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Radiant Communications Announces 2012 Annual and Fourth Quarter Results


Radiant Communications Announces 2012 Annual and Fourth Quarter Results

VANCOUVER, March 20, 2013 /CNW/ - Radiant Communications Corp. ("Radiant") (TSX-V: RCN), a leading provider of managed network and cloud hosting solutions for medium-size enterprises today announced its financial results for the fourth quarter and year ended December 31, 2012.

HIGHLIGHTS:


    --  Record revenue of $32.7 million for the year ended December 31,
        2012 increased by 1.2% compared to revenue of $32.3 million for
        the year ended December 31, 2011. Fourth quarter revenue of
        $8.2 million increased by 0.9% compared to the fourth quarter
        of 2011.
    --  Gross margin was 40.2% for the year and 38.6% in the fourth
        quarter.
    --  Amortization for the year ended December 31, 2012 was $1.5
        million and amortization in the fourth quarter was $367,399.
    --  EBITDA for the year ended December 31, 2012 was $2.0 million
        and EBITDA in the fourth quarter was $240,802. (See EBITDA
        section for the reconciliation of EBITDA to Net Income).
    --  The Net Income for the year was $409,630 or $0.03 per share
        with a Net Loss of $150,707 or $0.01 per share in the fourth
        quarter.
    --  The Company ended the year with cash and short-term investments
        of $6.9 million and generated $3.8 million of cash from
        operating activities during the year.
    --  During 2012 Radiant re-signed several existing customer
        relationships, continued to add new services with existing
        customers and sold new services to many small and medium
        businesses.
    --  On March 5, 2012, Paul Healey was appointed President and CEO
        by the Board of Directors.
    --  On March 9, 2012, Rolf Dekleer resigned from the Radiant Board
        of Directors.
    --  On July 5, 2012, at the Annual General Meeting of Shareholders
        Greg Gutmanis was elected to the Board of Director and
        appointed as the Chair of the Audit Committee. Ian Power did
        not stand for re-election.
    --  On March 8, 2013, the Company entered into an Arrangement
        Agreement with two controlling shareholders under which the
        Company would be taken private pursuant to a plan of
        arrangement under the provisions of the Canada Business
        Corporations Act

"The past year has been focused on delivering secure, reliable managed 
networks and cloud hosting solutions to meet our customer's business-critical 
needs.  We've made tremendous progress overall and I am very pleased with our 
growth and results to date." said Paul Healey, President and CEO.  "We are 
delivering on our growth plan, and have generated significant cash flow and 
record profits for our shareholders.  Moving forward into 2013, we will 
remain focused on the demands of our medium-size enterprise customers and 
vision for growth including secure, high performance and scalable network 
services and solutions. "

EBITDA

Earnings before Interest, Taxes, Depreciation and Amortization is calculated 
as follows:
                                          

($000s)                          Q4 2012 Q4 2011

Operating Income                 $ (171)    $ 43

Amortization                         367     366

Stock-based compensation expense      45      11

EBITDA                             $ 241   $ 420

In the fourth quarter of 2012, Radiant achieved EBITDA of $240,802 compared to 
EBITDA of $419,625 in the fourth quarter of 2011.
                                                    

($000s)                             Year ended        Year ended
                                 December 31, 2012 December 31, 2011

Operating Income  (loss)                    $  399          $  (684)

Amortization                                 1,478             1,445

Stock-based compensation expense               153                60

Restructuring costs                              -               523

EBITDA                                     $ 2,030           $ 1,344

In the twelve months ended December 31, 2012 Radiant achieved positive EBITDA 
of $2.0 million compared to positive EBITDA of $1.3 million in the comparable 
period of 2011.

About Radiant
Radiant Communications is a leading provider of managed network and cloud 
hosting solutions for medium-size enterprises. Leveraging one of the largest 
Internet footprints across Canada, Radiant offers a comprehensive portfolio of 
reliable, secure and scalable IT infrastructure services, simplified under a 
single point of contact. For over 15 years, many of Canada's most recognized 
brand names have been relying on Radiant to support their mission-critical 
business operations.

All trademarks, service marks, registered trademarks, or registered service 
marks are the property of the respective owners.

This press release may contain forward-looking statements, including 
statements regarding the business and anticipated financial performance of 
Radiant, which involve risks and uncertainties. These risks and uncertainties 
may cause Radiant's actual results to differ materially from those 
contemplated by the forward-looking statements. Factors that might cause or 
contribute to such differences include, among others, competitive pressures, 
the growth rate of the Internet and telecommunications concerns, constantly 
changing technology and market acceptance of Radiant's products and services. 
Investors are also directed to consider the other risks and uncertainties 
discussed in Radiant's required financial statements and filings. All other 
companies and products listed herein may be trademarks or registered 
trademarks of their respective holders.

The TSX Venture Exchange has not reviewed and does not accept responsibility 
for the adequacy or accuracy of this release.

Investors:  Chuck Leighton, CFO, 604.692.4531, cleighton@radiant.net 
Media: Janice Keay, Senior Director,Marketing, 416. 
646.9416, jkeay@radiant.net

SOURCE: Radiant Communications Corp.

To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/March2013/20/c6824.html

CO: Radiant Communications Corp.
ST: British Columbia
NI: ERN 

-0- Mar/20/2013 21:24 GMT

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