Technicolor Narrows Loss30 Jul, 2012 By: Chris Tribbey
Replicator and media technology company Technicolor reported higher revenues and lower losses for the second quarter of 2012, and expressed hope that both its physical disc and digital delivery businesses have bright futures.
For the second quarter of 2012 the Paris-based company reported revenue of €846 million ($1.04 billion), up from €747 million ($919.5 million) during the second quarter of 2011. For the first half of the year the company reported a loss of €26 million ($32 million), a contrast to the first half of 2011 when Technicolor reported a loss of €112 million ($137 million).
“Our solid first semester results in a difficult market environment are a good result, especially with regard to the confirmed recovery of [our] connected home business,” said Technicolor CEO Fred Rose.
Technicolor saw its technology licensing revenues grow more than 20% during the quarter, thanks to growth in overall digital TV and set-top box businesses. Also, DVD revenues were improved over the first quarter, the company reported. Digital delivery revenues were also up year over year, Technicolor reported.