OpenTV Reaches Profitability Milestone
By Jeffrey Hill | February 27, 2009
[Satellite Today 02-27-09] OpenTV, a middleware and interactive solutions provider, reached full-year profitability for the first time in the company’s history, OpenTV announced Feb. 25.
The company recorded a 2008 profit of $9.6 million, rebounding from a loss of $5.2 million in 2007. Revenues jumped from $6.5 million to $116.5 million during the same period.
“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,” OpenTV CEO Ben Bennett said in a statement.