Tandberg TV Reports Q3
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.