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PeerTV group reports sharp jump in revenues at full year

PRLog - July 1, 2014 - PeerTV, the AIM listed provider of technology solutions for the OTT (TV over the internet) market and printed circuit board production sector has announced sharply improved results for the 2013 trading year. Gross revenue rose by over 50% to $3.01 million, up from $1.96 million in 2012. At the same time, management has successfully driven operating costs down from $2 million in 2012 to just over $1 million for 2013, reducing overall losses to $1.8 million.

During the past year, both parts of the PeerTV (http://www.peertv.com/) group have performed strongly, winning significant new client business. Digitek, the printed circuit board specialist, won sales totalling $6.3 million, whilst PeerTV successfully signed orders to deliver its Android based OTT set top box solution into the Russian, Polish, US and Irish markets.

OTT TV over the internet (http://www.peertv.com/#!what-can-i-do-with-etv/cjg9) systems such as PeerTV are expected to be bought by ISPs, ethnic TV service providers, content providers, cable and satellite operators, mobile operators, the hospitality sector, hospitals and academic institutions.The PeerTV platform benefits from having been one of the first to commercialise an Android OTT (http://www.peertv.com/#!end-to-end-solution/cee5) based system, so it is ahead of the pack with both developmental and live client experience.

Commenting on the greatly improved results, PeerTV group chairman Eitan Yanuv said, “During the year, management focus at Digitek was on strengthening the customer base and obtaining the approvals necessary which will allow us to tender for  certain high growth sectors in the future, including the military and medical equipment. These will offer the possibility of high value, mass production orders. At the same time, PeerTV successfully launched our Android based OTT set top box into the market. Reaction from both consumer end users and the OTT providers has been extremely warm, with positive feedback focussing on the usability and flexibility of the system.”

For more information on PeerTV, log on to www.peertv.com or email info@peertv.com

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