QuStream Corporation Reports 2009 Third Quarter Results
09 Noviembre 2009 - 4:32PM
Marketwired
QuStream Corporation ("QuStream" or the "Company") (TSX VENTURE:
QVC), an innovative global provider of high-definition (HD)
broadcast solutions, today announced its third quarter fiscal 2009
results.
Revenue for the third quarter of fiscal 2009 was US $3.1 million
compared to US $4.8 million in the same period in fiscal 2008, a
decrease of 37%. Revenue for the nine months ended September 30,
2009 was US $9.0 million, down 37% from the US $14.3 million during
the same period last year.
Net loss for the third quarter of fiscal 2009 was US $0.4
million or ($0.02) per share compared to a net loss of US $3.2
million or ($0.14) per share for the same period last year. Net
loss for the nine months ended September 30, 2009 was US $5.4
million or ($0.23) per share compared to a net loss of US $4.5
million or ($0.19) per share for the same period last year.
"The third quarter of fiscal 2009 saw a modest positive cash
flow from operations in a challenging environment," stated
QuStream's President, Howard Sutton. "The Company remains focused
on executing its strategic initiatives to return to growth and
profitability".
The 2009 Third Quarter Financial Statements and Management's
Discussion & Analysis have been filed on SEDAR at
www.sedar.com.
About QuStream Corporation:
QuStream is a global provider of integrated solutions to the
creators and distributors of professional video content including
the high-definition television and professional audio/video market
segments. QuStream has operations in Huntsville Alabama, Toronto
Canada and Beijing China. For more information, visit QuStream at
www.qustream.com.
Forward-Looking Statements:
The statements made in this press release that are not
historical facts contain forward-looking information that involves
risk and uncertainties. All statements, other than statements of
historical facts, which address QuStream's expectations, should be
considered forward-looking statements. Such statements are based on
management's exercise of business judgment as well as assumptions
made by and information currently available to management. When
used in this document, the words "may", "will", "anticipate",
"believe", "estimate", "expect", "intend" and words of similar
import, are intended to identify any forward-looking statements.
You should not place undue reliance on these forward-looking
statements. These statements reflect our current view of future
events and are subject to certain risks and uncertainties as
contained in the Company's filings with Canadian securities
regulatory authorities, which in relation to this press release
include, but are not limited to, our expected fiscal 2009 organic
revenue growth, our expected future design wins, and our expected
market share across various customers and product segments. Should
one or more of these risks or uncertainties materialize, or should
underlying assumptions prove incorrect, our actual results could
differ materially from those anticipated in these forward-looking
statements. We undertake no obligation, and do not intend, to
update, revise or otherwise publicly release any revisions to these
forward-looking statements to reflect events or circumstances after
the date hereof, or to reflect the occurrence of any unanticipated
events. Although we believe that our expectations are based on
reasonable assumptions, we can give no assurance that our
expectations will materialize.
The TSX Venture Exchange Inc. has not reviewed and does not
accept responsibility for the adequacy or accuracy of this
release.
Contacts: QuStream Corporation Howard Sutton President and CEO
+1 416-385-2323 x 200 hsutton@qustream.com
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