OpenTV’s decision to focus on key business areas paid off in the first quarter as the technology company reported strong revenue growth in its Middleware Solutions segment.
First quarter revenues increased to $33.8 million (€21.77m) from $25.1 million in the corresponding period in 2007. Net income for the first quarter of 2008 was $6.3 million compared to a net loss of $3.1 million in the first quarter of 2007.
Chief executive officer Ben Bennett said strategic initiatives implemented during 2007 would continue to drive improvements in execution and performance. “Moving forward, we continue to pursue new middleware opportunities in emerging markets as well as expand relationships with existing customers in more mature markets”
Picking up on the industry’s renewed enthusiasm for personalised advertising, Benner said OpenTV’s EclipsePlus would be made generally available later this month.
