Curse of Open TV hits Kudelski (Kudelski in trouble?) | |
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09-11-2007
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Curse of Open TV hits Kudelski   Kudelski Group issued a profits warning Nov 8 because of lower Open TV earnings. Conditional Access and middleware specialists Nagra Kudelski revised its 2007 profits guidance downwards to reflect a SFr 18m ($15.9m) downward fall at Open TV which has suffered a “soft” quarter, according to Open TV’s COO Ben Bennett. Total Kudelski Group revenues will now be at “the lower” end of the SFr 940m-955m ($831m-$844m). Open TV is selling its PlayJam interactive games business, so that it can concentrate on its middleware “core business”. PlayJam’s sale should conclude by year end. Three points were stressed in the profits warning. First, Open TV’s fall in revenues, already mentioned; second, Kudelski customers “rescheduling of two projects to the first half 2008 as well as the costs of the announced migration of 10 million active cards to the rental model affect the Digital TV division last quarter’s profits”. Point three highlighted that Kudelski is further intensifying its R & D efforts in the second half of this year with the intent of accelerating the release of its new core digital TV solutions. Open TV on Nov 7 also talked about renewing two key licenses with cable company UPC and EchoStar. Perhaps more importantly Open TV reported that its long litigation battle with Liberate Technologies might soon end and that a proposed “consent judgment” was now before the Court for approval. Open TV’s Q3 bottom line was a five per cent fall in revenues (compared to Q3/2006) from $25m to $23.7m with PlayJam’s numbers stripped out. This translated into a $3.3m EBITDA loss (compared with a $2m profit this time last year). Net loss for Q3 was $8.2m (loss of $1.8m last year). Open TV’s BettingCorp division suffered a 93% loss in revenues from $2.7m to just $200,000. thanks to Chris Forrester About OpenTV OpenTV is one of the world's leading providers of solutions for the delivery of advanced digital television and cross-platform interactive services. The company's software has been integrated in over 92 million digital set-top boxes and television around the world. The software enables enhanced program guides, video-on-demand, personal video recording, enhanced television, interactive shopping, interactive and addressable advertising, games and a variety of consumer care and communication applications. For more information, please visit h**p://www.opentv.com. | ||
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