ViXS reports first quarter 2016 results

34% Revenue Growth and 65% Comprehensive Loss Improvement Year-Over-Year

TORONTO, ON — ViXS Systems Inc. (TSX: VXS), a pioneer and leader in media processing solutions, reported its first quarter results for the period ending April 30, 2015 today. All results are reported under International Financial Reporting Standards (“IFRS”) and in U.S. dollars, unless otherwise specified. ViXS reported Q1FY16 revenue of $10.0 million, total comprehensive loss of $(1.8) million and non-IFRS net loss of $(1.4) million.

Revenues for the first quarter of fiscal 2016 were $10.0 million, a 34% increase from the first quarter of fiscal 2015. Revenues declined from the previous quarter by $1.3 million due to quarterly fluctuations in our next generation products and seasonal softness in older products.

Customer, Product and Corporate Announcements

• Imagine Communications employs ViXS’ XCodePro in its SelenioNext all-in-one TV Everywhere solution.
• Leading hotel brand commences trials of ViXS’ Ethernet-over-Coax product with deployments anticipated during the second half of this fiscal year.
• XCodePro 370 Decoder launches, integrating new features including High Dynamic Range (HDR) and 12-bit color.
• Next Generation Golden Reference Decoder launches, a tool for the broadcast industry to test, validate, debug and deploy Ultra HD HDR content.
• New General Counsel, Michael Michalyshyn, joins VIXS’ management team.