SOURCE: NeuLion, Inc.

NeuLion, Inc.

March 17, 2010 08:20 ET

NeuLion Reports Q4 and Fiscal 2009 Results

PLAINVIEW, NY--(Marketwire - March 17, 2010) -  NeuLion, Inc. (TSX: NLN) (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 fourth quarter and year ended December 31, 2009. (all amounts are in U.S. dollars)

For the three months ended December 31, 2009:

  • Revenue was $9.0 million for the three months ended December 31, 2009 compared to $5.8 million in the same period in 2008, marking a period over period increase of 55%. 
  • The net loss for the three months ended December 31, 2009 was $1.5 million (including $1.0 million of net non-cash income(1)) or $0.01 per share, basic and diluted as compared to $7.2 million (including $3.8 million of non-cash charges(1)) or $0.13 per share, basic and diluted in the same period a year ago. 

For the twelve months ended December 31, 2009:

  • For the year ended December 31, 2009, revenue was $28.1 million compared to $13.4 million in the prior year, marking a year over year increase of 110%. 
  • The net loss for the year ended December 31, 2009 was $19.6 million (including $6.1 million of non-cash charges(1)) or $0.18 per share, basic and diluted as compared to $11.6 million (including $5.5 million of non-cash charges(1)) or $0.21 per share, basic and diluted in the prior year. 

(1) Non-cash charges consist of depreciation and amortization, stock-based compensation, unrealized loss/gain on derivative, impairment charges and equity loss in affiliate.

As of December 31, 2009 the Company had $13.0 million in cash and cash equivalents.

About NeuLion
Based in Plainview, NY, 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 the Operational Support System (OSS) maintains all billing and customer support services. Content partners are responsible for content aggregation and the sales and marketing for the individual IPTV service. 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, NCAA Division I schools and conferences and, in respect to international and specialty television aggregators and networks, KyLinTV (Chinese), ABS-CBN (Filipino), Talfazat (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
Certain statements herein are forward-looking statements and represent NeuLion's current intentions in respect of future activities. These statements, in addressing future events and conditions, involve inherent risks and uncertainties. Forward-looking statements can by identified by the use of the words "will," "expect," "seek," "anticipate," "believe," "plan," "estimate," "expect," and "intend" and statements that an event or result "may," "will," "can," "should," "could," or "might" occur or be achieved and other similar expressions. Forward-looking statements involve significant risk, uncertainties and assumptions. 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. 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 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 on 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