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
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Customer connections grew 14% to 9,041 from 7,926 a year ago.
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Revenue across Axia's business units* totaled $26.7 million up 17% from
$22.8 in Q2 2012.
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Business unit* EBITDA totalled $7.5 million up 45% from $5.2 million in
Q2 2012.
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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.
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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.
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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.
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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.
The unaudited condensed consolidated interim financial statements for
the three and six month periods ended June 30, 2013 and related MD&A
have been reviewed and approved by Axia's Audit Committee and Board of
Directors. Axia recognizes that the majority of its investors are now
accessing Axia's corporate and financial information either through
pushed news services, directly from ir.axia.com or SEDAR. Thus, Axia
has prepared this truncated news release to alert investors to its
results and that a more detailed explanation and analysis is readily
available in the MD&A. These reports have been filed on SEDAR at www.sedar.com and also posted at ir.axia.com.
Notice of Conference Call
Axia will hold a conference call with the investment community on
Tuesday, August 13, 2013 at 9 a.m. (Eastern), 7 a.m. (Mountain). To
participate in the conference call, please dial (647) 427-7450 in Toronto and internationally. If you are connecting from other parts
of Canada, dial 1-888-231-8191. Please call ten minutes prior to the start of the call. In addition, a
live webcast (listen only mode) of the conference call will be
available at:
http://www.newswire.ca/en/webcast/detail/1147937/1253077
A replay of the conference call will be available at (416) 849-0833 or 1-855-859-2056, passcode 46622797 from 6 p.m. (Eastern) Tuesday, August 13, 2013 to
midnight (Eastern) Tuesday, August 20, 2013 or through the webcast
archives at www.newswire.ca.
About Axia
Axia sells services over fibre optic communications infrastructure in
jurisdictions that have implemented the Axia NGN Solution. To date,
Axia has networks in Alberta, France, Singapore, Spain and
Massachusetts. Axia trades on the Toronto Stock Exchange under the
symbol "AXX".
This News Release contains forward-looking statements, including,
without limitation, statements containing the words "should",
"believe", "anticipate", "may", "plan", "will", "continue", "intend",
"expect", "estimate" and other similar expressions which constitute
"forward-looking information" within the meaning of applicable Canadian
securities laws. These statements are based on our current
expectations, estimates, forecasts and assumptions about the operating
environment, economies and markets in which we operate and are subject
to important assumptions, risks and uncertainties that are difficult to
predict. Examples of these statements would include those where Axia
forecasts its success and timing in winning new NGN business, the
timing of completion and estimated total costs of our networks, the
revenues and operating costs associated with these networks over time,
and Axia's ability to generate future cash flows and avail itself of
other financing alternatives given current market conditions. The
assumptions, risks and uncertainties that could cause actual results to
differ materially from the forward-looking information, include, but
are not limited to, changes in customer markets, changes in demand for
our services, our inability to deliver services in a timely and cost
efficient manner, technological change, general economic conditions and
other risks detailed from time to time in our ongoing filings with the
Canadian securities regulatory authorities, including those in our
Annual Information Form, which filings can be found at www.sedar.com. Given these assumptions, risks and uncertainties, readers are
cautioned not to place undue reliance on such forward-looking
statements. Unless otherwise required by applicable securities laws, we
undertake no obligation to publicly update or revise any
forward-looking statements either as a result of new information,
future events or otherwise.
SOURCE Axia NetMedia Corporation
