Ottawa-based Espial is reporting higher losses and lower revenue during its second quarter of 2016 compared with the same period last year.
The digital TV software maker (TSX:ESP) reported revenue of $4,548,770 during the three-month period that ended June 30, down from $5,500,255 during the same period last year.
The company’s net loss during the quarter was $2,945,976, an increase from the net loss of $277,835 it reported in 2015.
OBJ360 (Sponsored)
Navigating innovation often means stepping off the beaten path to ensure success, especially when it comes to intellectual property in tech. That’s why Swidget decided to partner with the IP
Ottawa Salus’ pioneering role in bringing supportive housing to Ontario
From the inception of supportive housing in Ontario to the first supportive housing building in Canada for older adults, Ottawa Salus leads the way in transformative care.
Espial reported a loss before interest, foreign exchange, taxes, stock compensation, depreciation and amortization for the quarter of fiscal 2016 of $2,092,712, compared with adjusted earnings of $370,506 at this time a year ago.
Despite the increase in losses, the company did highlight some successes during the quarter, including deals with Portuguese cable operator NOS and German cable operator Tele Columbus.