TelVue Reports 3rd Quarter Net Rise on Strong Sales Growth
October 15, 2013 --
MOUNT LAUREL, NJ -- (Marketwired) -- 10/15/13 -- TelVue Corporation (PINKSHEETS: TEVE), the innovation leader in television and Internet broadcasting for media companies, cable operators and communities, reported third quarter 2013 revenues were up 73% from the same period a year before -- to $2,132,663. At the same time, TelVue's third quarter net income to common stockholders (through September 30) rose to $276,329. This compares with a loss of $804,361 for the same quarter in 2012, and net income in second quarter of 2013 of $34,177.
"All of our key business lines experienced strong growth, and it was particularly gratifying to see this growth across each of our cable, community TV, and new media markets that we serve," said Jesse Lerman, TelVue's President and CEO. "This quarter's results confirm that TelVue's products are addressing our customers' needs in the face of a rapidly changing video production and delivery environment."
"We have made progress implementing operating process improvements, and our success here is evidenced by an operating cash margin (Net Income plus depreciation and accrued preferred dividends) of $385,000 for the quarter," said Emmett Hume, TelVue's CFO.
About TelVue Corporation
TelVue Corporation is a broadcast technology innovator that helps video broadcasters automate their channels, expand their audiences across multiple screens, and broaden their ability to monetize their content. TelVue's professional quality broadcast equipment and cloud video services include all-in-one digital broadcast servers, ad servers, live and VOD Internet streaming, multi-user contribution and transcoding, hosted broadcast, broadcast program sharing and web-based digital signage. TelVue serves the local origination and leased access needs of 8 of the top 10 Cable and Telco MSO's, powers over 1,500 hyperlocal and PEG channels, powers Over-The-Top and subscription Internet Channels on most popular OTT boxes and gaming consoles and reliably delivers local and specialty programming to millions of college students, hundreds of hospitals and to over 30 million households. For more information about TelVue, please visit www.TelVue.com.
Forward Looking Statements
This press release contains forward looking statements that related to future outcomes. Future operating and financial outcomes depend on numerous factors inside and outside the Company and are thus inherently uncertain.
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