NeuLion Reports $39.7M in Total Revenue for Fiscal 2011
(firmenpresse) - PLAINVIEW, NY -- (Marketwire) -- 03/16/12 -- NeuLion, Inc. (TSX: NLN), the true end-to-end technology service provider for delivering live and on-demand content to any Internet-enabled device, today announced financial results for the three months and year ended December 31, 2011 (all amounts are in U.S. dollars). Revenue grew to $39.7 million for the year ended December 31, 2011 primarily due to strong organic growth.
Revenue increased by $6.5 million, or 20%, as compared to a year ago.
Non-GAAP Adjusted EBITDA Loss (as defined below) improved by $4.1 million, or 37%, as compared to a year ago, and Consolidated Net Loss improved by $2.8 million, or 16%, as compared to a year ago.
Revenue decreased by $0.4 million, or 4%, as compared to the same period a year ago.
Non-GAAP Adjusted EBITDA Loss (as defined below) improved by $0.2 million, or 18%, as compared to the same period a year ago, and Consolidated Net Loss improved by $0.1 million, or 3%, as compared to the same period a year ago.
"Management is pleased with the year-over-year improvement in the company's revenue," said Nancy Li, Chief Executive Officer of NeuLion, Inc. "We continue to build on our unique strengths in the new and evolving IPTV marketplace. Our customers' recognition of NeuLion's technological leadership in this rapidly expanding field has put NeuLion at the forefront of online video delivery. We fully expect our customers' requirements, and NeuLion's role, to continue to grow as the adoption of TV over the Internet accelerates."
Interactive video experience delivering live and on-demand video
Developed, for Maple Leaf Sports and Entertainment Ltd., the Real Sports Xbox app (NeuLion's first application specifically for the Xbox marketplace) to deliver live and on-demand games for Leafs TV, NBA TV Canada and GOL TV Canada.
Unveiled all-access UFC app for Android that allows fans to watch live pay-per-view events, weigh-ins and press conferences and to score the fight in real-time.
Athletic portal and online destination for fans
Designed and delivered the first live streaming iPad app for Texas A&M Athletics and launched five similar apps shortly thereafter for Duke University, Louisiana State University, University of Oregon, Iowa State University and Mississippi State University.
Upgraded James Madison University and Dartmouth College to our HD Adaptive Streaming video player for the Fall Sports season.
Multi-device content delivery
Announced partnership with SENSIO to deliver video-on-demand content in 3D.
Revenue was $39.7 million, as compared to $33.2 million for the year ended December 31, 2010, marking a year-over-year increase of $6.5 million, or 20%.
Cost of revenue, exclusive of depreciation and amortization, was $16.4 million (41% of revenue), as compared to $14.4 million (43% of revenue) for the year ended December 31, 2010, marking a year-over-year improvement of 2%.
Consolidated net loss was $14.4 million, which includes $7.5 million of non-cash and/or non-operating charges, netting a non-GAAP Adjusted EBITDA loss of $6.9 million, as compared to a consolidated net loss of $17.2 million, which includes $6.2 million of non-cash and/or non-operating charges, netting a non-GAAP Adjusted EBITDA loss of $11.0 million for the year ended December 31, 2010, marking a year-over-year improvement in non-GAAP Adjusted EBITDA loss of $4.1 million, or 37%. Non-cash and/or non-operating charges consist of depreciation and amortization, stock-based compensation, unrealized gain on derivative, loss on dissolution of majority-owned subsidiary, investment income, deferred income taxes and foreign exchange gain/loss.
Revenue was $10.7 million, as compared to $11.1 million for the three months ended December 31, 2010, marking a period-over-period decrease of $0.4 million, or 4%.
Cost of revenue, exclusive of depreciation and amortization, was $4.5 million (42% of revenue), as compared to $4.6 million (41% of revenue) for the three months ended December 31, 2010, marking a period-over-period change of 1%.
Consolidated net loss was $2.9 million, which includes $2.0 million of non-cash and/or non-operating charges, netting a non-GAAP Adjusted EBITDA loss of $0.9 million, as compared to a consolidated net loss of $3.0 million, which includes $1.9 million of non-cash and/or non-operating charges, netting a non-GAAP Adjusted EBITDA loss of $1.1 million for the three months ended December 31, 2010, marking a period-over-period improvement in non-GAAP Adjusted EBITDA loss of $0.2 million, or 18%.
As of December 31, 2011 we had $12.3 million in cash and cash equivalents.
We report non-GAAP Adjusted EBITDA loss because it is a key measure used by management to evaluate our results and make strategic decisions about our company, including potential acquisitions. Non-GAAP Adjusted EBITDA loss represents consolidated net loss before interest, income taxes, depreciation and amortization, stock-based compensation, unrealized gain/loss on derivatives, investment income, non-controlling interests, loss on dissolution of majority-owned subsidiary and foreign exchange gain/loss. This measure does not have any standardized meaning prescribed by U.S. generally accepted accounting principles (U.S. GAAP) and therefore is unlikely to be comparable to the calculation of similar measures used by other companies, and should not be viewed as an alternative to measures of financial performance or changes in cash flows calculated in accordance with U.S. GAAP.
The below table reconciles our non-GAAP Adjusted EBITDA loss to its most directly comparable U.S. GAAP measure, consolidated net loss:
Founded in 2000, NeuLion, Inc. (TSX: NLN) offers the true end-to-end solution for delivering live and on-demand content to any Internet-enabled device. NeuLion enables content owners and distributors, cable operators and telecommunications companies to capitalize on consumer demand for viewing video content on PCs, smartphones, iPads and other similar devices. NeuLion's customers include major entertainment, sports, global content and news companies. NeuLion is based in Plainview, NY. For more information about NeuLion, visit .
Forward-looking statements involve significant risk, uncertainties and assumptions. Although the forward-looking statements contained in this release are based upon what management believes to be reasonable assumptions, we cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this release and we assume no obligation to update or revise them to reflect new events or circumstances, except as required by law. Many factors could cause our actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including: our ability to develop and execute on our business plan, including further diversifying our customer base; continuing to invest in and expand our sports-related business; our ability to increase revenue; general economic and market segment conditions; our customers' subscriber levels; the financial health of our customers; our ability to pursue and consummate acquisitions in a timely manner; our continued relationships with our customers; our ability to negotiate favorable terms for contract renewals; competitor activity; product capability and acceptance rates; technology changes; regulatory changes; foreign exchange risk; interest rate risk; and credit risk. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. A more detailed assessment of the risks that could cause actual results to materially differ from current expectations is contained in Item 1A, "Risk Factors," in our Annual Report on Form 10-K for the fiscal year ended December 31, 2011, which is available on and filed on .
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Datum: 16.03.2012 - 11:18 Uhr
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