OpenTV’s sales up in its last independent quarter
OpenTV’s 2009 revenue was up 3 percent from its sales in 2008, to $120 million, but income was down to $6.2 million, compared with $9.6 million in 2008.
By segment, revenue in the company’s middleware solutions unit increased by 5.7 percent to $109.1 million, while sales in the advertising solutions segment decreased 18 percent to $10.9 million.
The company is in the process of being acquired by the Kudelski Group. It said it is redeeming all of its outstanding Class A ordinary shares (other than any such shares held by its controlling shareholder, Kudelski SA, and two of its subsidiaries), a process it aims to complete by the end of today.
OpenTV intends to subsequently effect a voluntary delisting of its Class A ordinary shares from the Nasdaq board upon completion of the redemption.
Perhaps given that, the company provided no commentary with the publication of its results and skipped the common practice of supplying executive quotes. OpenTV also elected this quarter to not hold a conference call with analysts and reporters (on the other hand, its Q3 call was lightly attended).