Technicolor posts 3.8% Q1 growth
April 25, 2014
Technicolor has reported its revenues for the first quarter of 2014.
“Technicolor delivered another strong quarter of performance,” said Frederic Rose, Technicolor Chief Executive Officer. “We made good progress in the first quarter in laying the foundation for delivering continued strong performance beyond 2015 with the signature of a major smartphone licensing agreement, record orders in Connected Home and Production Services and continued focus on internal IP generation across all activities. This performance has been recognised by the rating agencies and enables us to continue improving our balance sheet structure.”
* Continuing solid execution, with year-over-year revenue growth at constant rate of 1.4 per cent and of 3.8 per cent excluding legacy activities.
* Technology: another quarter of revenues above €100 million, supported by double-digit year-on-year growth in direct licensing programs, with a sustained level of new contract and renewals, offset by softness in MPEG LA revenues.
* Entertainment Services: good performance in Production Services, with double-digit year-over-year revenue growth in VFX, offset by unfavourable comparison to last year’s record slate in DVD Services.
* Connected Home: eighth straight quarter of double-digit year-over-year revenue growth, driven by strong volume increase in developed markets and significantly improved overall product mix.