ADB provides business update

ADB Group has provided an upbeat assessment of its performance for the third quarter.

In a statement, the company said: “The Group’s business was sound during the third quarter of 2009. The margins and profitability ratios continue to be in line with expectations. The top line growth remains lower compared to previous years, as indicated in the full-year guidance. The Group also enjoys a strong financial position maintained throughout the quarter. The demand from cable and satellite segment remains strong, with the demand from terrestrial segment picking up and IPTV starting to follow. The customer trend of shifting towards high-end product continues. Respectively, the high-definition products contributed a significant majority of the product sales, with PVR set-top boxes forming a clear majority of the products sold. The Group continues in its dominant position as the leader in hybrid technology: most of the product sales today come from either hybrid or hybrid ready set-top boxes.”

ADB also provided a list of achievements in the third quarter. They include the delivery of high end IPV set-top boxes to Altibox in Norway; the launch of its first interactive DTT set-top box for the Italian market; the delivery of a state-of the-art hybrid set-top box to Poland’s ITI Neovision; and a deal to deliver a DTT set-top box to Spain’s Ikusi.