DG FastChannel, provider of digital media services to the advertising, entertainment and broadcast industries, reported record financial Q3 results with revenue of $41.4 million compared to $25.1 million in the same period of 2007.
Q3 revenue from the delivery of high definition (HD) ad content of $9.3 million compared to $1.2 million in the same period of 2007.
Q3 income from continuing operations of $2.3 million, or $0.12 per diluted share, compared to income from continuing operations of $1.1 million, or $0.06 per diluted share, in the same period of 2007.
Q3 normalized net income of $7.1 million, or $0.38 per diluted normalized net income per share, compared to normalized net income of $4.3 million, or $0.25 per diluted normalized net income per share in the same period of 2007.
On moving forward next hear, DG CEO Scott Ginsburg said: “On February 17, 2009, broadcasters will complete the federally mandated transition to digital broadcasting. DG FastChannel’s revenue from the delivery of HD content already has grown exponentially on a year-over-year-basis. During the third quarter 2008, HD revenues rose to $9.3 million, extending the positive quarterly progression of this metric. We are still in the earliest stages of the overall transition to HD advertising adoption with an extremely positive outlook for future periods.”