DG FastChannel Q2 Revs, Income Up
August 9, 2007 at 3:31 PM (PT)
DG FASTCHANNEL has reported financial results for the second quarter ended JUNE 30, 2007. Second-quarter highlights included consolidated revenue of $21.7 million, compared to $15.1 million in the comparable period of 2006. Second-quarter pro forma revenue growth of 8% on a year-over-year basis. Net income of $3.3 million, or $0.20 per diluted share, compared with net income of $1.1 million, or $0.12 per diluted share in the 2006 second quarter and reflecting the $30 million acquisition of Pathfire during the quarter, DG FASTCHANNEL had $8.3 million in cash and $33.1 million of debt and capital leases as of JUNE 30, 2007.
Chairman/CEO SCOTT K. GINSBURG commented, "The second quarter was an active and successful period for DG FASTCHANNEL, highlighted by record financial results. Additionally, we entered into several strategic acquisitions and partnerships that will expand the breadth of our next generation, state-of-the-art digital media offerings across new and exciting markets."
DG FastChannel Closes $85 Million Credit Facility
Also, DG FASTCHANNEL, INC.announced today that it closed a new $85 million credit facility with BMO CAPITAL MARKETS as lead bank syndicate.
The new facility, comprised of a five year, $40 million senior secured revolving credit facility and $45 million term loan, replaces DG FASTCHANNEL's prior $35 million credit facility with WACHOVIA BANK N.A.