ANT sees good progress in digital TV, losses narrow
ANT plc, provider of software and services for the delivery of digital TV, said its financial results for the year to end December are expected to be in line with market expectations.
Pre-tax loss is expected to be better than forecast and to have reduced from £1.0m in 2008 to around £0.7m. Cash balances at the year end remained strong at £5.0m (Dec 2008: £5.6m) and revenues are expected to be no less than £4.7m, representing growth of over 20%.
The Cambridge-based company also announced the extension of its licensing agreement with Cisco. The new agreement supports Cisco's plan to use ANT's Galio Platform across its mainstream cable market solutions.
The stock market responded by marking its share price up 8.5%. Its market capitalisation is now around £7.8m.
ANT said that the global recession has had "some impact' on the digital TV industry, it has witnessed encouraging developments over the past year. Of particular significance, was ANT's involvement in the launch of Hybrid Broadcast Broadband TV in Germany, extending ANT's reach into the retail market.
The ANT Galio Platform sits at the heart of many new global deployments and ANT has started 2010 with a strong pipeline of new business, the company said.
An update will be given in the final results announcement.
CEO Simon Woodward said: "ANT continues to make solid progress, delivering revenue growth and reducing losses.
"We expect 2010 to be another year of significant development in the digital TV industry and with our strong industry relationships and market-leading TV service platform for the delivery of next generation TV; we continue to view the future with confidence."
