OpenTV Cuts 4Q Losses3/15/2004 8:53 AM Eastern
OpenTV Corp. said Monday that its fourth-quarter adjusted earnings before interest, taxes, debt and amortization was a loss of $6.2 million, compared with a loss of $36.9 million in the prior-year period.
Revenues for the period rose 21% versus fourth-quarter-2002 levels to $16 million.
Operating expenses in the fourth quarter improved by 49%, declining from $56.4 million in the year-ago period to $28.9 million.
For the full year, adjusted EBITDA improved 66%, with the company posting a loss of $29.6 million versus $87.7 million in the prior year. Revenue rose 7.5% to $64.2 million, and operating expenses improved by 84%, declining from $718.3 million to $117.7 million in 2003.