TANDBERG Television Delivers $100M Revenues in Q206.OSLO, Norway -- Financials TANDBERG Television (OSE OSE - Open Systems Environment :TAT) delivered revenues of MUSD 100.1 in 2Q06, up 40% compared to MUSD 71.2 in 2Q05. The gross margin was 58.2%, up from 55.1% in the same quarter in 2005. Operating profit was MUSD 18.9 compared to MUSD 12.2 in the same quarter last year. Pre-tax profit was MUSD 21.3, up from MUSD 12.2 in the same period in the previous year. The cash balance at the end of the quarter was MUSD 95.7 and included net cash income from operations of MUSD 8.2 down from MUSD 13.0 in the same period in 2005. Net cash inflow in the quarter was MUSD 6.3. Total assets for the group were MUSD 538.5, with an equity ratio of 84% at 30 June 2006. Total shares outstanding at the end of the quarter were 80,529,876. Market & Products 2Q06 saw TANDBERG Television maintain its position as a clear technology leader in the digital media infrastructure market. During the quarter TANDBERG Television exhibited its integrated compression, on-demand and interactive solutions and delivered addresses at over 15 industry events in Asia, Europe and North America. These included Broadcast Asia in Singapore, The ANGA ANGA Associazione Nazionale Giovani Agricoltori (Italian: National Association of Young Farmers; Italy) Cable show in Cologne and the National Association of Broadcasters (NAB) convention in Las Vegas. TANDBERG Television made a major impact at these important exhibitions with demonstrations of HD MPEG-4 compression, the launch of a new IP-based systems architecture and new on-demand and interactive applications for digital television systems. Our presence at these industry events under the newly integrated TANDBERG Television brand met with a very positive market reaction as the company continues to differentiate itself based on best in class technology and an increasingly broad scope of supply. At the Broadband World Forum in Hong Kong the International Engineering Consortium (IEC) presented TANDBERG Television with an InfoVision Award for its High Definition Intelligent Compression Engine (HD-ICE) for MPEG-4 AVC and SMPTE (Society of Motion Picture and Television Engineers, White Plains, NY, www.smpte.org) A professional society for motion picture and TV engineers with more than 9,000 members worldwide. It prepares standards and documentation for TV production. VC-1. TANDBERG Television delivered continued momentum in HDTV (High Definition TV) A set of digital television (DTV) standards that offer the highest resolution and sharpest picture. Although some HDTV sets are available in standard (rather square) screen sizes, the overwhelming majority of sets are wide screen, which eliminates , 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. and digital television market with key contracts and deployments across all regions: --In the Americas a further order from a leading satellite digital television service provider valued at MUSD 5.9 --In the EMEIA EMEIA Europe, Middle East, India & Africa region, Estonia's Levira selected TANDBERG Television for MPEG-4 AVC digital terrestrial roll-out and we experienced a consumer-driven increase in HD encoding demand in the run-up to the FIFA FIFA International Association Football Federation [French Fédération Internationale de Football Association] FIFA n abbr (= Fédération Internationale de Football Association) → FIFA f 2006 World Cup --In APAC a deal with Japan's NTT to expands its IPTV rollout in Japan and the provision of HD MPEG-4 AVC encoding for CCTV to deliver to FIFA 2006 World Cup across China TANDBERG Television made a number of executive appointments in the quarter, strengthening its existing team with proven industry leaders in the sales and systems architecture functions. Outlook The Board continues to be encouraged by a further quarter of top-line growth, solid gross margins and profitability. TANDBERG Television has continued to develop its strong technology portfolio and the Board supports the continued focus on successful integration and execution of the operational plan. Basis of Preparation The interim consolidated, financial statements have been prepared in accordance with 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) 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. 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. About TANDBERG Television Whether it's advanced compression systems, on-demand or interactive television, TANDBERG Television (TAT.OL) delivers the technology and expertise that is moving digital video forward. The company's award-winning solutions are used by the world's leading network operators, broadcasters and content owners to deliver new viewer experiences and advertising opportunities. With a broad suite of open, standards-based products, TANDBERG Television offers the highest quality digital TV solutions including IPTV, HDTV, video-on-demand, advertising on-demand, and interactive TV applications to customers in the Americas, Asia Pacific, Europe, Middle East and Africa. For more information, please visit www.tandbergtv.com. |
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