February 25, 2009
OpenTV has announced financial results for its fourth quarter and full year ended December 31st, 2008. OpenTV moved from a $5.2 million net loss in 2007 to a $9.6 million profit in 2008 on revenues of $116.5m against $110m in 2007.
"2008 marked the first profitable year in OpenTV's history. We exceeded both our revenue and net income guidance for the year by improving our service delivery to customers and by building a more efficient operating structure," said Ben Bennett, OpenTV's Chief Executive Officer. "We remain focused on growing our core businesses and continue to solidify our market position with the deployment to date by our customers of more than 121 million units. Although we are pleased with our 2008 results, we are also mindful of the current economic environment and the impact it may have on our customers and our business."