Set-top box manufacturer ADB increases sales and profits
The set-top box manufacturer Advanced Digital Broadcast (ADB) is doing well thanks to the growing popularity of digital television. In 2009, the Geneva-based company's revenue grew by 5.6 percent to $380.1 million.
The bottom line was a net profit of 15.25 million dollars. This is 31.6 percent more than in the previous year, as ADB announced on Thursday according to SDA. Net profit from continuing operations climbed from 14.9 million to 23.1 million dollars. However, the Group had to cut back on gross profit. This fell from 144.3 to 139.0 million dollars. The gross margin fell accordingly from 40.0 to 36.5 percent.
In the reporting year, shares worth 22.3 million dollars were bought back as part of the current buy-back program. ADB expects sales to grow by over 10 percent in 2010. Profitability is expected to remain at an "acceptable level".
In the reporting year, shares worth 22.3 million dollars were bought back as part of the current buy-back program. ADB expects sales to grow by over 10 percent in 2010. Profitability is expected to remain at an "acceptable level".
