Video hardware

Tandberg TV Reports Q3

OSLO, Norway -- TANDBERG Television delivered revenues of $80.7m in 3Q06, up 9% compared to $74.4m in 3Q05. The gross margin was 58.2%, up from 56.0% in the same quarter in 2005. Operating profit was $9.2m compared to $15.1m in the same quarter last year. Pre-tax profit before associate company results was $9.3m, compared to $16.3m in the same period in the previous year. TANDBERG Television also delivered a one-off net gain of $7.1m from the sale and write-down of associate companies in 3Q06, taking full pre-tax profits to $16.4m.

The cash balance at the end of the quarter was $124.4m and included net cash income from operations of $21.7m, up from $3.5m in the same period in 2005. Net cash inflow in the quarter was $28.7m after cash received for the disposal of TANDBERG Television's minority holding in GoldPocket Wireless and the completion of the acquisition of Zetools Inc in 3Q06. Total assets for the group were $556.7m, with an equity ratio of 84% at 30 September 2006. Total shares outstanding at the end of the quarter were 80,529,876.

Market & Products

3Q06 saw TANDBERG Television continue to set the standard for the digital media industry as the company launched several industry leading technologies for video compression, on-demand and interactive television at the IBC event in Amsterdam. The company built on its market lead in video compression with the launch of its second-generation high definition (HD) and standard definition (SD) MPEG-4 AVC encoding solutions. These solutions definitively raise the bar in digital video distribution by combining the broadest choice of density with industry leading performance and provide bandwidth improvements of up to 50% over currently deployed MPEG-4 AVC units.

Tandberg Television

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