OpenTV Stock Drops on Earnings
By Monica Hogan -- Multichannel News, 1/25/2002 9:16:00 AM MT
Share prices for interactive-television-technology company OpenTV Corp. fell 17 percent Friday, following losses disclosed in a fourth-quarter earnings report late Thursday and an analyst downgrade Friday morning.
OpenTV's pro forma net loss for 2001 was $25.3 million, compared with a pro forma net loss of $11.4 million in 2000. Revenues for the year increased 51 percent to $95.3 million.
Earlier this week, OpenTV said more than 4 million set-top boxes had been deployed in the United States with OpenTV middleware.
EchoStar Communications Corp. includes the middleware on its newer direct-broadcast satellite receivers.
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