DDD unveils maiden full year profit
DDD says more than 15 million units of its TriDef 2D to 3D conversion solutions were shipped by TV, PC and mobile licensees and turnover rose by 56% to $8.62m.
Adjusted earnings before interest, tax, depreciation and amortisation for the year to the end of December jumped by 132% to $3,213,000 with margins improving to 37% from 25% in 2011.
The group reports a pre-tax profit from continuing operations of $1,314,000 compared with a loss of $96,000 last time.
Chief executive Chris Yewdall said: "The group has recorded its second consecutive year of strong revenue growth as the 3D consumer market continues to develop internationally.
"More than 15 million products with DDD's 2D to 3D solution were manufactured during the year, delivering the group's maiden full year profit after tax, following our transition into profitability in the second half of 2011.
"In addition to strong shipments of the Group's TriDef technology licences, Samsung signed a patent licence to use the Group's intellectual property for a 2D to 3D conversion application aimed at the growing number of 3D consumer devices marketed by Samsung.
"During the year, we also launched the Yabazam 3D streaming movie service on Samsung and LG Smart TVs, providing a further opportunity for the Group to generate recurring revenues from the fast growing installed base of 3D Smart TVs.
"In 2013, the group plans to build upon its growing technology licensing income, expanding onto new 3D devices including glasses-free tablet PCs. The group also plans to further augment the Yabazam streaming service by adding new content, delivering solutions to additional brands of Smart TV and expanding the service to new categories of 3D products including tablet PCs."
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