Privately-held RGB Networks says it saw positive cash flow from operations in 2010 after shipments for the year increase some 60 percent over 2009.
The video processing company said it ended the year with record backlog and now has shipped nearly $200 million in products and services to over 200 cable, telco, satellite, over-the-top (OTT) and mobile operators in more than 30 countries. It said the strong showing in 2010positions it for more growth in 2011.
The company, founded in 2001, competes generally with Motorola, Harmonic, and Cisco Systems.
RGB Networks this year spent money to make money, in June buying RipCode, a provider of mobile IP video solutions, in a stock deal that also saw investors in both companies toss some additional cash into the pot to cover RipCode's burn rate. The deal gave RGB mobile-video delivery capabilities for its core video-processing platform, something said would have taken the company a year to develop on its own, and enabled RGB to immediately participate in strategic trials of three screen services by several major service providers.
In May, reports said Graham was looking to go public with RGB Networks sometime in the first half of 2011.
For more:
- see this release
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