NeuLion’s revenue declines as it pushes into foreign markets
NeuLion Inc. Wednesday reported it broke even in the fourth quarter on a per share basis as the Plainview provider of digital video services seeks to expand into foreign markets.
The company’s net loss was $300,000, or 0 cents per diluted share in the quarter ended Dec. 31. That compared to net income of $32.8 million, or 11 cents per diluted share in the 2015 period.
Revenue fell 8 percent to $25.5 million, the company said in a report after Wednesday’s market close.
“We made significant progress this year implementing our long-term growth strategy, enhancing the NeuLion Digital Platform, and expanding our global presence and business in Europe and Asia,” Roy Reichbach, president and chief executive, said in a statement. “We have begun to see tangible results of our expanded sales team in Europe.”
Shares of NeuLion gained 4.4 percent to close at 95 cents (in Canadian currency) on the Toronto Stock Exchange Wednesday.
Ken Schachter covers corporate news, including technology and aerospace, and other business topics for Newsday. He has also worked at The Miami Herald and The Jerusalem Post.
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