OTTAWA, ONTARIO--(Marketwired - May 14, 2015) - International Datacasting Corporation ("IDC") (TSX:IDC), a technology provider for the world's premiere broadcasters, today announced selected preliminary unaudited financial results for the first quarter of Fiscal 2016. Based on its current expectations, IDC anticipates the following results for its first-quarter ended April 30, 2015.

  • Total revenue was approximately $3 million, including approximately $2.6 million in Products revenue
  • Operating results were approximately breakeven, excluding transaction costs associated with the proposed asset purchase transaction with Pico Digital Inc.
  • Secured bridge financing of $1.2 million has been received from Pico Digital Inc., pursuant to the Asset Purchase Agreement signed on April 21st, 2015
  • Including the funds received, IDC's cash position was $1.1 million at April 30, 2015

Full financial statement disclosure is scheduled to be made in early June 2015. Because IDC's results of operations for the first quarter of Fiscal 2016 have not yet been finalized, the preliminary results included in this press release are subject to change as a result of the period-end closing process. See "Forward Looking Statements". All amounts in this release are in Canadian dollars unless otherwise stated.

About International Datacasting Corporation:

International Datacasting Corporation (TSX:IDC) is a global technology provider for the world's premiere broadcasters in radio, television, data and digital cinema. IDC's products and solutions are in demand for radio and television networks, targeted ad insertion, digital cinema, 3D live events, satellite news gathering, sports contribution, VOD, and IPTV. IDC is headquartered in Ottawa, Canada, with regional offices in Arnhem, the Netherlands and in San Diego, California. For more information visit: www.datacast.com.

Forward-Looking Statements:

This press release contains certain information that may constitute "forward-looking information" and/or "forward-looking statements" within the meaning of applicable Canadian securities laws including, without limitation, statements with respect to management's expectations regarding its results of operations, performance (both operational and financial) and business prospects and opportunities, and management's expectations with respect to customer acceptance of, and the receipt of orders for, IDC's products. All forward-looking information and forward-looking statements are necessarily based on a number of estimates and assumptions that are inherently subject to significant business, economic and competitive uncertainties and contingencies. The material assumptions used to develop the forward looking-statements made in this release include assumptions related to the effectiveness of IDC's disclosure controls and procedures and the effectiveness of IDC's internal controls over financial reporting.

All statements other than statements which are reporting results as well as statements of historical fact are forward-looking statements that may involve a number of known and unknown risks, uncertainties and other factors; many of which are beyond the ability of IDC to control or predict.

Forward-looking statements are generally identifiable by use of the words "may", "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "design", "plan or "project" or the negative of these words or other variations on these words or comparable terminology. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Risks and uncertainties that might cause actual results to differ materially include, but are not limited to: risks related to operations and currency fluctuations, customer demand for IDC's products and services, and the possibility that certain assumptions with respect to the preliminary financial results could prove to be inaccurate.

More detailed information about potential factors that could affect IDC's financial and business results is included in the public documents IDC files from time to time with Canadian securities regulatory authorities and which are available on SEDAR at www.sedar.com, including, without limitation, IDC's Annual Information Form and MD&A for the year ended January 31, 2015, each dated April 29, 2015.

In addition, IDC is currently undergoing its quarter-end closing and review process. Because IDC's results of operations for the quarter ended April 30, 2015 have not yet been finalized, the preliminary results included in this press release are subject to change as a result of the period-end closing process. These changes may be material. The preliminary financial results included in this press release have been prepared by, and are the responsibility of, IDC's management.

Except as expressly required by applicable law, we undertake no obligation to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise. Forward-looking statements are provided to assist external stakeholders in understanding IDC's expectations as at the date of this release and may not be appropriate for other purposes. Readers are cautioned not to place undue reliance on such statements.

Contact Information:

International Datacasting Corporation
Doug Lowther
President and CEO
+1 613 596 2400 x 2211
dlowther@datacast.com
www.datacast.com