NDS sees revenues increase 20% in fiscal 2008

October 9, 2008 - Conditional access and interactive TV specialist NDS saw its revenues increase 20% in its fiscal year 2008 ending June 30th to reach US$ 850.1mn, with revenues from conditional access technologies up 17%, revenues from licence fees and royalties up 12% and revenues from new technologies up 40%.

The 40% increase in revenues from new technologies is attributed by the company primarily to higher revenues from its DVR technologies, advanced middeware, IPTV, gaming applications and residential gateway devices. Net income rose from US$ 135.7mn for its fiscal 2007 to US$ 160.1mn for its fiscal 2008.

“NDS has completed another year with strong results on all our key metrics, subscriber growth, middleware and DVR shipments, and strong performance of our Orbis subsidiary,” NDS chairman and CEO, Abe Peled, said in a prepared statement. “Our fiscal 2008 performance has benefited from continued strong execution and key new customer wins. Our reported performance benefited overall from the continued weakness of the US dollar. Unfortunately, as we look into fiscal 2009, the continuing strength of the Israeli shekel will make fiscal 2009 a very challenging year."