UK-based Vitec plc said that its revenue from the broadcast and film markets in 2010 was £121.6m, a decline of 17.3% versus 2009. Taking into account currency fluctuations and the company’s reduced revenue resulting from the sale of Clear-Com to HME, revenue declined by 6.6 percent. 2010 revenue was also impacted by the end its BAS transition contract.
Vitec’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.
Revenue from the company’s services division (primarily equipment rental company Bexel) was £34.3m in 2010, an increase of 30.4% versus 2009, driven by major events including the Winter Olympics.
The company said that the broadcast market improved in all geographies, driven by a recovery in TV advertising and the continued transition to HDTV operations.
The company says that it sees multiple growth opportunities in the broadcast and video market, including:
- LED lighting, which delivers significant energy saving over traditional lighting
- Business and industry applications for existing products;
- Microwave systems (outside the US)
- Robotics as video production becomes more automated
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You can read the full Vitec 2010 earnings press release here.
The Vitec earnings call presentation to financial analysts is here.
Information about Vitec’s results for the first half of 2010 is here.
Information on Vitec’s sale of Clear-Com to HME is here.
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