Dalet 2014 Revenue up 15 Percent, Driven by Strong Sales in MAM and Radio Solutions

Posted by Joe Zaller
Feb 10 2015

Dalet, a provider of broadcast newsroom computer systems, asset management, and radio automation solutions, reported that its revenue for 2013 was 2012 revenue was €42.1m, an increase of 15% versus 2013.

Fourth quarter revenue was €13.1m, up 6% versus the same period a year ago.

The above figures include approximately 9 months revenue from AmberFin, which was acquired by Dalet in April 2014.

Excluding AmberFin, the company’s revenue was up 7% versus the previous year.

Gross margin for the full year 2014 were 85%, down from 87% in 2013, and 86% in 2012

 

On a geographic basis:

  • Revenue in Europe was €21.1m in 2014, up by 19% versus the full year 2013.  Europe represented 50.1% of total revenue for the year, versus 48.5% in 2013.

 

  •  Revenues grew 7% in the Americas to €13.9m, or 33% of total revenue for the year, down from 35.4% in 2013

 

  • 2014 revenue from MEA was €2.8m, up 4% versus 2013. The MEA region represented 6.7% of revenue in 2014, down from 6.7% in 2013.

 

  • APAC revenue in 2014 was €4.2m, up 32% versus the previous year. APAC revenue was 10% of total revenue in 2014, up from 8.7% in 2013

 

 

On a product basis:

  • Asset management revenue was €18.5m, up 36.2% versus the previous year.  Asset management revenue represented 44% of total revenue in 2014, compared to 37.1% in 2013, and 44.9% in 2012

 

  • TV Newsroom systems was €12.2m, down 5.4% versus the previous year. TV newsroom systems represented 29% of total revenue in 2014, compared to 35.1% in 2013, and 25.2% in 2012

 

  • Sport solutions revenue was €2.9m, up 5.3% versus the previous year. Sports solutions revenue was 7% of total revenue in 2014, versus 10% in both 2013 and 2012

 

  • Radio solutions revenue was €7.6m, up 51.6% versus 2013. Radio solutions represented 18% of total revenue in 2014, versus 13.6% in 2013 and 14.6% in 2012

 

  • Integration revenue was €0.84m, down 39.9% versus the previous year.  Integration revenue represented 2% of total revenue in 2014, versus 3.8% in 2013 and 5.5% in 2012

 

 

Dalet CEO David Lasry said the company “experienced growth in 2014 despite the depressed economic conditions in Europe and the uncertainty in Eastern Europe. Even with negative market factors and the restructuring costs associated with the acquisition of AmberFin, the company’s operating profit for the year should remain positive. The Q4 order intake is strong, particularly in North and South America. Our ongoing investments in Asia Pacific are now gaining traction and we expect to see revenue growth in this region as well. These positive factors should further enhance our position in the Media Asset Management and broadcast space as we continue to expand our roster of premier media customers.”

The company said that its Dalet’s backlog of orders to be executed in 2015 stands currently at €30m, similar to its level at the same period last year.

Dalet finished the year with approximately €5.2m in cash (including 0.3 M€ of restricted cash), down from €7.7m on December 31, 2013. Short term and long term bank debt on December 31, 2014 totaled €5.4m, up from €2m on December 31, 2013, following the €3.4m loan taken to finance AmberFin’s acquisition.

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Related Content:

Press Release: Dalet Revenues 2014 – €42.1 million, +15%

Previous Year: Dalet Revenue Grows 7 Percent in 2013 on Strong Sales of Newsroom Solutions

2012 Results: Dalet Reports 10 Percent Revenue Growth in 2012 Thanks to Strong MAM Sales

Broadcast Vendor M&A: Dalet Acquires AmberFin

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© Devoncroft Partners 2009-2015. All Rights Reserved.

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