32° Good Afternoon
32° Good Afternoon

NeuLion 2Q loss widens as revenue edges lower

The operations center of NeuLion, an online video

The operations center of NeuLion, an online video streaming company in Plainview, on July 23, 2012. Credit: Steve Pfost

NeuLion Inc., a Plainview company that provides digital streaming technology for sports events, reported its second-quarter loss widened and revenue edged lower.

The company’s revenue fell 1 percent to $23.9 million compared with the year-earlier period, and its net loss widened to $2.3 million, a penny per diluted share, compared with a loss of $800,000, or zero cents per diluted share, in the prior year’s second quarter.

“Expansion of our digital platform revenue base, which, excluding NHL-related revenues, increased 16 percent in the second quarter compared to last year, is fueling improving growth,” Roy Reichbach, president and chief executive of NeuLion, said in a statement. NeuLion lost the NHL digital video business in January 2016.

The NHL got an equity stake in MLB Advanced Media as part of a six-year, $1.2 billion deal to run its digital video business.

NeuLion also announced that its board of directors had appointed Ed Goren to serve as a director, which was effective Wednesday, expanding the board to 10 members.

Goren was a longtime executive with CBS Sports and FOX Sports.

Shares of NeuLion, which reported its earnings after the market closed Wednesday, have fallen almost 50 percent in the past 12 months on the Toronto Stock Exchange. They closed down 5 cents to 60 cents on Thursday.

CORRECTION: NeuLion’s loss of the NHL digital video business in January 2016 did not affect the company’s net income in the second quarter of 2017. Earlier versions of this story online misstated the effect.

More news