Narrowstep, the broadband TV company whose clients include Virgin Media, Telefonica and KPN, has announced increased quarterly losses of $2,791,190 (€1,873,911) for the three months to November 30, 2007 and a nine-month loss of $10,973,591. This compares to losses of $1,477,404 and $3,932,796 for the corresponding period in 2006.
“Now that the investment phase in our platform is behind us, we will continue to focus on driving revenue,” said David C. McCourt ,chairman and interim CEO. “We are excited about our pipeline of deals headed into 2008 and look forward to communicating the addition of new enterprise customers that fit our new strategic focus.”
The company has increased revenues by 49% compared with the same quarter of 2006. It has also decreased operating costs by 19% quarter on quarter.
On the technology side, Narrowstep has completed phase I of Microsoft Silverlight integration and upgraded its platform to Player 2.7.