CALGARY, May 14, 2013 /CNW/ - Axia NetMedia Corporation (Axia) today reported its results for the three months ended March 31, 2013.
Q1 2013 FINANCIAL AND OPERATIONAL HIGHLIGHTS
Customer connections grew 22% to 8,974 from 7,373.
Revenue across Axia's business units* totaled $26.3 million up 12% from
$23.5 million a year ago.
Business unit* EBITDA totalled $6.9 million up 43% from $4.8 million in
In France, Covage NGN Services revenue of $11.9 million grew 23% from
$9.6 million in Q1 2012. Growing revenue and stable operating costs
resulted in EBITDA of $3.4 million up 118% from $1.5 million in Q1
Axia's share of OpenNet's net income was $3.2 million or $0.05 per share
in Q1 2013 compared to $1.0 million or $0.02 per share in Q1 2012.
OpenNet had 325,213 end users compared to 133,000 a year ago.
EPS of $0.10 compares to $0.09 in Q1 2012. Q1 2013 EPS includes $0.03
from a fibre sale in Alberta. Q1 2012 EPS includes $0.05 related to a
gain from a purchase transaction in France.
* On January 1, 2013, Axia adopted International Financial Reporting
Standards (IFRS) 11, Joint arrangements, which changed the reporting
for Axia's Covage business unit from proportionate consolidation to
equity accounting. To aid in the analysis of the business, Axia has
provided a business unit summary which includes 100% of the financial
and operational results of Axia North America, Covage and Xarxa
Oberta. Please see the unaudited condensed consolidated interim
financial statements and related Management's Discussion & Analysis (MD&A) for more details.
The unaudited condensed consolidated interim financial statements for
the three months ended March 31, 2013 and related 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 ir.axia.com 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 ir.axia.com.
Notice of Conference Call
Axia will hold a conference call with the investment community on
Tuesday, May 14, 2013 at 9 a.m. (Eastern), 7 a.m. (Mountain). 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. In addition, a
live webcast (listen only mode) of the conference call will be
available at: http://www.newswire.ca/en/webcast/detail/1147937/1253077
A replay of the conference call will be available at (416) 849-0833 or 1-855-859-2056, passcode 46622797 from 6 p.m. (Eastern) Tuesday, May 14, 2013 to
midnight (Eastern) Tuesday, May 21, 2013 or through the webcast
archives at www.newswire.ca.
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
This News Release contains forward-looking statements, including,
without limitation, statements containing the words "should",
"believe", "anticipate", "may", "plan", "will", "continue", "intend",
"expect", "estimate" and other similar expressions which constitute
"forward-looking information" within the meaning of applicable Canadian
securities laws. These statements are based on our current
expectations, estimates, forecasts and assumptions about the operating
environment, economies and markets in which we operate and are subject
to important assumptions, risks and uncertainties that are difficult to
predict. Examples of these statements would include those where Axia
forecasts its success and timing in winning new NGN business, the
timing of completion and estimated total costs of our networks, the
revenues and operating costs associated with these networks over time,
and Axia's ability to generate future cash flows and avail itself of
other financing alternatives given current market conditions. The
assumptions, risks and uncertainties that could cause actual results to
differ materially from the forward-looking information, include, but
are not limited to, changes in customer markets, changes in demand for
our services, our inability to deliver services in a timely and cost
efficient manner, technological change, general economic conditions and
other risks detailed from time to time in our ongoing filings with the
Canadian securities regulatory authorities, including those in our
Annual Information Form, which filings can be found at www.sedar.com. Given these assumptions, risks and uncertainties, readers are
cautioned not to place undue reliance on such forward-looking
statements. Unless otherwise required by applicable securities laws, we
undertake no obligation to publicly update or revise any
forward-looking statements either as a result of new information,
future events or otherwise.
SOURCE: Axia NetMedia Corporation
For further information:
please visit Axia's website at www.axia.com, or contact:
Axia NetMedia Corporation