Click here to close now.




















Welcome!

News Feed Item

International Datacasting Provides Update on Company Progress

OTTAWA, ONTARIO -- (Marketwired) -- 01/16/14 -- International Datacasting Corporation (TSX:IDC) ("IDC" or the "Company") today released an update on the Company's expected performance for the fourth quarter of Fiscal 2014, as well as the progress achieved against the action plan resulting from the Company's strategic review conducted in the second half of Fiscal 2014.

For the fourth quarter of Fiscal 2014, IDC continues to expect operating results to be improved relative to the third quarter. Revenues remain soft relative to historical levels, and the Company expects to incur an operating loss for the quarter and for the full Fiscal year. Inventory levels are stabilizing as IDC has adjusted production levels according to demand, and good progress is being made in collecting outstanding receivables.

Regarding the action plan detailed in the Management Discussion and Analysis released in early December 2013, the following progress has been achieved.


--  Sales: New processes introduced in Q4 are increasing forecast accuracy
    and tracking progress of deals towards closure. The first shipments of
    STAR Gen-2 were achieved during Fiscal Q4. As previously announced,
    updated LASER software is planned to be available for sale starting in
    the first quarter of Fiscal 2015.  
--  Products: Hardware design has been completed for the first deliverables
    of IDC's new product architecture, and key elements of the software are
    being prototyped in order to validate their design. Updated products are
    expected to be available for demonstration by the second quarter of
    Fiscal 2015, with the potential for volume shipments before the end of
    Fiscal 2015.  
--  Leadership: Steven Archambault and Steeve Huin, IDC's new Chief
    Financial Officer and Vice-President of Product Management,
    respectively, started in their roles in December 2013, completing the
    leadership team restructuring announced last month.  
--  Quality: Focussed attention to field issues has resulted in full
    customer acceptance of a major network upgrade delivered to a European
    customer in Fiscal 2013, and in collection of the outstanding receivable
    associated with that delivery.  
--  Cost reduction: IDC has initiated a number of actions to control costs
    and conserve working capital. These actions focus on reducing product
    costs, discretionary expenses, and overheads, as opposed to cutting
    needed investments in R&D and Sales. 

During the first half of Fiscal 2015, IDC plans to offer employees the opportunity to exchange a percentage of regular base salary for IDC Shares. This will reduce cash compensation requirements in this period, as well as increasing alignment of employee and shareholder interests. We are pleased to report that all members of the IDC executive team have expressed their intent to participate in the program, which the Company plans to offer to all full-time employees worldwide.

Commenting on the progress achieved on the Company's action plan, IDC's President and CEO Doug Lowther stated, "The actions we're taking are intended to not only improve IDC's short-term results, but also to put in place solid foundations for more robust and predictable performance in the future. We believe that IDC has the technology, the people, and the customers to achieve progressive improvement in results over Fiscal 2015."

The disclosure in this news release has been reviewed and approved by IDC's Board of Directors and is based on information available to the Company as of the date of this release.

Upcoming Shareholder Communications

IDC plans to announce Q4 and full-year Fiscal 2014 results, and to provide a further update on the Company's performance and business outlook, during the first week of April 2014 (three weeks earlier than last year's results announcement). A public conference call will be held at that time to permit investors and analysts to ask questions of IDC's management.

About International Datacasting Corporation:

International Datacasting Corporation (TSX:IDC) is a global leader in digital content distribution for the world's premiere broadcasters in radio, television, data and digital cinema. The Company's products and solutions are in demand for radio and television networks, targeted ad insertion, digital cinema, 3D live events, satellite newsgathering, sports contribution, VOD, and IPTV. IDC is headquartered in Ottawa, Canada, with regional offices in Arnhem, the Netherlands and in San Diego, California. The Company has installations in over 100 countries and service offices in Thailand and Singapore, and an international network of value-added partners and resellers. For more information visit: www.datacast.com.

Forward-Looking Statements:

This press release contains certain information that constitutes "forward-looking information" and/or "forward-looking statements" within the meaning of applicable Canadian securities laws, including statements regarding the Company's expectations with respect to operating results for the fourth quarter of Fiscal 2014 and incurring an operating loss for the fourth quarter and for the full Fiscal year, management's beliefs with respect to results in the next Fiscal year and the Company's plans with respect to further shareholder communications. All forward-looking information and forward-looking statements are necessarily based on a number of estimates and assumptions that are inherently subject to significant business, economic and competitive uncertainties and contingencies. The material assumptions used to develop the forward looking-statements made in this release include management's perceptions of current conditions and expected future developments, management's knowledge of the current credit, interest rate and liquidity conditions affecting the Company as well as other considerations that are believed to be appropriate in the circumstances.

All statements other than statements which are reporting results as well as statements of historical fact are forward-looking statements that may involve a number of known and unknown risks, uncertainties and other factors; many of which are beyond the ability of IDC to control or predict.

Forward-looking statements are generally identifiable by use of the words "may", "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "plan or "project" or the negative of these words or other variations on these words or comparable terminology. The Company considers the assumptions upon which the forward-looking statements contained in this release are based to be reasonable, based on information currently available to it, but there can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Risk factors that might cause actual results to differ materially include, but are not limited to: competitive developments; expectations regarding new product initiatives and timing, including the STAR Pro Audio(TM) Solution, LASER(TM) Targeted Ad Insertion Platform and Digital Tattoo(TM) DTH Over IP Gateway; IDC's dependence on the development and growth of the satellite services market; a lengthy and variable sales cycle for IDC's products and services; IDC's reliance on a small number of customers for a large percentage of its revenue; and expectations with respect to the sufficiency of its financial resources and liquidity. Further, any incorrect identification of, or failure or delay in identifying, areas that require attention in IDC's business as part of the Company's strategic review, or inability to successfully address areas requiring increased focus in accordance with IDC's action plan, could materially adversely affect the Company's business, financial conditions, and results of operations as well as other key indicators.

More detailed information about potential factors that could affect IDC's financial and business results and the material assumptions upon which the forward-looking statements are based is included in the public documents IDC files from time to time with Canadian securities regulatory authorities (including, without limitation, IDC's Fiscal 2013 MD&A dated April 29, 2013 and Q3 Fiscal 2014 MD&A dated December 10, 2013) and which are available on SEDAR at www.sedar.com.

Except as expressly required by applicable law, we undertake no obligation to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise. Forward-looking statements are provided to assist external stakeholders in understanding IDC's expectations as at the date of this release and may not be appropriate for other purposes. Readers are cautioned not to place undue reliance on such statements.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Skeuomorphism usually means retaining existing design cues in something new that doesn’t actually need them. However, the concept of skeuomorphism can be thought of as relating more broadly to applying existing patterns to new technologies that, in fact, cry out for new approaches. In his session at DevOps Summit, Gordon Haff, Senior Cloud Strategy Marketing and Evangelism Manager at Red Hat, discussed why containers should be paired with new architectural practices such as microservices rathe...
As more and more data is generated from a variety of connected devices, the need to get insights from this data and predict future behavior and trends is increasingly essential for businesses. Real-time stream processing is needed in a variety of different industries such as Manufacturing, Oil and Gas, Automobile, Finance, Online Retail, Smart Grids, and Healthcare. Azure Stream Analytics is a fully managed distributed stream computation service that provides low latency, scalable processing of ...
Everyone talks about continuous integration and continuous delivery but those are just two ends of the pipeline. In the middle of DevOps is continuous testing (CT), and many organizations are struggling to implement continuous testing effectively. After all, without continuous testing there is no delivery. And Lab-As-A-Service (LaaS) enhances the CT with dynamic on-demand self-serve test topologies. CT together with LAAS make a powerful combination that perfectly serves complex software developm...
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.
Any Ops team trying to support a company in today’s cloud-connected world knows that a new way of thinking is required – one just as dramatic than the shift from Ops to DevOps. The diversity of modern operations requires teams to focus their impact on breadth vs. depth. In his session at DevOps Summit, Adam Serediuk, Director of Operations at xMatters, Inc., will discuss the strategic requirements of evolving from Ops to DevOps, and why modern Operations has begun leveraging the “NoOps” approa...
As more intelligent IoT applications shift into gear, they’re merging into the ever-increasing traffic flow of the Internet. It won’t be long before we experience bottlenecks, as IoT traffic peaks during rush hours. Organizations that are unprepared will find themselves by the side of the road unable to cross back into the fast lane. As billions of new devices begin to communicate and exchange data – will your infrastructure be scalable enough to handle this new interconnected world?
In today's digital world, change is the one constant. Disruptive innovations like cloud, mobility, social media, and the Internet of Things have reshaped the market and set new standards in customer expectations. To remain competitive, businesses must tap the potential of emerging technologies and markets through the rapid release of new products and services. However, the rigid and siloed structures of traditional IT platforms and processes are slowing them down – resulting in lengthy delivery ...
In their Live Hack” presentation at 17th Cloud Expo, Stephen Coty and Paul Fletcher, Chief Security Evangelists at Alert Logic, will provide the audience with a chance to see a live demonstration of the common tools cyber attackers use to attack cloud and traditional IT systems. This “Live Hack” uses open source attack tools that are free and available for download by anybody. Attendees will learn where to find and how to operate these tools for the purpose of testing their own IT infrastructu...
SYS-CON Events announced today that IceWarp will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. IceWarp, the leader of cloud and on-premise messaging, delivers secured email, chat, documents, conferencing and collaboration to today's mobile workforce, all in one unified interface
Whether you like it or not, DevOps is on track for a remarkable alliance with security. The SEC didn’t approve the merger. And your boss hasn’t heard anything about it. Yet, this unruly triumvirate will soon dominate and deliver DevSecOps faster, cheaper, better, and on an unprecedented scale. In his session at DevOps Summit, Frank Bunger, VP of Customer Success at ScriptRock, will discuss how this cathartic moment will propel the DevOps movement from such stuff as dreams are made on to a prac...
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome,” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
Consumer IoT applications provide data about the user that just doesn’t exist in traditional PC or mobile web applications. This rich data, or “context,” enables the highly personalized consumer experiences that characterize many consumer IoT apps. This same data is also providing brands with unprecedented insight into how their connected products are being used, while, at the same time, powering highly targeted engagement and marketing opportunities. In his session at @ThingsExpo, Nathan Trel...
SYS-CON Events announced today that G2G3 will exhibit at SYS-CON's @DevOpsSummit Silicon Valley, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Based on a collective appreciation for user experience, design, and technology, G2G3 is uniquely qualified and motivated to redefine how organizations and people engage in an increasingly digital world.
The Internet of Things (IoT) is about the digitization of physical assets including sensors, devices, machines, gateways, and the network. It creates possibilities for significant value creation and new revenue generating business models via data democratization and ubiquitous analytics across IoT networks. The explosion of data in all forms in IoT requires a more robust and broader lens in order to enable smarter timely actions and better outcomes. Business operations become the key driver of I...
It’s been proven time and time again that in tech, diversity drives greater innovation, better team productivity and greater profits and market share. So what can we do in our DevOps teams to embrace diversity and help transform the culture of development and operations into a true “DevOps” team? In her session at DevOps Summit, Stefana Muller, Director, Product Management – Continuous Delivery at CA Technologies, answered that question citing examples, showing how to create opportunities for ...