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Broadcast International Reports Full Year 2012 Results

SALT LAKE CITY, UT — (Marketwired) — 04/03/13 — (OTCQB: BCST) a leading provider of video-powered broadcast solutions, reported financial results for the fiscal year ended December 31, 2012.

Revenue was $7.5 million compared to $8.4 million in 2011. The decrease was primarily due to fewer expansion sites installed for the company-s largest digital signage customer.

Gross profit was a record $2.7 million or 36% of total revenue, an improvement from $2.6 million or 31% of total revenue in 2011.

Total operating expenses decreased 17% to $8.8 million from $10.6 million in 2011. The decrease was primarily due to effective cost cutting programs.

Net income totaled $1.6 million or $0.02 per diluted share compared to $1.3 million or $0.02 per diluted share in 2011. The improvement was primarily due to a gain on the extinguishment of debt, as well as a decrease in the company-s loss from operations, partially offset by a decrease in the amount of derivative valuation gain related to the company-s convertible notes and investor warrants.

Broadcast International is a leading provider of video-powered broadcast solutions, including IP, digital satellite, Internet streaming and other types of wired/wireless network distribution. BI-s patented CodecSys software is a breakthrough, multi-codec video compression technology that cuts video bandwidth requirements over satellite, cable, IP and wireless networks. By slashing bandwidth needs, CodecSys enables a new generation of rich-media applications and offers unprecedented price/ performance benefits for existing applications. Broadcast International is a public company (OTCQB: BCST) headquartered in Salt Lake City, UT.

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All statements in this news release that are not based on historical fact are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (which Sections were adopted as part of the Private Securities Litigation Reform Act of 1995). While management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of our control, that could cause actual results to materially differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth under the caption “Additional Factors That May Affect Our Business” in the Company-s most recent Form 10-K and 10-Q filings, and amendments thereto. In addition, we operate in a highly competitive and rapidly changing environment, and new risks may arise. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. We disclaim any intention to, and undertake no obligation to, update or revise any forward-looking statement.

Cameron Francis
Vice President Products
Broadcast International

Michael Koehler or Matt Glover
Liolios Group, Inc.

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