The firm's earnings before interest, taxes, depreciation and amortization fell to a loss of $1.4 million or two cents a share, compared with earnings of $1.6 million or three cents a share in fiscal 2011.
Revenue also fell by 15 per cent to $29.4 million. The difference is 12 per cent when taking into account changes in foreign exchange rates, IDC stated.
"(The result) was due in part to the effect of a significant write-down in the value of inventory associated with legacy businesses of IDC, as well as softening in our legacy markets. However, seeds were planted, which we expect will germinate in fiscal 2013 and create a much more competitive and successful IDC," stated CEO Frederick Godard.
The firm, he added, has been streamlining its operations for the past two years and is introducing new products and technologies to expand available markets.
As an example, at the recent National Association of Broadcasters' Convention, the firm launched a product that lets direct-to-home satellite operators give existing content to a mostly new set of subscribers, namely multi-dwelling units, gated communities, and hotels. It will integrate services such as video on demand over Ethernet.
"This is not to abandon historic markets and customer relationships, but to build upon our existing strengths to increase the addressable market reach of IDC," Mr. Godard stated.
"This long-term transformation is being executed with the objective of launching IDC into markets capable of driving sustained growth."
IDC bills itself as a digital content distributor for broadcasters.
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