CALGARY – Next generation networks supplier Axia NetMedia Corporation saw its consolidated revenue for the quarter climb 11%, and consolidated gross profit for the quarter reach $6.4 million, or 36% of revenue.
For its third quarter of fiscal 2009, ended March 31, 2009, consolidated revenue was $17.8 million, up from $16.0 million in 2008.
Net income for quarter was $0.7 million, and $5.6 million for the nine month period of fiscal 2009, a decrease of $1.8 million from $2.5 million for the previous quarter and a decrease of $1.0 million compared to the same nine month period of fiscal 2008.
Calling the fundamentals of its business “solid”, chairman and CEO Art Price said that the company’s interests in the open access next generation networks (OAN NextGen) in France and Singapore will be profitable “over the medium and longer term”.
“In addition, the compelling cost/benefit and performance characteristics of the three main drivers of the ICT sector, ‘advanced wireless services’, ‘computing in the cloud’ and ‘software as a Service’, each depend on access to OAN NextGen solutions of the nature deployed by Axia and, accordingly the market opportunity is growing," Price continued in the press release announcing the company’s results.
Axia has networks in Alberta, France and Singapore. Its Alberta SuperNet saw “steady growth” as bandwidth sales grew to 67 Gbps at the end of March 2009, compared to 63 Gbps at the end of December 2008.
In other news, Murray Sigler has joined the company as president of Axia Canada and executive vice president for Axia NetMedia Corporation, effective May 19, 2009. He will be responsible for Axia’s Alberta SuperNet business and other business development initiatives in Canada.
Sigler was previously the managing director of the Government of Alberta’s UK Office, was the president and CEO of the Calgary Chamber of Commerce, and led Canadian Airlines as president and COO of Canadian Airlines International and CEO of Canadian Regional Airlines.
