Contract wins boost Tandberg TV

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A string of new contract wins helped boost quarterly profits at digital technology provider Tandberg Television. The company posted a second-quarter pre-tax profit of NKr44.8m (£3.51m), up from NrK13.2m (£1.04m) in 2003.

Revenues soared 41% on the year to NrK342.6m (£26.87m). Gross profit margins for the quarter increased to 47.2% from 44.7% in the first quarter of 2004.

Tandberg Television has secured contracts to provide Belgacom with a TV over IP video system, and to provide Fox Network with high definition video compression systems as well as a satellite network digital upgrade.

In a statement, Tandberg Television said its long-term outlook was "positive" as the company continued "to deliver against its target of profitable growth". It added: "The company is experiencing a strong opportunity pipeline and is well positioned to take advantage of improving market conditions."

Lovelacemedia  |  15.07.2004

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