OpenTV Reports Second Quarter 2008 ResultsThursday, August 7th, 2008
SAN FRANCISCO — OpenTV Corp. (Nasdaq: OPTV), a leading provider of solutions for the delivery of advanced television and advanced advertising services, today announced financial results for its second quarter ended June 30, 2008.
Second Quarter 2008 Results
For the quarter ended June 30, 2008, revenues were $26.8 million, an increase of 17% over revenues of $23.0 million for the second quarter of 2007. Royalties and licenses revenues increased 29% to $18.2 million. Services and other revenues decreased 3% to $8.6 million. Adjusted EBITDA, before unusual items, was $2.5 million for the quarter ended June 30, 2008, compared to ($1.0) million for the second quarter of 2007.
Summary of Recent Announcements
The following is a summary of key press releases issued by the Company since its last earnings announcement:
— OpenTV announced the commercial launch by FOXTEL, Australia’s leading Pay TV operator, of the FOXTEL iQ2 platform, which is an advanced, quad-tuner, high-definition, PVR-enabled set-top box running on OpenTV Core2;
— OpenTV announced that NBC Universal had selected the OpenTV Participate solution to power, centralize and manage cross-platform interactive television applications, including Web, mobile and set-top box, for NBC Universal’s broadcast and cable networks;
— OpenTV announced the general availability of OpenTV EclipsePlus, its next generation campaign management solution, which provides advanced traffic and billing features to cable networks;
— OpenTV announced that its Core2 and PVR2 middleware solutions had been selected by Brazil’s Net Servicos de Comunicacao S.A., the largest cable operator in Latin America; and
— OpenTV announced that STMicroelectronics (NYSE:STM), the world leader in set-top box chips, has joined OpenTV’s Rapid Porting Program, the OpenTV-led effort to provide rapid, high quality ports of OpenTV middleware to a wide range of chipsets and set-top boxes.
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