OpenTV Reports Third Quarter 2009 Results

Tuesday, November 3rd, 2009 
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SAN FRANCISCO — OpenTV Corp. (NASDAQ: OPTV), a leading software and technology provider of advanced digital television solutions, today announced financial results for its third quarter ended September 30, 2009.

Third Quarter 2009 Results

For the quarter ended September 30, 2009, revenues were $31.8 million, an increase of 18% compared to $26.9 million for the third quarter of 2008. Royalties and licenses revenues increased 25.5% to $20.7 million. Services and other revenues increased 7% to $11.1 million. Adjusted EBITDA, before unusual items, increased to $4.4 million for the quarter ended September 30, 2009, compared to $3.7 million for the third quarter of 2008.

Summary of Other Recent Announcements

The following is a summary of key press releases since the Company’s last earnings release:

  • OpenTV extended its partnership with longstanding customer BSkyB and commenced work on a proof of concept which could lead to the deployment of OpenTV Core3™. As part of the arrangement, BSkyB also licensed OpenTV’s intellectual property rights to support ongoing development of the company’s digital television platform.
  • OpenTV won “Best Graphic and Design” at the AFDESI awards for OpenTV Core nX™, its advanced user interface. In addition, Dishtv, India’s leading direct-to-home operator, won AFDESI’s “New Entrant” award for its Dish ACTIVE portal, which is powered by OpenTV middleware.
  • Digiturk, a leading Turkish direct-to-home network operator, launched video-on-demand and high-definition personal video recording solutions through an innovative partnership with OpenTV, Irdeto, Pace plc and TeleIDEA. Digitürk is deploying advanced digital video offerings to its customers, including push and subscription video on demand (P/S-VOD) with high-definition personal video recording (HD PVR) functionalities. This is one of the first P/S-VOD offerings to be launched in a satellite environment and one of the most innovative solutions in the region.
  • OpenTV announced OpenTV Core3, a pioneering approach to the delivery of advanced television services. Engineered to enable technology choice by operators, OpenTV Core3 combines a top-to-bottom open architecture with a unique design that simplifies the integration and deployment of everything from complex user interfaces to consumer services and application widgets.
  • OpenTV announced that it is licensing its suite of application development tools to the developer community at no charge. The OpenTV SDK Development Suite is an integrated interactive application development environment for OpenTV middleware that allows developers to create applications for interactive television using the complete functionality of an OpenTV-enabled set-top box.
  • OpenTV announced that it will open its TV measurement platform allowing the developer community, data analysis partners and other service providers to integrate with OpenTV’s measurement solution more easily, and foster the creation of next generation set-top-box services with enhanced personalization features, such as addressable and interactive advertising, content addressability, and other value-added services.
  • OpenTV announced that EclipsePlus™, its campaign management technology, went live at Suddenlink Media, the advertising division of Suddenlink Communications, a leading US operator of cable broadband systems. OpenTV EclipsePlus will manage all of Suddenlink’s local ad sales operations for the operator’s Central and Western U.S. ad sales divisions.

More: Earnings Release