Vecima Networks Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended March 31, 2013. For the quarter, the company announced sales of CAD 21,630,000 compared to CAD 25,838,000 for the same period a year ago. Operating income was CAD 2,223,000 compared to CAD 7,186,000 for the same period a year ago. Income before income taxes was CAD 2,727,000 compared to CAD 7,348,000 for the same period a year ago. Net income and total comprehensive income was CAD 2,016,000 or CAD 0.09 per basic and diluted share compared to CAD 6,156,000 or CAD 0.28 per basic and diluted share for the same period a year ago. Cash flows generated from operating activities was CAD 8,664,000 compared to cash flows used in operating activities of CAD 3,570,000 for the same period a year ago. Purchase of property, plant and equipment was CAD 469,000 compared to CAD 772,000 for the same period a year ago. EBITDA was CAD 4.6 million compared to CAD 9.6 million for the same period a year ago. Adjusted EBITDA was CAD 4.5 million compared to CAD 2.7 million for the same period a year ago. The improvement in EBITDA was primarily driven by an increase in the volume of newer, higher margin products sold. For the nine months, the company announced sales of CAD 70,133,000 compared to CAD 67,055,000 for the same period a year ago. Operating income was CAD 19,817,000 compared to CAD 13,072,000 for the same period a year ago. Income before income taxes was CAD 20,378,000 compared to CAD 13,635,000 for the same period a year ago. Net income and total comprehensive income was CAD 16,434,000 or CAD 0.73 per diluted share compared to CAD 11,612,000 or CAD 0.52 per basic and diluted share for the same period a year ago. Cash flows generated from operating activities was CAD 22,116,000 compared to cash flows used in operating activities of CAD 782,000 for the same period a year ago. Purchase of property, plant and equipment was CAD 1,725,000 compared to CAD 2,483,000 for the same period a year ago. The company provided earnings guidance for the fiscal year 2013. For the year, the company expects its gross margins will be above historical range of 35% to 40%. As a result of improving margins and controlling costs, the company expects its adjusted EBITDA will improve by over 40% versus fiscal year 2012. The company is lowering estimate for capital expenditures for fiscal year 2013 to be in the range of CAD 2.8 million to CAD 3.5 million. The company expects its cash position to further strengthen in future quarters.

Vecima Networks Inc. announced that they will report Q3, 2013 results Pre-Market on May 14, 2013

Vecima Networks Inc. announced that it has appointed Vincent Gallant as a new director to the company's board effective May 7, 2013. Mr. Gallant is President of Blackline Financial Inc. Vince received a BA (Economics) from the University of Alberta and articled to become a Chartered Accountant (CA) with KPMG. Most of his career has been spent working for medium and large public companies in senior finance roles. Vince was Controller for Alberta Energy Company Ltd. (AEC and now part of EnCana), Controller for Edmonton Telephones (ED TEL and now part of TELUS) and Vice President Finance for North American Energy Partners Inc. (NAEP). Mr. Gallant was also corporate secretary to the board of directors for NAEP and was CFO for Titanium Corporation Inc.