OpenTV Beats Nos., But Revenue Down

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Interactive-TV-software provider OpenTV Corp. beat its own projected net
deficit for the first quarter, but it also saw a revenue decline.

Despite rising revenue from its applications business, the Mountain View,
Calif.-based company posted a pro forma net loss of $9.4 million for the period,
or 13 cents per share, narrowing its $12 million loss posted in first-quarter
2001.

Meanwhile, it generated $20.2 million in revenues compared with $22.4 million
posted for the same period in 2001.

That decrease came even though the company's applications platform pulled in
four times the revenue compared with the prior-year period, generating $4.5
million versus just $1 million a year ago.

The company said the overall revenue decline was partially due to shifts in
royalty payments via volume discounts and a slight drop in license-fee
revenue.

Bright spots in the quarter included deployments to more than 2 million
customers, bringing OpenTV's total to more than 23.5 million
worldwide.

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