ADB Group delivers a mid-period business update
(Thomson Reuters ONE) -
ADB Holdings S.A. / ADB Group delivers a mid-period business update processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement.
* Retail demand exceeding expectations in Italy
* Strong demand in IPTV, softer in cable and satellite
* New markets opened in Western and Eastern Europe
* Eight completely new products introduced in H1
* HD user interface Carbo(TM) gaining new customers; 3D version introduced
* Guidance for 2010 confirmed
Geneva - 27 April 2010
Advanced Digital Broadcast Holdings S.A. (SIX: ADBN) gave today an update on
the development of its business.
Demand for Group's products and services continues to be strong, especially in
Italy and Eastern Europe. IPTV business is growing significantly as the
telecom operators recover from their last year slow-down. At the same time,
cable and satellite business is developing slower.
The share of retail products in the sales mix was high as anticipated, due to
the demand in Italy. Consequently, the Group's revenue proportion coming out
of high-definition solutions was lower than in 2009, while still forming a
clear majority of the Group product sales. Products equipped with PVR function
generated slightly less than a half of the product revenue. Demand for hybrid
products continued to be strong, and sales of those products formed a clear
majority of the Group revenue.
The Group's new high definition user interface, Carbo, is redefining the
industry performance level; it is fast in response, intuitive and easy to use.
Carbo is also easy for the operators to deploy, as it fits practically every
open standard set-top box on the market. Unlike many other competitive
products, Carbo saves the operator significant costs as it needs virtually no
integration. As such, it is unique in the market.
In the area of new business development, the Group recorded the following
achievements:
* Launch of a new retail product, i-CAN(TM) Easy HD, for the UK market
* Contract with CableTel in Bulgaria, delivering high-end software and
hardware solutions
* Contract with Telecommunications Services of Trinidad and Tobago for IPTV
solutions
* Demonstration of Carbo 3D user interface in various trade shows and to
selected customers
* Established presence in India
* First prize in the IPTV World Forum for the Best Interactive TV
Service/Application.
During the first quarter, the Group also successfully closed its share
repurchasing program launched in September 2009. The Group owns today a total
of 1'190'580 of its registered shares. Out of this, 619'054, or 10% of its
issued and outstanding share capital, are to be cancelled.
The Group has noted the industry-wide electronic component shortage, and has
taken the appropriate actions to mitigate the situation. As the seasonality
reverts back to its normal pattern, the Group expects that a clear majority of
the yearly revenue will be recognized on the second half. With the current
good backlog and corrective measures taken, the Group maintains its guidance
for the full year.
Andrew Rybicki, Chairman and CEO, commented: "The year 2010 has been very
interesting and somewhat demanding for us thus far, as worldwide economic
recovery affects us both positively and negatively. While shortages of certain
components are challenging, the seasonality pattern is returning back to
normal, shifting the shipments towards the second half. Meanwhile, we have
already made significant moves in establishing ourselves in new markets, where
we have clearly demonstrated our technology and service capabilities. This has
been also helped by our focus on the software products, which is visibly
putting the company on a new track. Overall, this year will meet our
expectations as expressed through the guidance earlier in February."
ADB Group management will hold a telephone conference today to comment on
release, at 16.00 CET.
To connect to the conference call, participants should dial the following
number: +41 (0)44 580 64 03
During the presentation, please press "01" on your telephone keypad if you
wish to ask a question.
This press release and further information on ADB Group can be found on the
Group's website at www.adbholdings.com
For further information please contact:
Tina Nyfors
Executive Vice President
Corporate Development
Tel: +41 22 592 8433
Fax: +41 22 592 8432
t.nyfors(at)adbglobal.com
-end-
About ADB Group (SIX: ADBN)
ADB Group (www.adbholdings.com
1995 and is a leading developer of solutions required to view and interact
with digital TV broadcast through cable, satellite, terrestrial and IP
networks. The Group primarily sells consumer premise devices, including
set-top boxes, with over 15 million units deployed since 1997. The development
and sales of the Group's products and services are conducted through ADB
(www.adbglobal.com
(www.vidiom.com
This press release contains forward-looking statements. You are cautioned that
any such forward-looking statements are not guarantees of future performance
and involve risks and uncertainties, and that actual results may differ
materially from those in the forward-looking statements as a result of various
factors, among which:
* future developments of the world digital TV market, in particular the
future demand for digital TV products in the key markets and from key
customers served by our Group;
* pricing pressures, competitive market situation;
* our and the industry's capability to successfully and timely innovate and
develop challenging technology, and our capability to hire and retain
high-level employees;
* changes in the exchange rates between the US$ and the main other operating
currencies of the Group, including the Euro and the Polish Zloty;
* our ability in an intensive competitive environment, to continue securing
orders from existing or new customers and to achieve our pricing
expectations for volume supplies of new products in whose development we
have or are currently investing;
* the ability of our suppliers to meet our demands for supplies,
qualitatively or quantitatively, and to offer competitive pricing;
* our gross margin could vary significantly from expectations based on
changes in revenue levels, product mix and pricing, changes in unit costs,
and the timing and execution of shipments ramp-ups;
* changes in the economic, tax, social or political environment, including
import and other duties, military conflict, terrorist activities, as well
as natural events such as severe weather, health risks, epidemics or
earthquakes in the countries in which we, our key customers and our
suppliers operate;
* our ability to obtain required licenses on third-party intellectual
property on reasonable terms and conditions, the impact of potential
claims by third parties involving intellectual property rights relating to
our business, and the outcome of litigation;
* the results of actions by our competitors, including new product offerings
and our ability to react thereto;
Advanced Digital Broadcast Holdings SA undertakes no obligation to publicly
update or revise any forward-looking statements. Advanced Digital Broadcast
Holdings SA reserves the right to amend the information at any time without
prior notice.
The information contained in this press release may not be considered as being
a substitute for economic, legal, tax or other advice and you are cautioned to
base investment decisions or other decisions on the content of this release.
You are recommended to consult your investment advisers or other advisers
prior to making any decision.
This press release is not an offer of securities for sale or a solicitation to
invest in Advanced Digital Broadcast Holdings SA securities. In particular, it
is not an offer of securities for sale in the United States of America, its
territories and possessions. Securities may not be offered or sold in the
United States absent registration or an exemption from registration under the
U.S. Securities Act of 1933, as amended. Advanced Digital Broadcast Holdings
S.A. does not intend to register its securities in the United States of
America.
[HUG#1408415]
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ADB Holdings S.A.
Avenue de Tournay 7 Chambesy Switzerland
ISIN: CH0021194664;
ADB Group delivers a mid-period business update: http://hugin.info/136393/R/1408415/361147.pdf
Unternehmensinformation / Kurzprofil:
Datum: 27.04.2010 - 06:01 Uhr
Sprache: Deutsch
News-ID 19694
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Town:
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Kategorie:
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