CORRECTION FROM SOURCE: International Datacasting Announces Record Profitability and Revenues in Fourth Quarter and Fiscal Year-End 2011

OTTAWA, ONTARIO--(Marketwire - April 26, 2011) -

A correction from source is being issued with respect to the release sent out today at 5:00 PM EDT. The correction was made in the header of the table entitled "Consolidated Statements of Operations". The corrected version follows.

International Datacasting Corporation (TSX:IDC), a global leader in digital content distribution for the world's premiere broadcasters, today announced record-setting profitability and revenue results for the fourth quarter and fiscal year-end periods ended January 31, 2011.

Following two consecutive quarters of profitability, IDC's momentum continued as the Company posted its best ever results in the final quarter of fiscal 2011. Revenue increased 68% in the fourth quarter versus the same quarter in 2010, to $11.5 million, and EBITDA¹ increased to $1.5 million making it the most profitable quarter in the Corporation's history. Excluding the impact of changes in foreign exchange from the strengthening of the Canadian dollar, IDC's revenues grew by 79% in fourth quarter fiscal 2011 versus the same fiscal quarter in 2010.

International Datacasting's fiscal year-end 2011 revenue was $34.4 million, its best year ever, up 48% from fiscal 2010, and up 64% excluding the impact of foreign exchange. This solid growth reflects strong demand for IDC's advanced Pro Audio, Pro Video, Pro Data and Pro Cinema broadcast solutions and IDC Systems services worldwide.

4Q Fiscal 2011 Financial Summary

The final quarter of fiscal 2011 set record revenues, and IDC achieved the highest quarterly EBITDA(1) ever recorded by the Corporation.

• Revenue was $11.5 million, up 68%, compared to $6.9 million in 4Q fiscal 2010, and up 79% excluding the impact of changes in foreign exchange from the strengthening of the Canadian dollar.

• Gross profit margin improved to 43% in the quarter, from 40% in 4Q fiscal 2010.

• EBITDA(1) increased by $2.5 million to the highest quarterly level ever recorded by the Corporation, at $1.5 million or $0.03 per share, compared to a loss of $1.0 million or $0.02 per share in 4Q fiscal 2010.

• Net earnings increased by $4.5 million to $1.6 million, or $0.03 per share, compared to a net loss of $2.9 million, or $0.05 per share, in 4Q fiscal 2010.

Fiscal Year-End 2011 Financial Summary

IDC's reputation for excellence drove strong international demand, and together with a renewed emphasis on cost controls resulted in fiscal year 2011 being one of the most successful in the Corporation's history.

• Revenue was $34.4 million, up 48%, as compared to $23.3 million for fiscal 2010, and up 64% excluding changes in foreign exchange.

• Gross profit was $15.4 million, or 45% of revenues compared to 43% in fiscal 2010.

• EBITDA¹ increased by $3.4 million to $1.9 million or $0.05 per share, as compared to a loss of $1.5 million or $0.05 per share for fiscal 2010.

• Net earnings increased by $7.2 million to $0.6 million, or $0.01 per share, compared to a net loss of $6.6 million, or $.12 per share, for fiscal 2010.

"In fiscal 2011, IDC undertook a major restructuring and we are pleased to announce that our restructuring is mostly complete. Our revenues have grown to the highest level in our history, our margins have improved, our expenses have declined and we capped it off with our best quarter ever. This is a true testament to the dedicated work of our entire team," stated Adam E. Adamou, Executive Chairman, International Datacasting.

"Fiscal 2011 was a challenging yet rewarding year for IDC. Following the economic downturn, we successfully realigned our Corporation for profitability, integrated recent business acquisitions, created a new senior management team, and made improvements to core product areas," stated Frederick Godard, President and CEO, International Datacasting. "With these strategic changes in place, IDC is positioned more strongly than ever to drive innovation and exploit the evolving digital broadcast environment. Along with our global partners and premiere customers, we continue to build momentum in our core radio, data, broadcast video, digital cinema and IDC Systems services markets."

Conference Call

A conference call will be held on Wednesday, April 27, 2011 at 8:30 a.m. ET to discuss this announcement. The call may be accessed by dialing 1-613-233-1979 / 1-866-696-5910 with the pass code 1220537. A taped replay will be available until April 28, 2011 at 10:00 a.m. by dialing 1-800-408-3053 and reference the pass code 2335840. A live audio webcast of the conference call will be available at http://www.gowebcasting.com/2367. The webcast will be archived here for 365 days.

Forward-Looking Statements

This release may contain forward-looking statements reflecting IDC's objectives, estimates and expectations. Such statements may be marked by the use words such as "believe", "anticipate", "estimate", "looking ahead", "outlook" and "expect" as well as the conditional or future tense. Such statements involve risks and uncertainties and future results may differ materially from the Corporation's expectations. Factors that might cause a material difference include, but are not limited to, competitive developments, risks associated with IDC's growth, risks associated with any past or future acquisitions or divestitures, the development of the satellite datacasting market, regulatory risks, intellectual property infringement and other factors. Any forward-looking statements are provided to assist external shareholders in understanding IDC's expectations as at the date of this release and may not be suitable for other purposes. IDC assumes no obligation to update these forward-looking statements to reflect events or circumstances after the date hereof, except as expressly required by law. More detailed information about potential factors that could affect IDC's financial and business results is included in IDC's Annual Information Form dated April 29, 2011 and the other public documents IDC files from time to time with Canadian securities regulatory authorities.

A complete set of financial statements and management's discussion and analysis for the year ended January 31, 2011, FY2011 will be available at http://www.sedar.com/ or on the Investor Information section of IDC's website at www.datacast.com .

About International Datacasting Corporation (IDC):

International Datacasting Corporation (TSX:IDC) is a global leader in digital content distribution for the world's premiere broadcasters in radio, television and digital cinema. IDC offers a broad portfolio of advanced solutions including Pro Audio, Pro Video, Pro Cinema and Pro Data for implementing broadcast content contribution and distribution applications. IDC's solutions and IDC Systems are in demand for radio and television networks, digital cinema, 3D live events, distance learning, satellite news gathering, sport contribution, digital signage, and IPTV among others. IDC is headquartered in Ottawa, Canada, with regional offices in Arnhem, the Netherlands and in San Diego, California. IDC has installations in over 100 countries and service offices in Australia, Singapore and China with an international network of value-added partners and distributors.

(1) Earnings before interest, taxes, depreciation and amortization ("EBITDA") are a non-GAAP financial measure. EBITDA is not an earnings measure recognized by GAAP and does not carry standard prescribed significance. Our method for calculating EBITDA may differ from that used by other companies that use the same designation and the reader is advised that EBITDA should not be substituted for determining net income as an indicator of operating results or as a substitute for cash flows from operating and investing activities.