Simon Woodward, CEO of digital TV software provider ANT, has implied that delays in agreeing product specifications that deliver the benefit of merged linear and Internet TV has affected the company’s revenues.
Woodward’s comments came as ANT reported a seven per cent drop in full year revenue to £4.35million (€5.14m) last year from £4.70 million in 2009, but reduced pre-tax losses to £0.58 million from £0.63 million the year before. Cash and other financial assets were “significantly ahead of expectations” at £4.97 million (£5.05 million in 2009). Operating costs fell by eight per cent to £4.43 million with the gross margin maintained at 87 per cent. Pre-tax losses fell by seven per cent to £0.58 million, with positive cash in-flow in the second half.
According to Woodward, ANT’s “unique solution to the TV industry’s demand for merged traditional and Internet TV services” positioned it at the heart of TV industry growth. “However, it is taking time for the TV consumer electronics industry to consolidate on product specifications that deliver this benefit to the consumer, which will drive revenue through to ANT,” he admitted.
“We have won several landmark contracts in an increasingly competitive environment and these successes, combined with the robust nature of our traditional operator-led business, tight operational and cash management, means we view the future with confidence,” he stated.