Axia Releases Results for Q1FY12

  • EPS of $0.02 maintained - Continuing global growth offsets revenue loss in Alberta.
  • A normal course issuer bid was announced on November 8, 2011.
  • Covage expanded with network win in Urban Community of Nantes.

CALGARY, Nov. 18, 2011 /CNW/ - Axia NetMedia Corporation (Axia) today announced the results for its first quarter of fiscal 2012 for the period ended September 30, 2011.

Summary of Q1FY12 Consolidated Financial Information

($000s except per share amounts) Q1 2012 Q4 2011    
         
Revenue 17,997 19,237    
Operating income 770 2,260    
Income (loss) from investment under equity accounting 235 (147)    
Net income attributable to common shareholders 1,150 1,486    
Net income per share (diluted) 0.02 0.02    

Consolidated revenue for the first quarter was $18.0 million, a decrease of $1.2 million (6%) from $19.2 million for the prior quarter.  The decrease relates to the expiry of a contract with Bell in North America that had previously generated $1.3 million of revenue each quarter. Customer demand for Axia Real BroadbandTM grew 11% from 197 Gbps to 218 Gbps during Q1FY12. Net income attributable to common shareholders was $1.1 million ($0.02 per fully diluted share) as compared to $1.5 million ($0.02 per fully diluted share) for the prior quarter.

The unaudited interim condensed consolidated financial statements for the quarter ended September 30, 2011 and related Management's Discussion & Analysis (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 Axia's corporate website 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 www.axia.com.

Axia's Annual General and Special Meeting of Shareholders/Conference Call Scheduled

Axia's 2011 Annual General and Special Meeting of Shareholders will be held on Friday, November 18, 2011 at 3 p.m. (Mountain) in the Twin Room, Hôtel Le Germain, 899 Centre Street S.W., Calgary, Alberta. It will be live webcast on Friday, November 18, 2011 at 5 p.m. (Eastern) and 3 p.m. (Mountain) at:

http://www.newswire.ca/en/webcast/viewEvent.cgi?eventID=3684560

Click on the "listen to webcast" icon on the screen.

A replay will be available via Axia's website www.axia.com or at:

http://www.newswire.ca/en/webcast/viewEvent.cgi?eventID=3684560

from 8 p.m. (ET) Friday, November 18, 2011 to midnight (ET) Friday, November 25, 2011, or through the webcast archives at http://www.newswire.ca.

A conference call for the investment community will be held Monday, November 21, 2011 at 3 p.m. (Eastern) and 1 p.m. (Mountain). Axia Chairman and CEO Art Price, Axia North America President and Executive Vice-President Murray Sigler, and Chief Financial Officer Alan Hartslief will participate.

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. A live webcast (listen only mode) of the conference call will be available at:

http://www.newswire.ca/en/webcast/viewEvent.cgi?eventID=3699740

A replay of the conference call will be available at (416) 849-0833 or 1-855-859-2056, passcode 19381291 from 6 p.m. (ET) Monday, November 21, 2011 to midnight (ET) Monday, November 28, 2011, or through the webcast archives at http://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". 

 

 

SOURCE Axia NetMedia Corporation

For further information:

For further information, please visit Axia's website at www.axia.com, or contact:

Dawn Tinling
VP, Investor Relations and Communications
Axia NetMedia Corporation
(403) 538-4074
dawn.tinling@axia.com

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Axia NetMedia Corporation

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