Espial, an Ottawa based local digital TV and IPTV software and solutions supplier, reported its third quarter results late last week. Unfortunately for the firm, the report was negative with a drop in revenues causing the company’s profit margins to shrink. Espial stated an 18 per cent decrease in total revenues to $3.1 million from the $3.8 million reported last year at the same time. The Canadian firm also reported a net loss of $778,920 for the third quarter of 2012 which is more than double the $316,049 reported in the third quarter of 2011. Espial’s also listed its earnings before interest, taxes, depreciation and amortization (EBITA) at a loss of $183,730 and listed its cash stock pile at $9.96 million.
Jaison Dolvane, president and CEO of the 50-person company, stated in a press release that, “The competitive environment between new over-the-top video service providers like Netflix and the incumbent cable, satellite and telecom providers continues to accelerate. This creates long-term opportunities for Espial’s products and services.” He also said that the negative economic conditions of Europe caused a smaller numbers from pay-TV customers. He added that, “Our pipeline of cable and telecom operators remains strong in North America, Europe and Asia and we remain focused on leveraging this into 2013.”
Espial had a strategic review in 2011 and chose not to sell and the company looked like it had turn around in the second quarter of 2012 that to decreasing net losses. Another piece of good news came when it was announced last week that the Ottawa firm had installed an on-demand video platform for Taiwan’s biggest cable television operators, KBRO.
Source: Ottawa Business Journal
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