DivX Q3 Revenue Down9 Nov, 2009 By: Chris Tribbey
Digital media company DivX reported revenue of $16.6 million for the three-month period ended Sept. 30, down from $19.1 million during the same period in 2008.
“We are moving beyond our core DVD licensing business into new categories such as Blu-ray players, digital televisions, mobile phones and set-top boxes, driven by our substantial progress with premium Hollywood content initiatives and our DivX Plus high-definition software and hardware solutions,” said DivX CEO Kevin Hell.
Profit for the quarter was $4 million.
Along with its third-quarter results, the company announced it had promoted Matt Milne to SVP and GM of DivX licensing. He replaces Eric Rodli, who left the company.
DivX also announced it will demo an Internet TV solution at the Consumer Electronics Show in January.