TANDBERG Television Announces 3Q06 Revenue of $80.7m.OSLO, Norway -- TANDBERG Television (LSE LSE - Language Sensitive Editor :TAT) Financials TANDBERG Television delivered revenues of $80.7m in 3Q06, up 9% compared to $74.4m in 3Q05. The gross margin was 58.2%, up from 56.0% in the same quarter in 2005. Operating profit was $9.2m compared to $15.1m in the same quarter last year. Pre-tax profit before associate company results was $9.3m, compared to $16.3m in the same period in the previous year. TANDBERG Television also delivered a one-off net gain of $7.1m from the sale and write-down of associate companies in 3Q06, taking full pre-tax profits to $16.4m. The cash balance at the end of the quarter was $124.4m and included net cash income from operations of $21.7m, up from $3.5m in the same period in 2005. Net cash inflow in the quarter was $28.7m after cash received for the disposal of TANDBERG Television's minority holding in GoldPocket Wireless and the completion of the acquisition of Zetools Inc in 3Q06. Total assets for the group were $556.7m, with an equity ratio of 84% at 30 September 2006. Total shares outstanding at the end of the quarter were 80,529,876. Market & Products 3Q06 saw TANDBERG Television continue to set the standard for the digital media industry as the company launched several industry leading technologies for video compression, on-demand and interactive television at the IBC IBC International Building Code IBC Iraq Body Count IBC Institutional Biosafety Committee IBC Inflammatory Breast Cancer IBC International Business Company IBC Independence Blue Cross IBC Insurance Bureau of Canada IBC International Broadcasting Convention event in Amsterdam. The company built on its market lead in video compression with the launch of its second-generation high definition (HD) and standard definition (SD) MPEG-4 AVC encoding solutions. These solutions definitively raise the bar in digital video distribution by combining the broadest choice of density with industry leading performance and provide bandwidth improvements of up to 50% over currently deployed MPEG-4 AVC units. The company's technology lead was recognized in the industry with two prestigious Cable & Satellite International Product of the Year Awards. The TANDBERG RX1290 multi-format professional receiver won the award for best satellite contribution/distribution/transmission solution, while the TANDBERG zBand[TM] platform won best content-on-demand solution. The double success built on the company's six nominations - the most for any company at this year's event. Further recognition came from leading industry analyst In-Stat as they named TANDBERG Television the leader in the global real-time MPEG encoding sector and the Multimedia Research Group (MRG MRG Merge MRG Minority Rights Group International MRG Mad River Glen (Vermont) MRG Mouvement des Radicaux de Gauche (French: Left Radical Movement) MRG Manyetik Rezonans Görüntüleme ) ranked TANDBERG Television as the number one IPTV (Internet Protocol TV) Also called "TV over IP," IPTV delivers scheduled TV programs and video-on-demand (VOD) via the IP protocol and digital streaming techniques used to watch video on the Internet. video head-end supplier in EMEA (Europe, Middle East, Africa) Refers to that region of the world. For example, one might see products packaged differently for the UK, EMEA and Asia Pacific markets. , Asia, and rest of world. Lastly, TANDBERG Television's low-cost HD/SD wireless camera system was given a Best of IBC 2006 Editors' Award for new product innovation by TVBEurope and The IBC Daily. TANDBERG Television secured contracts for the provision of a $3.5M Europe DTH (Direct-To-Home) Typically refers to satellite TV broadcasting directly to a dish antenna on the roof of a house. See DBS. satellite upgrade, MPEG-4 AVC solutions for Telenor's digital terrestrial roll-out, and HD and SD systems for US satellite service MyNetworkTV. Momentum in the global high definition TV market remains strong and the company's industry leading video compression performance enabled it to grow its installed base of HD MPEG-4 AVC with a $4M+ contract in the US and a deal to provide French satellite pay-TV operator CANALSAT. The IPTV market has recently started to show signs of renewed growth, especially in the tier 2 and 3 telco space, and TANDBERG Television has secured a number of contracts for IPTV head-ends including Deutsche Telekom subsidiary Croatian T-Com, Latin America's IPTV Americas and America's Horizon Chillicothe Telephone. Most recently, Sasktel announced the commercial deployment of the first IPTV HD offering in North America utilizing TANDBERG Television's compression technology. TANDBERG Interactive solutions were deployed by a number of North American TV companies including Discovery Channel for its new Discovery Atlas service, by TSN to enhance TV viewing of the Canadian Football league Canadian Football League (CFL) Major Canadian professional gridiron football organization, formed in 1958. The league's Western Conference includes teams from Edmonton, Calgary, British Columbia, Saskatchewan, and Winnipeg; its Eastern Conference comprises teams from and by NBC to provide audiences of the 58th Primetime Emmy Awards telecast with exclusive, live behind-the-scenes access via broadband TV interactivity. Basis of Preparation The interim consolidated, financial statements have been prepared in accordance International Financial Reporting Standards International Financial Reporting Standards (IFRS) are standards and interpretations adopted by the International Accounting Standards Board (IASB). Many of the standards forming part of IFRS are known by the older name of International Accounting Standards (IAS). (IFRS IFRS International Financial Reporting Standard(s) IFRS Inter Frame Relay Service IFRS Indiana Facilities Registry System ) and IFRIC IFRIC International Financial Reporting Interpretations Committee IFRIC International Financial Reporting Issues Committee interpretations issued and effective at the time of preparing these statements. All figures are quoted in US Dollars. The Board of Directors of TANDBERG Television ASA Asa (ā`sə), in the Bible, king of Judah, son and successor of Abijah. He was a good king, zealous in his extirpation of idols. When Baasha of Israel took Ramah (a few miles N of Jerusalem), Asa bought the help of Benhadad of Damascus and Jan Chr. Opsahl, Chairman Eric Cooney, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. |
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