29 March 2012
Motive Television PLC (AIM: MTV.LN), the digital television technology, software and services provider, is pleased to announce its preliminary results for the year ended 31 December 2011.
- Revenue from continuing operations increased by 51% to £2,024,886 (FY 2010: £1,337,308)
- Gross profit from continuing operations increased by 139% to £753,976 (FY 2010: £314,851)
- Loss attributable to continuing activities remained flat at £2,544,419 (FY 2010: £2,483,133)
- Shareholder funds increased to £3,520,333 (2010: £2,723,822) including cash balances of £558,100 (FY 2010: £1,338,628)
- Loss per share from continuing activities decreased to 0.15p (FY 2010: 0.39p loss)
- Launch of Television Anytime Anywhere™ platform which integrates the Company's two core solution offerings and software brands
- Established United States subsidiary to address growing business in the Americas region
- Letter of Intent signed with CME Media Services Limited, a wholly-owned subsidiary of Central European Media Enterprises Limited (for the Television Anytime Anywhere™ solution)
- Announced joint-venture with Granite Broadcasting Corporation in the USA for Television Anytime Anywhere™ solution, with agreement for subsequent pilot programme
- Expansion into Latin America through agreement with Media Networks Latin America S.A.C. for Television Anytime pilot project
- Enabledthe broadcasting of 3D television to set-top boxes via DTT
- Launch of Video2Go product, enabling the seamless loading of recorded movies and other pre-recorded material to laptops, iPads and other tablet and mobile devices
- Completed Motive's Phase 1 responsibilities in its Digiturk project and in its final system acceptance testing prior to launch
- Added over 100,000 Television Anytime-enabled television households to the Mediaset Premium On Demand platform
Commenting on the results, Michael Pilsworth, Executive Chairman, said:
"Motive has made excellent progress in 2011, having successfully launched Television Anytime Anywhere™ and signed new agreements in the United States, South America and Europe. The Company remains focused on the execution of its business plan and is in discussions with a number of broadcasters, cable, and satellite operators in both Europe and the Americas. The Board is confident that Motive's distinctive proposition will gain further traction in its key markets in the future."
Motive Television plc
Michael Pilsworth, Chairman
Leonard M. Fertig, CEO
T: +44 20 7025 8425
Merchant Securities (Nominated Adviser)
Simon Clements / Virginia Bull
T: +44 20 7628 2200
XCAP Securities (Joint Broker)
T: +44 20 7101 7070
First Columbus LLP (Joint Broker)
Chris Crawford / Kelly Gardiner
T: +44 20 3002 2070
Chris Lane / Madeline Douglas
T: +44 20 7367 5100
Chris Plunkett / Mike Smargiassi
T: +1 212 986 6667
T: +44 7774 860011
Notes to Editors:
Motive Television provides software and services to the global television industry, enabling Television Anytime Anywhere™. Motive's patented and proprietary technology platform enables viewers to watch what they want, when they want, on whatever device they want. The market is driven by the switchover from analogue to digital television broadcasting, as mandated by the International Telecommunication Union.
Motive Television provides broadcasters and pay television operators with enabling technology that allows them to deliver highly-valued services to viewers that generate additional income and retain existing subscribers, comprising:
Television Anytime. A technology platform that enables digital broadcasters and pay television operators to offer enhanced broadcasting services with or without the need for an Internet connection. These services include, among others, Video-on-Demand, Catch-Up TV, Virtual Channels, Sneak Preview TV, and Targeted Advertising. Television Anytime is currently in commercial operation in Europe both in digital terrestrial (DTT) and soon in a satellite (DTH) environment. Patented in Spain and patent pending in the EU.
Television Anywhere. An advanced multi-screen multi-channel technology that allows a viewer to control and watch all the content received by or recorded in their main home television equipment on any computer, mobile phone, iPad or any other Internet connected device. Television Anywhere is software-based and can be updated via software upgrades on existing STB. US patent pending.
Motive's content division is:
Motive Television Limited, a Dublin-based award-winning independent production company that produces factual programmes for Irish broadcasters. It specializes in live sports production and sports documentaries and also produces factual and entertainment series.
Motive Television was founded in London in 2005 and its shares are quoted on the London Stock Exchange (AIM).