Access Devices, Inc. Announces UK Subsidiary’s Q1 2005 Results
LONDON & LAS VEGAS — Access Devices, Inc. (Pink Sheets:ACDJ – News – www.accessdevices.co.uk.)
Access Devices, Inc.’s London-based subsidiary, Access Devices Digital Limited – developer of DVB (Digital Video Broadcast) and IPTV (Internet Protocol Television) set-top boxes – announces its unaudited financial results for the quarter ended March 31st 2005, prepared in accordance with United Kingdom Generally Accepted Accounting Principles.
Q1 forecasts met
Revenues for the quarter were in line with the company’s forecasts at GBP1.6 million (US$3.0 million at current exchange rates). Gross margins were also as forecast. Access Devices, Inc. holds 70% of the share capital of Access Devices Digital Ltd. Anthony S. Walton, CEO, commented “These results show that we are consistently gaining momentum from 2004. It is very satisfying that in Q1 2005 alone we have all-but matched our entire revenues for 2004. Our growth progresses as projected and we are confident of meeting our targets for the full year 2005.”
Access Devices Digital Limited’s recruitment programme has proved highly successful in attracting high-calibre engineering staff to meet the growing requirements of both new and existing customers and to meet its product development targets.
The company is pleased to report that expressions of interest in its planned DVB and IPTV product introductions remain unabated and that its existing core product range continues to attract new sales opportunities both in the UK and throughout Europe.
Any statements in this release that are not statements of fact may be considered “forward-looking statements” as that term is defined under the securities law in the United States. Forward-looking statements are only predictions and may differ materially from actual events or results.
About Access Devices Digital Limited
Access Devices Digital designs; controls manufacture, and sells Digital TV (DVB) access equipment and Internet Protocol TV (IPTV) equipment, generically referred to as set-top boxes (STBs). The company has a range of designs, including:
Digital Video Broadcast
–Digital Terrestrial TV decoder (DVB-T) products for the UK Freeview service and variants for European TV services.
–Digital Terrestrial TV decoder (DVB-T) products with conditional access (CA) for access to premium TV content, such as that broadcast by TopUpTV in the UK and various developing premium services in Europe.
–DVB-T Personal Video Recorders – with and without conditional access – for UK and European markets that are expected to follow the US example and show rapid and substantial growth.
Internet Protocol TV
–IPTV (Internet protocol TV) products providing video-on-demand over DSL.
–Combination DVB-T decoder with an IP delivery/return path.
–Access Devices Digital’s IPTV products enable ‘on-demand,’ ‘time shifted’ services and true real-time interactivity. The company’s products can seamlessly combine the TV broadcast and IP delivered content to enable broadcasters to develop new services across entertainment and commerce.
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