Axia Reports Q2 2013 Results
CALGARY, Aug. 13, 2013 /CNW/ - Axia NetMedia Corporation (Axia) today reported its results for the three and six month periods ended June 30, 2013.
Q2 2013 HIGHLIGHTS
- Customer connections grew 14% to 9,041 from 7,926 a year ago.
- Revenue across Axia's business units* totaled $26.7 million up 17% from $22.8 in Q2 2012.
- Business unit* EBITDA totalled $7.5 million up 45% from $5.2 million in Q2 2012.
- In France, Covage NGN Services revenue of $12.2 million grew 34% from $9.1 million in Q2 2012. Growing revenue and stable operating costs resulted in EBITDA of $4.7 million up 79% from $2.6 million in Q2 2012.
- In North America, revenue continues to grow consistently and totaled $12.5 million an 8% increase from a year ago. EBITDA of $4.4 million grew 2% year-over-year.
- In Singapore, OpenNet's end user customers grew to 381,995 up 113% from 179,601 a year ago resulting in revenue growth of 92%. This revenue growth offset the cost of the first quarter of maintenance and duct fees, maintaining EBITDA at the Q2 2012 level.
- Net income was a loss of $0.4 million or ($0.01) per share compared to a profit of $0.6 million or $0.01 per share in Q2 2012. Net income, excluding a non-cash tax adjustment in OpenNet, was $1.2 million or $0.02 per share.
* Axia's business unit summary includes 100% of the financial and operational results of Axia North America and Covage. Please see the unaudited condensed consolidated interim financial statements and related Management's Discussion & Analysis (MD&A) for more details.