Earnings, Revenue Down for Technicolor24 Feb, 2012 By: Chris Tribbey
Replicator and entertainment technology company Technicolor announced lower revenue and earnings for fiscal year 2011 Feb. 24, posting a full year loss of 303 million euros ($407.8 million).
That’s compared to a profit of 156 million euros ($210 million) for fiscal year 2010 for the Paris-based company.
Technicolor reported 2011 saw its highest-ever volume of DVD production (1.5 billion units), partly due to the first full year of handling product from Warner Home Video.
The company credited an increase in technology and entertainment services for offsetting a decline in digital delivery revenue, which was down more than 13%. Technicolor’s technology and entertainment services range from set-top boxes to software suites to digital 3D for theaters. For digital delivery, Technicolor offers connected home content platforms, media gateways for service providers and digital cinema services.
The company posted full-year revenue of 1.89 billion euros ($2.54 billion), down from 2.07 billion euros ($2.78 billion) in 2010.
“Technicolor is now poised to seize opportunities in an increasingly digitized world,” said company CEO Fred Rose. “… We have a clear roadmap to achieve our strategic ambition: Lead innovation in media monetization solutions. Technicolor is on track to grow profits and generate strong cash flow while significantly deleveraging its balance-sheet.”