SOURCE: NeuLion, Inc.

NeuLion, Inc.

November 09, 2010 18:00 ET

NeuLion Reports Q3 2010 Results

PLAINVIEW, NY--(Marketwire - November 9, 2010) -  NeuLion, Inc. (TSX: NLN) ("NeuLion" or the "Company"), an end-to-end IPTV service provider of live and on-demand sports, international and variety programming over the Internet, today announced results for the third quarter ended September 30, 2010. (All amounts are in U.S. dollars.)

For the three months ended September 30, 2010:

  • Revenue was $6.9 million, as compared to $6.1 million for the three months ended September 30, 2009, marking a period-over-period increase of $0.8 million, or 13%.

  • Cost of revenue, exclusive of depreciation and amortization, decreased to $2.9 million, as compared to $3.2 million for the three months ended September 30, 2009, marking a period-over-period decrease of $0.3 million, or 9%.

  • The net loss was $5.0 million (including $1.5 million of non-cash charges), or $0.04 per common share, basic and diluted, as compared to $7.5 million (including $3.7 million of non-cash charges), or $0.07 per common share, basic and diluted, for the three months ended September 30, 2009, marking a period-over-period improvement of $2.5 million, or 33%. 

For the nine months ended September 30, 2010:

  • Revenue was $22.1 million, as compared to $19.1 million for the nine months ended September 30, 2009, marking a period-over-period increase of $3.0 million, or 16%.

  • Cost of revenue, exclusive of depreciation and amortization, decreased to $9.8 million, as compared to $10.4 million for the nine months ended September 30, 2009, marking a period-over-period decrease of $0.6 million, or 6%.

  • The net loss was $14.2 million (including $4.3 million of non-cash charges), or $0.12 per common share, basic and diluted, as compared to $18.2 million (including $7.1 million of non-cash charges), or $0.16 per common share, basic and diluted, for the nine months ended September 30, 2009, marking a period-over-period improvement of $4.0 million, or 22%.

Non-cash charges consist of depreciation and amortization, stock-based compensation and unrealized gain/loss on derivative.

As of September 30, 2010, the Company had $13.2 million in cash and cash equivalents. 

About NeuLion
Based in Plainview, New York, Sanford, Florida and Toronto, Ontario, NeuLion (TSX: NLN) works with content partners to develop end-to-end solutions for multimedia IPTV services. The NeuLion IPTV Platform encodes, delivers, stores and manages an unlimited range of multimedia content and NeuLion's operational support system (OSS) maintains all billing and customer support services. Content partners are responsible for content aggregation and the sales and marketing for individual IPTV services. The Company ranks as a world leader in customer/partner relationships with sports, international and specialty television content partners including, in sports, the NHL, the NFL, the NBA, MLS and NCAA Division I schools and conferences and, with respect to international and specialty television aggregators and networks, KyLinTV (Chinese), ABS-CBN (Filipino), Talfazat and Talfazat-ART (Arabic), TV-Desi (South Asian) and Sky Angel (Christian). Customer/partner content can be viewed by way of the Internet on PCs and mobile devices and on the television through the Company's IPTV set top box.

Forward-Looking Statements
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this release and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law. Many factors could cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including: our ability to integrate the operations of TransVideo International Ltd. with our own; our ability to generate additional revenue; general economic and market segment conditions; our customers' subscriber levels; the financial health of our customers; our ability to pursue and consummate acquisitions in a timely manner; our continued relationships with our channel partners; our ability to negotiate favorable terms for contract renewals; competitor activity; product capability and acceptance rates; technology changes; international risk; and currency exchange. A more detailed assessment of the risks that could cause actual results to materially differ from current expectations is contained in the Company's most recent annual MD&A filed on www.sedar.com and available at www.sec.gov as well as in the "Risk Factors" section of the Company's most recent annual report on Form 10-K filed on www.sedar.com and available at www.sec.gov.

Contact Information

  • Press Contact:
    Jennifer Powalski
    Corporate Communications
    516-622-8334
    Email Contact

    Investor Relations Contact:
    G. Scott Paterson
    Vice Chairman
    416-368-6464
    Email Contact