DALLAS–(BUSINESS WIRE)– DG FastChannel®, Inc. (NASDAQ: DGIT), a leading provider of digital media services to the advertising, entertainment and broadcast industries, today reported record second quarter financial results. Consolidated revenue for the second quarter 2009 was $43.7 million compared to $34.5 million in the same period of 2008, a 27% increase. Second quarter 2009 revenue from the delivery of high definition (HD) advertising content was $12.0 million compared to $6.7 million in the same period of 2008.
Scott K. Ginsburg, Chairman and CEO of DG FastChannel commented, “The Company is pleased to report strong financial and operating results for the second quarter including meaningful progress towards our most important strategic and financial objectives. HD content distribution remains a strong driver of DG FastChannel’s growth, and the number of advertisers creating HD campaigns that are managed and delivered through our proprietary network continues to expand. In addition, the points of destination capable of receiving HD-enabled advertising content have increased to approximately 600 in the second quarter, and the Company estimates this total will approach 1,000 by the end of the year. This activity supports our projections that HD revenue will continue to accelerate during 2009.”
“DG FastChannel’s workflow tools and HD digital advertising platform, relationships with major content providers, and commitment to next generation standards provide a natural entrée for expanding into the rich media marketplace. The Company’s unique expertise and the Company’s recently acquired Unicast division offer participation in advertising’s fastest growing market. Unicast features best-in-class technology infrastructure, exemplary customer service, and strong relationships among publishers. These strong relationships afford the Company a foundation to more fully penetrate the agency side of the business. The Company has championed this initiative by building out executive, sales and operations teams, enhancing our marketing program, and aligning product offerings with customer needs. As part of this effort, the Company is building out a self service creative authoring model that complements our existing full service package for creating, managing and measuring new media advertising campaigns. These initiatives are progressing as planned, and position the Company for additional growth.”
Adjusted EBITDA was $16.8 million compared to $13.0 million in the comparable period of 2008, a gain of 29%. Second quarter 2009 net income was $3.6 million, or $0.16 per diluted share, compared with net income of $4.1 million, or $0.23 per diluted share in 2008. Second quarter 2009 normalized net income was $10.0 million, or $0.45 per diluted normalized net income per share, compared to normalized net income of $8.0 million, or $0.43 per diluted normalized net income per share in 2008. As of June 30, 2009, DG FastChannel had $21.5 million in cash and $113.2 million of debt, or net debt of $91.7 million. The terms “adjusted EBITDA” and “normalized net income” are defined on the following page.
“The financial condition of the Company has never been stronger. As we position our business for long-term growth, the Company does so from a solid financial foundation, enhanced by recent developments during the quarter. DG FastChannel successfully completed an equity offering of 2.9 million common shares resulting in approximately $52 million of net proceeds to the Company. All proceeds were applied to reduce outstanding bank borrowings resulting in $91.7 million of net debt outstanding as of June 30, 2009. In addition, the Company’s adjusted EBITDA margin increased to an impressive 39% and continues to benefit from the $3.5 million in annual cost action savings implemented during the second quarter with expectation of full benefit in the second half of this year. DG FastChannel expects to continue making sustained progress toward its goals of improving operating margins, profitability and cash flow,” concluded Mr. Ginsburg.
Tuesday, September 22, 2009
Monday, September 21, 2009
DG FASTCHANNEL ANNOUNCES KEY CHANGE TO EXECUTIVE MANAGEMENT
Friday, September 18, 2009
DG FastChannel Named One of the Fastest Growing Companies in the World by Fortune Magazine
Monday, September 14, 2009
DG FASTCHANNEL SECURES THREE PRESTIGIOUS AWARDS: FORTUNE SMALL BUSINESS 100 LIST, TECH TITANS FINALIST AND CFO OF THE YEAR NOMINEE
DG FASTCHANNEL SECURES THREE PRESTIGIOUS AWARDS: FORTUNE SMALL BUSINESS 100 LIST, TECH TITANS FINALIST AND CFO OF THE YEAR NOMINEE
DALLAS – August 11, 2009 – DG FastChannel®, Inc. (NASDAQ: DGIT), a leading provider of digital media services to the advertising, media and entertainment industries, ranked number five on the Fortune Small Business list of the nation’s 100 fastest-growing small public companies. The company is also a finalist for the 2009 Tech Titans Fast Tech award. Additionally, the CFO of DG FastChannel, Omar Choucair, is a finalist for the CFO of the Year award given by the Dallas Business Journal. The award recognition demonstrates the growth and vitality of DG FastChannel, which has excelled even in today’s difficult economic environment.
“We are very proud of these prestigious recognitions of our company, and we are particularly happy that Omar has received recognition as one of the best CFO’s in Dallas-Fort Worth,” said Scott Ginsburg, chairman and CEO, DG FastChannel. “The recognition reflects the work ethic, skill and determination inside our company. Certainly, the financial results speak volumes about the almost 800 people working in the organization.”
Fortune Small Business list of the nation’s 100 fastest-growing small public companies are measured by revenue growth and stock performance over the last three years. The list is published annually.
Receiving a Tech Titans award nomination is based on percentage of revenue growth over five years. DG FastChannel experienced considerable growth of 60.8 percent in the past fiscal year. The company’s revenue for 2007 was $97.7M and in 2008 was $157.1M. The company was one of 38 finalists from 63 submissions. Winners in the five year growth category are also eligible for the Deloitte Technology Fast 500 award.
The Dallas Business Journal CFO of the Year award recognizes the outstanding contributions of Dallas-Fort Worth area Chief Financial Officers in their roles as corporate financial stewards.
“Omar has been instrumental in making our company a leader in the media services industry. Under his skillful direction, both the revenues and overall financial results have significantly grown,” stated Ginsburg. “We have made numerous acquisitions in which Omar played an essential role. He meticulously reviews each deal to help determine if a company should be added to the DG FastChannel roster. Together with his colleagues, Omar participates in negotiations, works with our financial partners, and upon closing the transaction, leads many of the efforts to integrate the new company into our existing infrastructure. These acquisitions have been paramount to our growth.”
The Tech Titans award winner will be announced August 28, 2009 at an awards dinner; the Dallas Business Journal CFO of the Year award winner will be announced at a luncheon on October 22, 2009.
DALLAS – August 11, 2009 – DG FastChannel®, Inc. (NASDAQ: DGIT), a leading provider of digital media services to the advertising, media and entertainment industries, ranked number five on the Fortune Small Business list of the nation’s 100 fastest-growing small public companies. The company is also a finalist for the 2009 Tech Titans Fast Tech award. Additionally, the CFO of DG FastChannel, Omar Choucair, is a finalist for the CFO of the Year award given by the Dallas Business Journal. The award recognition demonstrates the growth and vitality of DG FastChannel, which has excelled even in today’s difficult economic environment.
“We are very proud of these prestigious recognitions of our company, and we are particularly happy that Omar has received recognition as one of the best CFO’s in Dallas-Fort Worth,” said Scott Ginsburg, chairman and CEO, DG FastChannel. “The recognition reflects the work ethic, skill and determination inside our company. Certainly, the financial results speak volumes about the almost 800 people working in the organization.”
Fortune Small Business list of the nation’s 100 fastest-growing small public companies are measured by revenue growth and stock performance over the last three years. The list is published annually.
Receiving a Tech Titans award nomination is based on percentage of revenue growth over five years. DG FastChannel experienced considerable growth of 60.8 percent in the past fiscal year. The company’s revenue for 2007 was $97.7M and in 2008 was $157.1M. The company was one of 38 finalists from 63 submissions. Winners in the five year growth category are also eligible for the Deloitte Technology Fast 500 award.
The Dallas Business Journal CFO of the Year award recognizes the outstanding contributions of Dallas-Fort Worth area Chief Financial Officers in their roles as corporate financial stewards.
“Omar has been instrumental in making our company a leader in the media services industry. Under his skillful direction, both the revenues and overall financial results have significantly grown,” stated Ginsburg. “We have made numerous acquisitions in which Omar played an essential role. He meticulously reviews each deal to help determine if a company should be added to the DG FastChannel roster. Together with his colleagues, Omar participates in negotiations, works with our financial partners, and upon closing the transaction, leads many of the efforts to integrate the new company into our existing infrastructure. These acquisitions have been paramount to our growth.”
The Tech Titans award winner will be announced August 28, 2009 at an awards dinner; the Dallas Business Journal CFO of the Year award winner will be announced at a luncheon on October 22, 2009.
Tuesday, September 8, 2009
About Scott K. Ginsburg
Scott K. Ginsburg is Chairman and CEO of DG FastChannel (NASDAQ: DGIT). He has been a member of the DG FastChannel Board of Directors since 1998.
Scott K. Ginsburg is the owner/founder of Boardwalk Auto Group. He founded the Boardwalk Auto Group as a Porsche dealer. The Group is now a dealership enterprise located in Dallas and California.
Scott K. Ginsburg recently acquired a San Francisco Ferrari/Maserati dealership.
Scott K. Ginsburg worked in Congress during college and law school. Later, Scott Ginsburg served as Staff Director and General Counsel of the U.S. Senate Labor's Subcommittee on Employment, Poverty and Migratory Labor, then on the U.S. Senate Subcommittee on Social Security and Medicare.
In 1983, Scott Ginsburg founded Statewide Broadcasting, which grew from AM and FM radio stations in three Florida cities to large markets such as Dallas and Chicago. In 1987, Scott Ginsburg co-founded H & G Communications, adding Los Angeles and Honolulu stations.
Scott K. Ginsburg co-founded Chancellor Media Corporation in 1997, combining Chancellor Broadcasting with Evergreen Media Corporation, serving as Director and CEO. The new group became the top billing radio group in the United States.
Scott Ginsburg is active in the Dallas arts community. He has been a board member of the Dallas Symphony, Dallas Arboretum, Greenhill and Shelton private schools and AFI Dallas.
He helped found and chaired IPC, an organization dedicated to the treatment and cure of psoriasis. Scott Ginsburg is a member of the Georgetown Law School's Board of Visitors.
Scott K. Ginsburg and his family have donated time and resources to recipients including: Georgetown Law School, the Greenhill School, Shelton School, the Dallas Arboretum, the Dallas Symphony, the Dallas Center for the Performing Arts, the AFI Dallas, as well as many other charitable organizations throughout the Dallas community.
Scott Ginsburg earned his Bachelor's degree from George Washington University, and his Juris Doctorate degree from Georgetown University Law Center. He lives in Dallas with his wife and two sons. He also has two adult children.
Scott K. Ginsburg is the owner/founder of Boardwalk Auto Group. He founded the Boardwalk Auto Group as a Porsche dealer. The Group is now a dealership enterprise located in Dallas and California.
Scott K. Ginsburg recently acquired a San Francisco Ferrari/Maserati dealership.
Scott K. Ginsburg worked in Congress during college and law school. Later, Scott Ginsburg served as Staff Director and General Counsel of the U.S. Senate Labor's Subcommittee on Employment, Poverty and Migratory Labor, then on the U.S. Senate Subcommittee on Social Security and Medicare.
In 1983, Scott Ginsburg founded Statewide Broadcasting, which grew from AM and FM radio stations in three Florida cities to large markets such as Dallas and Chicago. In 1987, Scott Ginsburg co-founded H & G Communications, adding Los Angeles and Honolulu stations.
Scott K. Ginsburg co-founded Chancellor Media Corporation in 1997, combining Chancellor Broadcasting with Evergreen Media Corporation, serving as Director and CEO. The new group became the top billing radio group in the United States.
Scott Ginsburg is active in the Dallas arts community. He has been a board member of the Dallas Symphony, Dallas Arboretum, Greenhill and Shelton private schools and AFI Dallas.
He helped found and chaired IPC, an organization dedicated to the treatment and cure of psoriasis. Scott Ginsburg is a member of the Georgetown Law School's Board of Visitors.
Scott K. Ginsburg and his family have donated time and resources to recipients including: Georgetown Law School, the Greenhill School, Shelton School, the Dallas Arboretum, the Dallas Symphony, the Dallas Center for the Performing Arts, the AFI Dallas, as well as many other charitable organizations throughout the Dallas community.
Scott Ginsburg earned his Bachelor's degree from George Washington University, and his Juris Doctorate degree from Georgetown University Law Center. He lives in Dallas with his wife and two sons. He also has two adult children.
Thursday, September 3, 2009
Scott K. Ginsburg is the Chairman of the Board and CEO of DG FastChannel, (NASDAQ: DGIT)
Scott K. Ginsburg is the Chairman of the Board and CEO of DG FastChannel, (NASDAQ: DGIT) the leading provider of digital media distribution services to the advertising and broadcast industries.
Scott Ginsburg has helped to mold DG FastChannel into a prominent leader in its industry. Under his leadership the company has experienced astronomical growth. DG FastChannel ranked fifth on the 2009 Fortune Small Business list of the nation’s 100 fastest-growing small public companies.
Scott Ginsburg has helped to mold DG FastChannel into a prominent leader in its industry. Under his leadership the company has experienced astronomical growth. DG FastChannel ranked fifth on the 2009 Fortune Small Business list of the nation’s 100 fastest-growing small public companies.
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