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Vecima Reports Strong Q1 Fiscal 2022 Results Revenue : $ 32.4M ( up 19 % YoY ) , Gross Profit : $ 15.7M ( up 24 % YoY ) , Adjusted EBITDA : $ 4.3M ( up 97 % YoY ) Gross Margin strengthens to 48.5 % . Cash Balance : $ 17.9M • Entra Family DAA sales climb to $ 18.1M , up 246 % YoY and 9 % QoQ VICTORIA , British Columbia -- ( BUSINESS WIRE ) -- November 12 , 2021 -- TML Vecima Networks Inc. ( TSX : VCM ) today reported financial results for the three months ended September 30 , 2021 . FINANCIAL HIGHLIGHTS ( Canadian dollars in millions except percentages , employees , and | per share data ) Revenue Gross Margin Net Income ( Loss ) Q1FY22 Q4FY21 Q1FY21 $ 32.4 $ 35.3 $ 27.3 48.5 % 42.4 % 46.2 % $ 0.7 $ 1.4 $ ( 0.8 ) $ 0.03 $ 0.06 $ ( 0.04 ) $ 0.03 $ 0.06 $ ( 0.04 ) $ 4.3 $ 5.7 $ 2.2 $ 17.9 $ 28.9 $ 27.3 492 481 456 Earnings ( Loss ) Per Share¹ Adjusted Earnings ( Loss ) Per Share 1,2,3,4 Adjusted EBITDA² Cash and Short - term Investments Employees 1 Based on weighted average number of shares outstanding . 2 Adjusted Earnings Per Share and Adjusted EBITDA do not have a standardized meaning under IFRS and therefore may not be comparable to similar measures provided by other issuers . See “ Adjusted EBITDA and Adjusted Earnings ( Loss ) Per Share " below . 3 Adjusted Earnings Per Share includes non - cash share - based compensation of $ 0.7 million or $ 0.03 per share for the three months ended September 30 , 2021. The non - cash share - based compensation primarily reflects certain performance - based vesting thresholds achieved under the Company's Performance Share Unit Plan . 4 Adjusted Earnings Per Share includes foreign exchange gain of $ 1.1 million or $ 0.05 per share for the three months ended September 30 , 2021 . " Fiscal 2022 got off to a strong start with first quarter sales climbing 19 % year - over - year to $ 32.4 million , even as we responded to continued supply chain challenges , ” said Sumit Kumar , Vecima's President and Chief Executive Officer . " Gross margin also strengthened to 48.5 % , and our adjusted EBITDA performance of $ 4.3 million was nearly double what we achieved in Q1 last year . " " Our Video and Broadband Solutions segment led the growth with sales of $ 24.3 million climbing 80 % year - over - year as several customers , including some of the world's largest Tier 1 operators , began and continued scale deployments of our Entra Distributed Access Architecture ( DAA ) solutions . Entra sales set a new quarterly record of $ 18.1 million , up 246 % year - over- year and 9 % quarter - over - quarter , continuing the growth trajectory from fiscal 2021. This was achieved despite significant logistics and freight hurdles experienced late in the quarter , with carriers failing to meet delivery commitments for scheduled and in - transit DAA shipments .