IDC Posts Profitable Quarter, Fiscal Year
[Satellite Today – 4-15-08] International Datacasting Corp. reported increased growth for both the fiscal year 2008 and the fourth quarter, the company announced April 14.
IDC posted a 9 percent increase in revenue for the quarter ending Jan. 31, from 6.9 million CAD ($6.8 million) in 2007 to 7.5 million CAD ($7.4 million). The company also reported increased net income of 2 million CAD ($2 million) for the fiscal year, compared to 900,000 CAD ($886,787) last year.
For the year, IDC had 24.7 million CAD ($24.3 million) in revenue, a 39 percent increase over 17.8 million CAD ($17.5 million) in fiscal year 2007. The company had 2.6 million CAD ($2.6 million) in net income, compared to 300,000 CAD ($295,595) in fiscal year 2007.
"It is a pleasure to report another strong year of growth and profitability," said Ron Clifton, president and CEO of IDC in a statement. "Our revenue growth of 39 percent was entirely organic, and our total revenues for the year were nearly triple those of just four years ago, in spite of an ongoing strengthening of the Canadian dollar over that timeframe. This growth can be attributed to both repeat business from our existing clients and sales to new customers. We have also launched a number of critical new products and applications in the professional broadcast radio, IPTV and digital cinema arenas. Our strengthened balance sheet along with our continued investment in new product development and growing intellectual property portfolio positions us well going forward."