OpenTV Reports Third Quarter 2008 Results
Thursday, November 6th, 2008SAN FRANCISCO, Calif. — OpenTV Corp. (NASDAQ: OPTV), a leading provider of advanced television and advanced advertising services, today announced financial results for its third quarter ended September 30, 2008.
For the quarter ended September 30, 2008, revenues were $26.9 million, an increase of 14% over revenues of $23.7 million for the third quarter of 2007. Royalties and licenses revenues increased 2% to $16.5 million. Services and other revenues increased 39% to $10.4 million. Adjusted EBITDA, before unusual items, was $3.7 million for the quarter ended September 30, 2008, compared to a loss of $3.3 million for the third quarter of 2007.
Digital Device Shipments in millions:
2004 2005 2006 ----------------------- ----------------------- ----------------------- Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 ----- ----- ----- ----- ----- ----- ----- ----- ----- ----- ----- ----- Total 42.2 45.4 48.6 51.7 56.5 59.8 63.0 66.7 71.0 74.1 79.0 82.5 PVR 0.6 0.7 0.9 1.0 1.2 1.3 1.4 1.5 1.9 2.2 2.5 2.8 2007 2008 ----------------------- ----------------- Q1 Q2 Q3 Q4 Q1 Q2 Q3 ----- ----- ----- ----- ----- ----- ----- Total 88.4 92.1 96.1 101.0 106.7 111.7 115.8 PVR 3.1 3.5 4.0 4.5 5.3 5.7 6.3
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 acquisition or Ruzz TV, a provider of turnkey software solutions for television broadcasters. Ruzz TV’s key technology provides broadcasters with a platform that enables the optimization of broadcast play-out operations and the rapid deployment of highly flexible solutions across a broad range of operational areas. In addition, Ruzz is a leading developer of solutions that support content management and delivery across a wide range of platforms and formats.
- OpenTV and Adobe Systems Inc. announced a partnership to integrate Adobe® Flash® Lite™ software onto OpenTV middleware, which will complement OpenTV’s standard execution environment and HTML offerings, further enhance Web browsing capabilities and strengthen the development of rich applications and user interfaces in a converging digital media world.
- OpenTV and EventIS announced the introduction of an advanced video-on-demand solution for cable operators that will allow them to differentiate their service offerings through advanced features such as high-definition, start-over TV and catch-up TV. The OpenTV and EventIS solution has already been deployed at several major cable operators around the world, including Ziggo in the Netherlands, VOO in Belgium and StarHub in Singapore.
More: Earnings Release
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