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
In his session at 18th Cloud Expo, Sagi Brody, Chief Technology Officer at Webair Internet Development Inc., will focus on real world deployments of DDoS mitigation strategies in every layer of the network. He will give an overview of methods to prevent these attacks and best practices on how to provide protection in complex cloud platforms. He will also outline what we have found in our experience managing and running thousands of Linux and Unix managed service platforms and what specifically c...
In his session at @ThingsExpo, Chris Klein, CEO and Co-founder of Rachio, will discuss next generation communities that are using IoT to create more sustainable, intelligent communities. One example is Sterling Ranch, a 10,000 home development that – with the help of Siemens – will integrate IoT technology into the community to provide residents with energy and water savings as well as intelligent security. Everything from stop lights to sprinkler systems to building infrastructures will run ef...
Redis is not only the fastest database, but it has become the most popular among the new wave of applications running in containers. Redis speeds up just about every data interaction between your users or operational systems. In his session at 18th Cloud Expo, Dave Nielsen, Developer Relations at Redis Labs, will shares the functions and data structures used to solve everyday use cases that are driving Redis' popularity.
Many private cloud projects were built to deliver self-service access to development and test resources. While those clouds delivered faster access to resources, they lacked visibility, control and security needed for production deployments. In their session at 18th Cloud Expo, Steve Anderson, Product Manager at BMC Software, and Rick Lefort, Principal Technical Marketing Consultant at BMC Software, will discuss how a cloud designed for production operations not only helps accelerate developer...
Manufacturers are embracing the Industrial Internet the same way consumers are leveraging Fitbits – to improve overall health and wellness. Both can provide consistent measurement, visibility, and suggest performance improvements customized to help reach goals. Fitbit users can view real-time data and make adjustments to increase their activity. In his session at @ThingsExpo, Mark Bernardo Professional Services Leader, Americas, at GE Digital, will discuss how leveraging the Industrial Interne...
The increasing popularity of the Internet of Things necessitates that our physical and cognitive relationship with wearable technology will change rapidly in the near future. This advent means logging has become a thing of the past. Before, it was on us to track our own data, but now that data is automatically available. What does this mean for mHealth and the "connected" body? In her session at @ThingsExpo, Lisa Calkins, CEO and co-founder of Amadeus Consulting, will discuss the impact of wea...
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
Struggling to keep up with increasing application demand? Learn how Platform as a Service (PaaS) can streamline application development processes and make resource management easy.
Increasing IoT connectivity is forcing enterprises to find elegant solutions to organize and visualize all incoming data from these connected devices with re-configurable dashboard widgets to effectively allow rapid decision-making for everything from immediate actions in tactical situations to strategic analysis and reporting. In his session at 18th Cloud Expo, Shikhir Singh, Senior Developer Relations Manager at Sencha, will discuss how to create HTML5 dashboards that interact with IoT devic...
Up until last year, enterprises that were looking into cloud services usually undertook a long-term pilot with one of the large cloud providers, running test and dev workloads in the cloud. With cloud’s transition to mainstream adoption in 2015, and with enterprises migrating more and more workloads into the cloud and in between public and private environments, the single-provider approach must be revisited. In his session at 18th Cloud Expo, Yoav Mor, multi-cloud solution evangelist at Cloudy...
Artificial Intelligence has the potential to massively disrupt IoT. In his session at 18th Cloud Expo, AJ Abdallat, CEO of Beyond AI, will discuss what the five main drivers are in Artificial Intelligence that could shape the future of the Internet of Things. AJ Abdallat is CEO of Beyond AI. He has over 20 years of management experience in the fields of artificial intelligence, sensors, instruments, devices and software for telecommunications, life sciences, environmental monitoring, process...
The demand for organizations to expand their infrastructure to multiple IT environments like the cloud, on-premise, mobile, bring your own device (BYOD) and the Internet of Things (IoT) continues to grow. As this hybrid infrastructure increases, the challenge to monitor the security of these systems increases in volume and complexity. In his session at 18th Cloud Expo, Stephen Coty, Chief Security Evangelist at Alert Logic, will show how properly configured and managed security architecture can...
We’ve worked with dozens of early adopters across numerous industries and will debunk common misperceptions, which starts with understanding that many of the connected products we’ll use over the next 5 years are already products, they’re just not yet connected. With an IoT product, time-in-market provides much more essential feedback than ever before. Innovation comes from what you do with the data that the connected product provides in order to enhance the customer experience and optimize busi...
Unless you don’t use the internet, don’t live in California, or haven’t been paying attention to the recent news… you should be aware that self-driving cars are on their way to becoming a reality. I have seen them – they are real. If you believe in the future reality of self-driving cars, then continue reading on. If you don’t believe in the future possibilities, then I am not sure what to do to convince you other than discuss the very real changes that will roll out with the consumer producti...
A critical component of any IoT project is the back-end systems that capture data from remote IoT devices and structure it in a way to answer useful questions. Traditional data warehouse and analytical systems are mature technologies that can be used to handle large data sets, but they are not well suited to many IoT-scale products and the need for real-time insights. At Fuze, we have developed a backend platform as part of our mobility-oriented cloud service that uses Big Data-based approache...