Record Quarter For DG FastChannel
November 6, 2008 at 7:12 AM (PT)
DG FastChannel has reported record financial results for the third quarter ended SEPTEMBER 30th, 2008. Third-quarter highlights include consolidated revenue of $41.4 million compared to $25.1 million in the same period of 2007; third-quarter 2008 revenue from the delivery of high definition (HD) advertising content of $9.3 million compared to $1.2 million in the same period of 2007; adjusted EBITDA of $16.5 million for the three months ended SEPTEMBER 30th, 2008 compared to $7.9 million in the same period of 2007; third-quarter 2008 income from continuing operations of $2.3 million, or $0.12 per diluted share, compared to income from continuing operations of $1.1 million, or $0.06 per diluted share, in the same period of 2007; third quarter 2008 normalized net income of $7.1 million, or $0.38 per diluted normalized net income per share, compared to normalized net income of $4.3 million, or $0.25 per diluted normalized net income per share in the same period of 2007.
Chairman/CEO SCOTT K. GINSBURG commented, "The third-quarter results were outstanding from an operational and financial perspective. DG FASTCHANNEL delivered quarterly revenues of $41.4 million, a 65% increase compared to the 2007 third quarter. The Company reported third-quarter Adjusted EBITDA of $16.5 million, a year-over-year increase of 109%. Adjusted EBITDA margins rose to 39.8% in the 2008 third quarter, a year-over-year increase of 840 basis points. Significantly, the Company’s key business driver, HD advertising, rose to record quarterly levels. Throughout 2008 the Company has demonstrated its capacity to weave together business units, refresh its technology platform and meet financial objectives."