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
Father business cycles and digital consumers are forcing enterprises to respond faster to customer needs and competitive demands. Successful integration of DevOps and Agile development will be key for business success in today’s digital economy. In his session at DevOps Summit, Pradeep Prabhu, Co-Founder & CEO of Cloudmunch, covered the critical practices that enterprises should consider to seamlessly integrate Agile and DevOps processes, barriers to implementing this in the enterprise, and pr...
Eighty percent of a data scientist’s time is spent gathering and cleaning up data, and 80% of all data is unstructured and almost never analyzed. Cognitive computing, in combination with Big Data, is changing the equation by creating data reservoirs and using natural language processing to enable analysis of unstructured data sources. This is impacting every aspect of the analytics profession from how data is mined (and by whom) to how it is delivered. This is not some futuristic vision: it's ha...
Let’s face it, embracing new storage technologies, capabilities and upgrading to new hardware often adds complexity and increases costs. In his session at 18th Cloud Expo, Seth Oxenhorn, Vice President of Business Development & Alliances at FalconStor, will discuss how a truly heterogeneous software-defined storage approach can add value to legacy platforms and heterogeneous environments. The result reduces complexity, significantly lowers cost, and provides IT organizations with improved effi...
With the Apple Watch making its way onto wrists all over the world, it’s only a matter of time before it becomes a staple in the workplace. In fact, Forrester reported that 68 percent of technology and business decision-makers characterize wearables as a top priority for 2015. Recognizing their business value early on, FinancialForce.com was the first to bring ERP to wearables, helping streamline communication across front and back office functions. In his session at @ThingsExpo, Kevin Roberts...
Data-as-a-Service is the complete package for the transformation of raw data into meaningful data assets and the delivery of those data assets. In her session at 18th Cloud Expo, Lakshmi Randall, an industry expert, analyst and strategist, will address: What is DaaS (Data-as-a-Service)? Challenges addressed by DaaS Vendors that are enabling DaaS Architecture options for DaaS
One of the bewildering things about DevOps is integrating the massive toolchain including the dozens of new tools that seem to crop up every year. Part of DevOps is Continuous Delivery and having a complex toolchain can add additional integration and setup to your developer environment. In his session at @DevOpsSummit at 18th Cloud Expo, Miko Matsumura, Chief Marketing Officer of Gradle Inc., will discuss which tools to use in a developer stack, how to provision the toolchain to minimize onboa...
Cognitive Computing is becoming the foundation for a new generation of solutions that have the potential to transform business. Unlike traditional approaches to building solutions, a cognitive computing approach allows the data to help determine the way applications are designed. This contrasts with conventional software development that begins with defining logic based on the current way a business operates. In her session at 18th Cloud Expo, Judith S. Hurwitz, President and CEO of Hurwitz & ...
It's easy to assume that your app will run on a fast and reliable network. The reality for your app's users, though, is often a slow, unreliable network with spotty coverage. What happens when the network doesn't work, or when the device is in airplane mode? You get unhappy, frustrated users. An offline-first app is an app that works, without error, when there is no network connection.
The principles behind DevOps are not new - for decades people have been automating system administration and decreasing the time to deploy apps and perform other management tasks. However, only recently did we see the tools and the will necessary to share the benefits and power of automation with a wider circle of people. In his session at DevOps Summit, Bernard Sanders, Chief Technology Officer at CloudBolt Software, explored the latest tools including Puppet, Chef, Docker, and CMPs needed to...
The cloud promises new levels of agility and cost-savings for Big Data, data warehousing and analytics. But it’s challenging to understand all the options – from IaaS and PaaS to newer services like HaaS (Hadoop as a Service) and BDaaS (Big Data as a Service). In her session at @BigDataExpo at @ThingsExpo, Hannah Smalltree, a director at Cazena, will provide an educational overview of emerging “as-a-service” options for Big Data in the cloud. This is critical background for IT and data profes...
SYS-CON Events announced today that Men & Mice, the leading global provider of DNS, DHCP and IP address management overlay solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. The Men & Mice Suite overlay solution is already known for its powerful application in heterogeneous operating environments, enabling enterprises to scale without fuss. Building on a solid range of diverse platform support,...
Advances in technology and ubiquitous connectivity have made the utilization of a dispersed workforce more common. Whether that remote team is located across the street or country, management styles/ approaches will have to be adjusted to accommodate this new dynamic. In his session at 17th Cloud Expo, Sagi Brody, Chief Technology Officer at Webair Internet Development Inc., focused on the challenges of managing remote teams, providing real-world examples that demonstrate what works and what do...
With the proliferation of both SQL and NoSQL databases, organizations can now target specific fit-for-purpose database tools for their different application needs regarding scalability, ease of use, ACID support, etc. Platform as a Service offerings make this even easier now, enabling developers to roll out their own database infrastructure in minutes with minimal management overhead. However, this same amount of flexibility also comes with the challenges of picking the right tool, on the right ...
As enterprises work to take advantage of Big Data technologies, they frequently become distracted by product-level decisions. In most new Big Data builds this approach is completely counter-productive: it presupposes tools that may not be a fit for development teams, forces IT to take on the burden of evaluating and maintaining unfamiliar technology, and represents a major up-front expense. In his session at @BigDataExpo at @ThingsExpo, Andrew Warfield, CTO and Co-Founder of Coho Data, will dis...
In most cases, it is convenient to have some human interaction with a web (micro-)service, no matter how small it is. A traditional approach would be to create an HTTP interface, where user requests will be dispatched and HTML/CSS pages must be served. This approach is indeed very traditional for a web site, but not really convenient for a web service, which is not intended to be good looking, 24x7 up and running and UX-optimized. Instead, talking to a web service in a chat-bot mode would be muc...