Espial reports higher losses and lower revenue

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.

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.