stable.
• In Alberta, Axia's agreement with the Government of Alberta was extended from July 1, 2015 to June 30, 2018, on substantially the same terms as those governing the initial 10-year contract period.
• In Spain, Axia sold its 35% interest in Xarxa Oberta for $7.4 million (€5.3 million) on September 12, 2013. This resulted in a gain on sale of $1.1 million.
• In Singapore, Axia entered into an agreement to sell its 30% interest in OpenNet. Axia has invested $24.5 million (SGD$29.7 million) in OpenNet to date and will receive $31.0 million (SGD$37.8 million) resulting in a cash return of $6.5 million (SGD$8.1).
• Net income was a loss of $(2.3) million or $(0.03) per share compared to a profit of $3.3 million or $0.05 per share in Q3 2012. Net income, excluding the adjustments related to the sale of investments and the non-cash expenses in Corporate was $1.8 million or $0.03 per share.
  

Art Price, Chairman and CEO of Axia, commented "During the quarter, Axia continued to grow its customer base and NGN revenues in both France and Alberta. In Alberta, operations were sustained despite disruptions experienced during the major flood emergency. With continuing growth and completion of the significant transactions and agreements announced during the quarter, we are confident that Axia is strongly-positioned to maximize opportunities for the benefit of our shareholders".