Tandberg Television Reports Latest Revenues
Tandberg Television, a Norwegian-based provider of signal processing and compression equipment to the broadcast industry reported revenues of $85.3 million in the fourth quarter ending Dec. 31, 2006, an increase of 9 percent over the $78.5 million it earned for the same period in 2005.
The company reported that its gross margin was up 57.3 percent, compared to 58.2 percent in the same quarter the year before. Operating profit came in at $11.2 million compared to $16.2 million in 2005 and pre-tax profits were $14.5 million, compared to $18 million for same period in the previous year.
In January, ARRIS, an Atlanta-based provider of telecommunications equipment for broadband networks said it would acquire Tandberg Television in a cash and stock deal worth $1.2 billion. Shortly after Tandberg released its latest figures, ARRIS launched its tender offer.
The deal, which was unanimously approved by Tandberg's board of directors, will result in a combined company of more than 1,600 employees and more than 2,000 customers in more than 100 countries.
The company reported the total number of shares outstanding at the end of the last quarter in 2006 were 80,529,876. Total assets were reported at $568.8 million, with an equity ratio of 84 percent on Dec. 31, 2006.
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