OpenTV stays in the black

By Julian Clover | May 8, 2009

OpenTV stepped back slightly in the first quarter, but the company said it remained on track, remaining profitable and reporting revenues of $29.4 million.

“Our first quarter results show sustained profitability and operational improvements achieved in a difficult global economic environment. Our outlook for 2009 remains cautiously optimistic for the digital television industry as a whole, and we will continue to execute and innovate in order to further strengthen our competitive market position,” said Ben Bennett, OpenTV’s Chief Executive Officer.

Numbers fell back across the board with Services seeing the biggest fall of 32.8%. Adjusted EBITDA decreased to $4.1 million for the quarter ended March 31, 2009, compared to $7.6 million for the first quarter of 2008.