ADB boxes clever for solid 2011 profits
Editor ©RapidTVNews | 22-02-2012
Results broadly in line with expectations is the quiet understated way that ADB is describing its 2011 year end results which have shown revenue growth of 12% year on year to $399.0 million, and a gross profit of $ 124.0 million.
The entertainment services technology provider, including a range of STBs covering all platforms, attributes growth largely to the integration of new broadband business with sales of the digital TV equipment contributed strongly during the second half of the year.
In terms of revenue constitution by products and services, digital TV equipment brought in a total 58% of revenues, broadband products yielded 32%, while the customer care and other services grew to 10% of the Group 2011 revenue.
Geographically,
2011 marked a number of key business development activities for the company with the opening of the US cable market with Charter Communications and Time Warner Cable and ADB reported strong business in the Nordic countries has grown considerably as well as a new cable pay-TV customer in Belgium, VOO who will use an ADB-2840C high definition set-top for their interactive digital TV services including the the Carbo software stack which is already live on several networks worldwide.
Commenting on the results on what has been a year of some change for the company, chairman and CEO Andrew Rybicki said: "We expected the year 2011 to be a year of transformation, and it has certainly been one. We have changed our organisation, integrated the acquired broadband business into the Group, and streamlined our expenses and processes. Our customers' confidence in our products and services remains strong, despite certain quality issues we had experienced during the past year, which we are now correcting. I share this confidence and am glad to see the company shaping itself up to the new challenges in 2012 and beyond, particularly in the areas of product quality improvement, the services, and the focus on complete digital TV and broadband systems, connectivity and software - the pillars of our new strategy.”
Going forward ADB believes that the connectivity between any and every consumer device, mobile and stationary, will remain the main theme in the coming years and that it is particularly well equipped to take a prominent position in these developments, owing to its years-long experience in the digital TV combined with broadband communication expertise of the acquired entity, as well as to its successful in-house development of the service business.
As a result, ADB will create complete solutions in this area, which, along with associated services, will be offered to both the Group's traditional customers - pay-TV and telco operators - as well as to other interested parties.
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