ViXS Reports First Quarter Fiscal 2015 Results

Non-IFRS net income (loss) is defined as total comprehensive income (loss) before share-based transaction expense, exchange difference related to translating foreign operations and non-recurring or one-time items such as: share offering costs, listing fees, convertible preferred share revaluation adjustment, fair value adjustment on warrant liability, provision for repayable government assistance. Non-IFRS net income (loss) does not have any standardized meaning prescribed by IFRS and is not necessarily comparable to similar measures presented by other companies. Non-IFRS net income (loss) from operations should not be considered in isolation or as a substitute for comprehensive income (loss) prepared in accordance with IFRS.

ViXS has provided a comparison of comprehensive income (loss) to non-IFRS net loss in the following table:

                                             Three Month Period Ended       
(in thousands of U.S. dollars)          April 30,   January 31,   April 30, 
                                          2014         2014         2013    
Comprehensive loss for the period         ($5,113)     ($7,619)    ($24,878)
R&D adjustments                                                             
 Stock-based compensation expense              345          250           60
 Provision for repayment of                                                 
  government assistance                        111            -      (1,121)
Selling, general and administrative                                         
 Stock based compensation expense              199          251           75
Other Income/Expense adjustments                                            
 Listing Fees                                    -           15          300
 Accreted interest on provision for                                         
  repayment of government assistance             -          165            -
 Fair value adjustment on warranty                                          
  liability                                      -            -       18,219
Other adjustments                                                           
 Convertible preferred share                                                
  revaluation                                    -            -        1,185
 Exchange differences on translating                                        
  foreign operations                            30            -           40
Non-IFRS net loss                         ($4,429)     ($6,938)     ($6,120)

Non-IFRS EPS                               ($0.09)      ($0.14)      ($0.28)

About ViXS Systems Inc.

ViXS is the pioneer and market leader in designing revolutionary media processing semiconductor solutions for the broadcasting and consumer electronics industries, with over 461 patents issued and pending worldwide, numerous industry awards for innovation, and over 30 million media processor shipments to date. ViXS is driving the transition to Ultra HD 4K across the entire content value chain by providing professional and consumer grade chipsets that support the new High Efficiency Video Coding (HEVC) standard up to Main 10 Profile, reducing bandwidth consumption by 50% while providing the depth of color and image clarity needed to take advantage of higher-resolution content. ViXS' XCodePro 300 family is ideal for Ultra HD 4K infrastructure equipment, and the XCode 6000 family of system-on-chip (SoC) products achieve unprecedented levels of integration that enable manufacturers to create cost-effective consumer entertainment devices.

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