Archive for May, 2011

Autodesk Media & Entertainment Revenue Jumps 15 Percent in First Quarter of 2011

Broadcast technology vendor financials, Quarterly Results | Posted by Joe Zaller
May 19 2011

Autodesk announced that its media & entertainment (M&E) revenue for the first quarter of 2011 was $53m, an increase of 15% versus the first quarter last year, and an increase of 2% versus the previous quarter. Gross margins in the M&E segment were 81% for the quarter.

Media & entertainment is the smallest of Autodesk’s four segments, accounting for about 10% of the company’s total revenue in the first quarter of 2011.

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Related Content:

Press release: Autodesk Reports 11 Percent First Quarter Revenue Growth

Autodesk Q4 Media and Entertainment Revenues Increases 12 Percent

Press Release: Autodesk announces revenue for first quarter of 2010

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Vizrt Revenue Up 18 Percent in Q1 2011, CEO Says Company Has Entered Phase of Strong and Stable Growth

Broadcast technology vendor financials, Quarterly Results | Posted by Joe Zaller
May 19 2011

Vizrt  reported that its revenue for the first quarter of 2011 was $28m, an increase of 18% versus the same period a year ago, and a decline of 12% versus the previous quarter.

Gross margins in the quarter were 62%, up from 58% last year.  EBITDA was $3.97m for the quarter, an increase of 125% versus the first quarter of 2010. Net profit for the quarter was $2.1m versus a loss of $448,000 last year. Net cash provided by operating activities in Q1 2011 was $2.4m, the same as in Q1 2010.

Operating expenses in the quarter were $15.1m an increase of 10% versus last year.  The company attributed the increase in OPEX to an increase in headcount following its acquisition of Adactus, the implementation of its regionalization program, and a general salary increase implemented throughout the company in 2011.  The largest increase in expenses came from R&D, which were up 19% versus last year.

Broadcast graphics (BG) contributed $20m or 71% of total revenue in the quarter.  BG revenue was up 13% versus the first quarter of 2010, but down 14% versus the previous quarter.

Media Asset Management (MAM) accounted for 18% of revenue or $5m, an increase of 13% versus last year.

Online and Mobile (OLM) revenue was $3m in the quarter, an increase of 82% the first quarter of 2010, and an increase of 6% versus the previous quarter. Overall, OLM accounted for 11% of total revenue in the quarter. The company said the strong increase in OLM revenue was driven by a transaction with a large existing broadcast customer in Northern Europe, and the contribution from Adactus which was acquired last year.

On a geographic basis, sales in EMEA were $14.9m, or 53% of total revenue. EMEA revenue was up 13% versus the same period a year ago, and down 10% versus the fourth quarter of 2010. Sales in the Americas were $6.5m, or 23% of total revenue.  Sales in the Americas were up 26% versus the first quarter of 2010 and down 10% versus the previous quarter. Sales in Asia were $6.6m for the first quarter, up 24% versus the same period a year ago, and
basically flat sequentially.

Vizrt CEO Martin Burkhalter issued an optimistic statement about the company’s prospects.  “Over the past few quarters, the company has entered a phase of strong and stable growth.  This growth is on the one hand caused by the continued recovery of the general economic climate but on the other hand very much the result of our strategy execution. Although it is too early to make a prediction for the remainder of this year, for the immediate future we anticipate further stable growth.”

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Related Content:
Press release: VizrtReports Q1 2011 Results

More Broadcast Vendor M&A: Vizrt Completes Acquisition of LiberoVision

Vizrt Reports Record 2010 Revenue as Sales Jump 23 Percent

Vizrt reports increased revenue for first quarter 2010

 

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Vitec Expects Full Year Profits Will Be Above Expectations

Broadcast technology vendor financials, Quarterly Results | Posted by Joe Zaller
May 19 2011

The Vitec Group plc said in an interim management statement that it expects pre-tax profits for the full year to be slightly ahead of the top end of the range of current market expectations.  The company said that its trading in 2011 “has been encouraging, with a continued improvement in demand from all three markets” — broadcast, photographic and military.

The company’s Videocom division includes a dozen brands that serve various parts of the broadcast industry: Anton/Bauer, Autoscript, The Camera Store, Litepanels, Microwave Service Company, Nucomm, OConnor, Petrol Bags, RF Central, Sachtler, Vinten and Vinten Radamec.

Vitec also owns broadcast equipment rental and service provider Bexel.

Vitec says that it has seen steady improvement in demand from the broadcast market, and that revenue from both Camera Dynamics and Litepanels are up for the first four months of the year versus the same period a year ago.

Bexel has “had a good start to the year [but] as expected, revenue was lower than the corresponding period in 2010, which included the Vancouver Olympic Games.”

In 2010 Vitec had revenue of £121.6m in the broadcast and film markets. 2010 revenue from Bexel was £34.3m in 2010.

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Related Content:

Vitec Interim Management Statement, May 2011

Vitec 2010 Full Year results presentation

Vitec Announces 2010 Results: VideoCom Revenue Falls, Services Post Strong Increase

Vitec 2010 earnings call presentation to financial analysts.

Information about Vitec’s results for the first half of 2010 is here.

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Vislink Says Orders Up in Q1, Expects to Post Smaller Loss for First Half of 2011

Broadcast technology vendor financials, Quarterly Results | Posted by Joe Zaller
May 18 2011

UK-based Vislink plc, which owns the Advent, Link, and MRC brands, said in an interim management statement that it expects to post a loss in the first half of 2011 that is less than the loss it posted for the first half of 2010.

The company said its trading in the first quarter of 2011 was “in line with expectations,” and that orders and margins increased versus the same period last year, led by higher demand for its broadcast products in Asia and South America.

The company also said that its previously announced cost reduction program has lowered its total operating expenditure by almost 20% versus the first quarter of 2010.

Vislink says that new interim CEO John Hawkins is undertaking a full review of the business, with a focus on returning the company to profitable growth by the end of 2011. This review will include an assessment of growth opportunities and technology drivers.

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Related Content:

Vislink Interim Management Statement

Vislink News & Entertainment Revenue Declined 28 Percent in 2010

Vislink CEO to Step Down, Will be Replaced by New Chairman on Interim Basis

Vislink Lays off 25% of Workforce

Vislink Restructuring Operations. Announces M&A Program to Focus Business on IP Video for Broadcast and Public Safety Markets

Vislink Trading Update for 1H 2010

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More Broadcast Vendor M&A: TV One Acquired by Nortek, Inc.

Broadcast Vendor M&A | Posted by Joe Zaller
May 18 2011

TV One announced that it has been acquired by Nortek, Inc.  The sale includes all TV One related, wholly-owned companies in the US, UK, Taiwan and China. TV One will be included in Nortek’s Technology Products segment and closely aligned with Magenta Research LTD.

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Related Content:

Press Release: TV One Acquired by Nortek, Inc.

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ViewCast Reports Higher Losses in First Quarter of 2011

Broadcast technology vendor financials, Quarterly Results | Posted by Joe Zaller
May 18 2011

ViewCast reported that its revenue in the first quarter of 2011 was $3.71m, up slightly from $3.68m during the same period a year ago, and down from the previous quarter’s revenue of $5m.

Net loss for the quarter was $791,000 compared to a loss of $311,000 in the first quarter 2010, and net income of $142,000 during the fourth quarter of 2010.

On an operating basis, the company lost $750,000 in the quarter, compared to an operating loss of $284,000 last year.  The company said its operating expenses increased due to increased investments in new sales and marketing infrastructure and initiatives both domestically and overseas.

Company president and CEO Dave Stoner said, “Following a very strong fourth quarter and full year 2010, we saw typical seasonal pullback in the first part of the 2011 first quarter that was deeper than we had anticipated. We also saw sales flow and order activity pick up significantly in both March and April, giving us good momentum into Q2. Our sales pipeline across our product portfolio continues to be healthy and we are seeing both existing and new customers finding new and innovative uses for our digital encoders as they look for look for new ways to monetize their digital media assets. Our recently expanded sales force and distribution channels worldwide are already producing new opportunities and new business and we continue to anticipate a year of steady growth in 2011.”

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Related Content:
Press release: ViewCast Reports 2011 First Quarter Results

ViewCast Revenue Jumps 25 Percent in 2010, Posts Net Profit in Q4

ViewCast Reports 2010 First Quarter Results

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EVS Q1 Revenue Increases 8.7 Percent, Anticipating Strong Second Half of 2011

Broadcast technology vendor financials, Quarterly Results | Posted by Joe Zaller
May 12 2011

EVS, which provides video servers for live production and studio playout applications, announced that its revenue for the first quarter of 2011 was €22.7m, an increase of 9% versus the same period a year ago, and down 16% from the previous quarter.  Excluding currency fluctuations and big event rentals related to the 2010 Vancouver Olympics, the company said its revenue increased 19.7% versus last year.

The company also reported that its Q1 2011 results include one-time profit of a €5 million from the sale to Barco of the CineStore products from XDC, the digital cinema subsidiary of EVS.

Gross margins declined slightly to 77.2% due to product mix and increasing headcount, particularly in R&D, which EVS has been increasing for several quarters. Operating margins declined 15% to 39.8%.

On a segment basis, revenue in the quarter was evenly balanced between the studio and outside broadcast (OB) segments, making this the second quarter in succession that the studio segment has accounted for 50% of EVS revenue.  OB revenue was up 50.9% versus a weak first quarter of 2010, while the studio segment decreased by 15.1% compared to the same period a year ago. EVS said that in the first quarter of 2010 it had €2.4 million of rentals relating to the Winter Olympics (mainly studio related).

On a geographic basis:

  • Revenue from the EMEA region was €13.9m (61.3% of total revenue), an increase of 48% versus the same period a year ago.  The company said that its business in Europe continues to be steady and supported by a market that is slowly migrating to tapeless and high definition, and that it has won “significant Middle East customers” and also had wins in the UK, Scandinavia and Central Europe. Turmoil in Northern Africa is only slightly impacting EVS group sales.

 

  • Revenue from the Americas was €4.7m, and OB was up in the Americas by 71. The company says that Latin America is showing positive signs and that it is opening an office in Mexico.

 

  • APAC revenue declined 12% to €4.1m.  50% of APAC revenue was in the orders from studio segment, including an ongoing significant project for a new satellite air delay solution in SE Asia.

 

The company’s remarks about the quarter were cautious but positive. CFO Jacques Galloy said Q1 orders met company expectations, and that usual business seasonality and new product releases are positive signs for a strong  second half of the year.  Galloy was especially positive about the company’s prospects for 2012, saying. “Next year shall benefit from big sporting events and the current developments leveraging our position in studio niches.”

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Related Content:

Press Release: EVS REPORTS REVENUE AND RESULTS FOR 1Q11

EVS Q1 2011 earnings presentation to equity analysts

More Broadcast Vendor M&A: EVS Sells XDC CineStore Digital Cinema Technology to Barco

EVS Posts Record Revenue in 2010, Driven by Improving Market Conditions and Global Move to HDTV

Press release: EVS reports revenue and results to Q1 2010

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Dalet First Quarter 2011 Revenue Jumps 118 Percent

Broadcast technology vendor financials, Quarterly Results | Posted by Joe Zaller
May 10 2011

French asset management software provider Dalet announced that its consolidated revenues for the first quarter of 2011 were €7.2m, an increase of 118%.  These results include the company’s Italian subsidiary GruppoTNT, which it acquired in July 2010.  Excluding GruppoTNT, the company’s revenue was up 55% versus the same period a year ago.

The company indicated that the large year-over-year percentage increase in revenue was partially due to depressed sales during the first quarter of 2010, particularly in the United States.

Gross margins for the quarter were 86% on an organic basis, down from 91% a year ago.  Including GruppoTNT, the company’s gross margins were 69%, reflecting the large percentage of hardware sales in the GruppoTNT revenue mix.

Dalet says it expects it revenue to be equally balanced between the first and second halves of 2011, compared to 2010 when the majority of revenue came during the second half of the year.  The company says it has a strong pipeline, and expects to invoice €16.5m of this backlog during 2011.

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Related Content:
Press release: Dalet Revenues For First Quarter 2011: €7.2 Million

Dalet 2010 Revenue Increases 32 Percent

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Digital Vision Q1 Revenue Declines 27 Percent, New CEO Outlines Plan for Growth

Broadcast technology vendor financials, Broadcast Vendor M&A, Quarterly Results | Posted by Joe Zaller
May 10 2011

Sweden-based Digital Vision, a provider of tool to the post production industry, reported that its revenue for the first quarter of 2011 was $1.8m (SEK 11m,) a decline of 27% versus the same period last year, and a decline of 29% versus the previous quarter.  Orders in the quarter declined 21% to $2.06m (SEK 12.8m), versus the same period a year ago. Gross margins in the quarter were 76%, up from 74% last year.

These results do not include Image Systems, which was recently acquired by Digital Vision for $7.2m in cash and stock. The two companies were consolidated on the first day of the current quarter, so future results will include contributions from both Digital Vision and Image Systems.

In the future the Digital Vision name will be dropped, and the company will be known as Image Systems.  At the recent NAB tradeshow in Las Vegas, the company exhibited as Image Systems.

Newly appointed company president Michael Jacobson said that he created a three-stage plan for the company when he joined – merger, integration and growth.  “We have just completed merger phase with the launch of the new company at the NAB trade show in the U.S., where new products, new management and [the] new organization [was] presented,” he said.   Jacobson also reported that the company has identified and started to produce both cost and sales synergies, and that intensive work is underway to rapidly increasing profitability and significantly lower risk.

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Related Content:

Press release: Interim Report of Digital Vision AB (translated from Swedish)

Digital Vision Posts $6.9m Loss in 2010 as Sales Drop 27 Percent

Digital Vision Acquires Image Systems for $7.2m in Cash and Stock, Appoints New CEO

Digital Vision Announces Timetable for 100:1 Reverse Stock Split

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Ascent Media Will Take $1-2 Million Charge When It Shuts Down Systems Integration Business

broadcast technology market research | Posted by Joe Zaller
May 10 2011

Ascent Media, which has sold off its media and broadcast assets over the past year, said in a filing with the Securities and Exchange Commission, that it plans to shut down its systems system integration business and record a restructuring charge of $1 to $2 million.

The news comes a little more than a month after Ascent sent a letter to its partners and suppliers saying that Ascent would closing its systems integration business on or about May 1, 2011.

Here is the information from the SEC filing:

“The Content Services group includes the System Integration business, which provides program management, engineering design, equipment procurement, software integration, construction, installation, maintenance and support services for advanced technical systems for the media and telecommunications industries and other customers.

“In the second quarter of 2011, Ascent Media plans to shut down the System Integration business and record a restructuring charge between $1 to $2 million primarily for abandoned leases under the 2010 Restructuring Plan.

“The Content Services group had historically also included the Content Distribution business, which provided facilities and services necessary to archive, manage, and reformat media assets for distribution, as well as the infrastructure to assemble programming content and to distribute media signals via satellite and terrestrial networks. This business was sold to Encompass Digital Media, Inc. (“Encompass”) in February 2011 and has been treated as a discontinued operation for all periods presented.”

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Related Content:

Ascent Media 10-Q filing with SEC, May 9, 2011

Ascent Media Joins Azcar in Shutting Down Broadcast Systems Integration Business http://bit.ly/eMnoEU

Ascent Media 2010 annual 10-K filing with SEC

Broadcast Systems Integrator Azcar Technologies Ceases Operations

TVB article: Azcar Folds

Broadcast Engineering Article: Systems integrator AZCAR ceases business

Press Release: Ascent Buys Montronic

Ascent Sells Post Business to Deluxe

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