|By Marketwired .||
|January 16, 2014 05:00 PM EST||
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.
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 Solution, LASER Targeted Ad Insertion Platform and Digital Tattoo 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.
International Datacasting Corporation
+1 613 596 4120 ext. 2211
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...
May. 6, 2016 07:00 PM EDT Reads: 1,405
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...
May. 6, 2016 06:15 PM EDT Reads: 1,430
As enterprises around the world struggle with their digital transformation efforts, many are finding that innovative digital teams are moving much faster than their hidebound IT organizations. Rather than struggling to convince traditional IT to get with the digital program, executives are taking advice from IT research firm Gartner, and encouraging existing IT to continue in their desultory ways. However, many CIOs are realizing the dangers of following Gartner’s advice. The central challenge ...
May. 6, 2016 06:00 PM EDT Reads: 354
Much of the value of DevOps comes from a (renewed) focus on measurement, sharing, and continuous feedback loops. In increasingly complex DevOps workflows and environments, and especially in larger, regulated, or more crystallized organizations, these core concepts become even more critical. In his session at @DevOpsSummit at 18th Cloud Expo, Andi Mann, Chief Technology Advocate at Splunk, will show how, by focusing on 'metrics that matter,' you can provide objective, transparent, and meaningfu...
May. 6, 2016 06:00 PM EDT Reads: 1,261
trust and privacy in their ecosystem. Assurance and protection of device identity, secure data encryption and authentication are the key security challenges organizations are trying to address when integrating IoT devices. This holds true for IoT applications in a wide range of industries, for example, healthcare, consumer devices, and manufacturing. In his session at @ThingsExpo, Lancen LaChance, vice president of product management, IoT solutions at GlobalSign, will teach IoT developers how t...
May. 6, 2016 06:00 PM EDT Reads: 868
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...
May. 6, 2016 05:30 PM EDT Reads: 843
The pace of innovation, vendor lock-in, production sustainability, cost-effectiveness, and managing risk… In his session at 18th Cloud Expo, Dan Choquette, Founder of RackN, will discuss how CIOs are challenged finding the balance of finding the right tools, technology and operational model that serves the business the best. He will discuss how clouds, open source software and infrastructure solutions have benefits but also drawbacks and how workload and operational portability between vendors...
May. 6, 2016 05:00 PM EDT Reads: 359
Cloud Object Storage is effectively infinitely scalable and boasts the lowest total costs. But cloud SLAs and T&Cs are traditionally optimized for huge customers like Netflix, so applications demanding better confidentiality or higher availability typically can’t reap the benefits of public cloud storage. In his session at 18th Cloud Expo, Don Martin, CTO of Security First Corp, will provide an overview of innovative technologies available today – secret sharing and information dispersal algori...
May. 6, 2016 05:00 PM EDT Reads: 374
We're entering the post-smartphone era, where wearable gadgets from watches and fitness bands to glasses and health aids will power the next technological revolution. With mass adoption of wearable devices comes a new data ecosystem that must be protected. Wearables open new pathways that facilitate the tracking, sharing and storing of consumers’ personal health, location and daily activity data. Consumers have some idea of the data these devices capture, but most don’t realize how revealing and...
May. 6, 2016 04:00 PM EDT Reads: 886
As the rapid adoption of containers continues, companies are finding that they lack the operational tools to understand the behavior of applications deployed in these containers, and how to identify issues in their application infrastructure. For example, how are multiple containers within an application impacting each other’s performance? If an application’s service is degraded, which container is to blame? In the case of an application outage, what was the root cause of the outage?
May. 6, 2016 04:00 PM EDT Reads: 1,214
When it comes to IoT in the enterprise, namely the commercial building and hospitality markets, a benefit not getting the attention it deserves is energy efficiency, and IoT's direct impact on a cleaner, greener environment when installed in smart buildings. Until now clean technology was offered piecemeal and led with point solutions that require significant systems integration to orchestrate and deploy. There didn't exist a 'top down' approach that can manage and monitor the way a Smart Buildi...
May. 6, 2016 03:15 PM EDT Reads: 304
Cloud-based NCLC (No-code/low code) application builder platforms empower everyone in the organization to quickly build applications and executable processes that broaden access, deepen collaboration, and enhance transparency for all team members. Line of business owners (LOBO) and operations managers know best their part of the business and their processes. IT departments are beginning to leverage NCLC platforms to empower and enable LOBOs to lead the innovation, transform the organization, an...
May. 6, 2016 03:00 PM EDT Reads: 350
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...
May. 6, 2016 02:15 PM EDT Reads: 921
There is an ever-growing explosion of new devices that are connected to the Internet using “cloud” solutions. This rapid growth is creating a massive new demand for efficient access to data. And it’s not just about connecting to that data anymore. This new demand is bringing new issues and challenges and it is important for companies to scale for the coming growth. And with that scaling comes the need for greater security, gathering and data analysis, storage, connectivity and, of course, the...
May. 6, 2016 01:45 PM EDT Reads: 1,379
The IETF draft standard for M2M certificates is a security solution specifically designed for the demanding needs of IoT/M2M applications. In his session at @ThingsExpo, Brian Romansky, VP of Strategic Technology at TrustPoint Innovation, will explain how M2M certificates can efficiently enable confidentiality, integrity, and authenticity on highly constrained devices.
May. 6, 2016 01:00 PM EDT Reads: 1,424