Multi-screen Internet TV solutions provider TelVue had a good third quarter--at least compared to a year ago--with revenues that were up 73 percent, the company said in a news release.
Third-quarter revenue was $2.13 million, and third-quarter net income was $276,329. This compared compared with a revenue loss of $804,361 for the same quarter in 2012 and net income in Q2 2013 of only $34,177, the company said.
TelVue develops and markets broadcast technology to help video broadcasters, including local cable TV channels, automate their channels and expand audiences across multiple screens. Its boilerplate says it serves the local origination and leased-access needs for eight of the top 10 cable and telco MSOs and powers OTT and subscription Internet channels on "most popular OTT boxes and gaming consoles."
The improved results came about via progress the company made implementing operating process improvements, said Emmett Hume, TelVue's CFO.
They were also a result of overall customer growth, added CEO Jesse Lerman.
"All of our key business lines experienced strong growth, and it was particularly gratifying to see this growth across each of our cable, community TV, and new media markets that we serve," Lerman said in the news release. "This quarter's results confirm that TelVue's products are addressing our customers' needs in the face of a rapidly changing video production and delivery environment."
- TelVue issued this press release
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