PLAINVIEW, NY -- (Marketwire) -- 03/08/13 -- NeuLion, Inc. (TSX: NLN), a leading enabler and provider of live and on-demand content to Internet-connected devices, today announced financial results for the three months and year ended December 31, 2012 (all amounts are in U.S. dollars).
For the three months ended December 31, 2012:
•Non-GAAP Adjusted EBITDA (as defined below) was $0.8 million, an improvement of $1.7 million, as compared to the same period a year ago, and Consolidated Net Loss improved by $2.0 million, or 69%, as compared to the same period a year ago.
•Cost of revenue, exclusive of depreciation and amortization, as a percentage of total revenue, improved to 31% in the fourth quarter of 2012, as compared to 42% in the fourth quarter of 2011.
•Revenue was $10.5 million in the fourth quarter of 2012, as compared to $10.7 million in the fourth quarter of 2011, a decrease of $0.2 million, or 2%.
For the year ended December 31, 2012:
•Non-GAAP Adjusted EBITDA (as defined below) was $(3.3) million, an improvement of $3.6 million, or 52%, as compared to the same period a year ago, and Consolidated Net Loss improved by $4.3 million, or 30%, as compared to the same period a year ago.
•Cost of revenue, exclusive of depreciation and amortization, as a percentage of total revenue, improved to 35% in fiscal 2012, as compared to 41% in fiscal 2011.
•Revenue was $39.0 million in fiscal 2012, as compared to $39.7 million in fiscal 2011, a decrease of $0.7 million, or 2%.
"Management is extremely pleased with the positive results in the fourth quarter. The Company's substantial improvement in quarter-over-quarter Non-GAAP Adjusted EBITDA was a result of our continued emphasis on closely monitoring costs and de-emphasizing non-core business initiatives," said Nancy Li, Chief Executive Officer of the Company. "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."
Fourth Quarter Operational Highlights:
Interactive video experience delivering live and on-demand video
•Delivered live and on-demand streaming of select games throughout the 2013 International Ice Hockey Federation World Junior Championship Tournament from Russia. •Partnered with the Barclays Center to live stream the Brooklyn Hoops Holiday Invitational; the first ever live video of a sporting event at Barclays. •Launched the Portland Trailblazers live streaming experience for fans to watch all game broadcasts. •Extended partnership with the Professional Bowlers Association for additional multi-year terms to power PBA Xtra Frames. •The American Hockey League implemented NeuLion's Video Replay System into their officiating process for the start of the 2012-2013 season to allow referees to review goals during live games.
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