Telvue Corp. (fka TEVE)

[AlanC]

TelVue Corporation Reports 2nd Quarter Profit
Date : 08/14/2013 @ 3:47PM
Source : Marketwired
Stock : Telvue Corp. (PN) (TEVE)
Quote : 12.0 0.0 (0.00%) @ 8:18AM
TelVue Corporation Reports 2nd Quarter Profit
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Telvue Corp. (PN) (USOTC:TEVE)
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Today : Wednesday 14 August 2013

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TelVue® Corporation (PINKSHEETS: TEVE), the innovation leader in Television and Internet Broadcasting for media companies, cable operators and communities, reported second quarter net income to Common Stockholders (through June 30) of $34,177 which was a turnaround from the 2012 second quarter loss of $1.0 million. Second quarter revenues were up 47% to $1.6 million from the same period in 2012.
"We are very pleased with this profitability and cash flow milestone," said Jesse Lerman, TelVue's President and CEO. "In particular, growth of 132% in cloud services against the same 2012 period shows that our new offerings are gaining traction in a rapidly evolving broadcast industry that is transitioning to Internet delivery of video. Same period equipment sales growth of 49% is a nice indicator that our ability to combine cloud services with equipment suits many broadcasters who need on-premise equipment but also want innovative workflow features and flexibility best delivered through the cloud."

"TelVue is operating at an improving performance level," said Emmett Hume, TelVue's Chief Financial Officer. "We have created a more efficient expense structure through a range of process automations and improvements, and we are now structured to achieve more significant profitability with our sales growth."

About TelVue Corporation

TelVue® Corporation is a broadcast technology innovator and leader 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 for 8 of the top 10 Cable and Telco MSOs, powers over 1,500 hyperlocal and PEG channels, powers Over-The-Top and Subscription Internet channels on the most popular OTT boxes and gaming consoles, and 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 http://www.TelVue.com

Forward-Looking Statements

This press release contains forward-looking statements that relate to future outcomes. Future operating and financial outcomes depend on numerous factors inside and outside of the Company and are thus inherently uncertain.