DALLAS, TX -- (Marketwired) -- 05/07/13 -- DG® (NASDAQ: DGIT)
•Total online segment revenues increase 10% •North America online segment revenues increase 20%
DG® (NASDAQ: DGIT), the leading global independent ad management and distribution platform, today reported financial results for the first quarter of 2013.
Consolidated revenue for the three months ended March 31, 2013 decreased 1% to $92.0 million, compared to $92.8 million in the same period of 2012. DG's first quarter loss from continuing operations was $1.1 million, or $0.04 per diluted share, compared to income from continuing operations of $1.3 million, or $0.05 per diluted share, in the prior year period. First quarter Adjusted EBITDA was $28.4 million, compared to $29.6 million reported in the first quarter of 2012.
"With double digit growth in the quarter, the online business is experiencing higher demand for our ad serving platform, with its unmatched analytics capabilities," said Neil Nguyen, CEO and President of DG. "Our ability to deliver innovative and effective multi-screen advertising aligns directly with the industry's growth in online video. We are confident about our unique positioning at the center of this video-centric advertising and expect continued momentum in our video and online business."
First quarter highlights include:
•The online segment generated revenue of $34.1 million, an increase of 10% from the year earlier period.
•The television segment generated revenue of $57.9 million, a decrease of 6% from the year earlier period.
•High Definition (HD) penetration for the quarter increased to 36% from 25% in the first quarter of 2012.
•Operating income included $2.7 million of acquisition, integration and other related expenses.
•Cash flow from operations increased to $21.6 million in the first quarter from $12.0 million in the prior year period.
•The Company repaid $51.2 million of outstanding debt under its credit facility; resulting in $403.1 million outstanding.
•As of March 31, 2013, DG reported $47.3 million of cash and short-term investments.
•Significant product advancements were announced in multiscreen ad management, including HTML5, mobile rich media, and interactive video.
•All products and services were unified under a new DG master brand in Q1 2013, presenting a single, comprehensive solution to customers and the marketplace.
First Quarter 2013 Financial Results Webcast
The Company's first quarter conference call will be broadcast live on the Internet at 5 p.m. ET on May 7, 2013. The webcast is open to the general public and all interested parties may access the live webcast on the Internet at the Company's web site at www.dgit.com. Please allow 15 minutes to register and download or install any necessary software.
Acquisitions / Discontinued Operations
The Company has completed two acquisitions that have impacted the comparability of the operating results presented. The results of operations for each of the following entities have been included in the Company's results since the acquisition date.
•Peer 39, Inc. ("Peer 39") on April 30, 2012 (included in online segment) •NCMG, Inc. ("North Country") on July 31, 2012 (included in television segment)
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