Better Together! Dalet Acquires Ooyala Flex Media Platform business.
|IFRS (in euro millions)||2010||2009||Variation 2010/2009|
|Cost of Goods Sold||-4.9||-2.6|
|Gross Margin Rate||81%||87%|
|Other operating costs||-7.8||-7.0|
|Depreciation and amortization||-2.1||-2.5|
|Operating result before non recurring items||1.2||0.3|
|Net Income (share of the Group)||0.9||0.1|
Paris, April 6th 2011 – Dalet announced consolidated revenues for the year ended December 31, 2010 of €25.5 million, a 32% increase compared to €19.3 million in 2009. Excluding €3.9 million revenue contribution in H2-2010 from the Italian subsidiary Gruppo TNT acquired in July, 2010 revenues were up 12%.
The gross margin rate was 81%, including Gruppo TNT contribution, compared to 87% in 2009, reflecting Gruppo TNT’s higher percentage of hardware in their sales mix.
Operating profit increased significantly to €1.2 million, compared to €0.0 million in 2009.
Net Income for 2010 was €0.9 million, compared to €0.1 million in 2009.
Cash: €3.8 million
Shareholders’ equity for the Group on December 31, 2010 was €10.1 million.
The balance sheet reflects an increase in the debt amount, mainly due to a €0.7 million bank loan that was contracted to fund partially Gruppo TNT’s acquisition.
The ratio of accounts receivable to total revenues increased, due to a strong invoicing during the month of December, combined with the mechanical effect of the integration of a single semester of revenues of the acquired company.
In spite of the cash outlay related to the acquisition and to the slight increase in working capital due to the growth in revenues, the cash position remained strong at €3.8 million on December 31, 2010.
David Lasry, CEO of Dalet, commenting on the figures released: «Our 2010 results confirm that we are on the right track. The GruppoTNT acquisition, combined with the increase of our revenues, extends our client base and enriches our product portfolio. At the upcoming NAB tradeshow in Las Vegas (April 11 to 14th), we will be introducing our new solution Dalet Sports Factory, which tackles the challenges of fast-paced, live event and post-game coverage by leveraging purpose-built sports logging, clipping and replay tools with Dalet’s powerful Media Asset Management capabilites.”
Dalet solutions enable broadcasters and media professionals to create, manage and distribute content to both traditional and new media channels, including interactive TV, the Web and mobile networks. Dalet combines into a single system a robust and proven Asset Management platform with advanced metadata capabilities; a configurable workflow engine, and a comprehensive set of purpose-built creative and production tools. This integrated and open environment enables end-to-end management of the entire News and Sport and Program content chain, and allows users to significantly improve efficiency, and to maximize the use and value of their assets. Dalet’s solutions are delivered through a dedicated Professional and Integration Services Department to ensure the highest possible standards. Dalet systems are used around the world by many thousands of individual users at hundreds of TV and Radio content producers, including public broadcasters (ABS-CBN, BBC, CBC, DR, France TV, RTBF, RFI, Russia Today, RSR & TSR, RT Malaysia, VOA, WDR), commercial networks and operators (Antena 3, Canal +, FOX, eTV, Orange, Time Warner Cable, Warner Bros., Sirius XM Radio) and government organizations (Queensland JAG, Canadian House of Commons, The European Commission).
Dalet is traded on the NYSE-EURONEXT stock exchange (Eurolist C): ISIN: FR0011026749 (following the reverse split on April 5th, 2011), Bloomberg DLT:FP, Reuters: DALE.PA.
Number of outstanding shares: 3.529.472 (following the reverse split on April 5th, 2011)
For more information on Dalet, visit https://www.dalet.com
DALET- SIMPLIFIED CONSOLIDATED BALANCE SHEET (IFRS- in euro millions)
|12 months||12 months|
|Restricted cash (over 12 months)||0.1||0.3|
|Other non current assets||0.8||0.7|
|TOTAL NON CURRENT ASSETS||7.7||4.9|
|Other current assets||1.4||1.0|
|Cash and cash equivalents||3.8||4.7|
|TOTAL CURRENT ASSETS||16.3||11.9|
|Assets classified as held for sale||0.9||0.0|
|Long-term financial debt||0.9||0.0|
|Other non current liabilities||0.9||0.7|
|TOTAL NON CURRENT LIABILITIES||1.8||0.7|
|Short term financial debt||1.5||0.3|
|Liability for current tax||2.7||1.8|
|Other current liabilities||5.1||3.1|
|TOTAL CURRENT LIABILITIES||12.7||7.2|
|Liabilities attached to assets classified as held for sale||0.3||0.0|
|TOTAL LIABILITIES AND SHAREHOLDER’S EQUITY||24.9||16.8|
DALET-SIMPLIFIED CONSOLIDATED CASHFLOW STATEMENT (in euro millions)
|12 months||12 months|
|CASH AT BEGINNING OF PERIOD||4.7||4.2|
|Cash flow before cost of net financial debt and tax (A)||3.3||2.7|
|- Income tax paid (B)||-0.2||0.0|
|- /+ Change in cash flow requirement associated with the activity (C )||-1.3||-0.2|
|=CASH FLOW GENERATED BY OPERATING ACTIVITIES (D) = (A + B + C)||1.7||2.5|
|+/- Impact of change of perimeter||-1.2||0.0|
|Cash flows associated with other investment operations||-2.4||-2.3|
|CASH FLOW ASSOCIATED WITH INVESTMENT OPERATIONS||-3.5||-2.3|
|CASH FLOW ASSOCIATED WITH FINANCING OPERATIONS (F)||0.7||0.3|
|Impact of changes in exchange rates||0.3||0.0|
|CHANGE IN NET CASH POSITION ( D + E + F + G )||-0.9||0.5|
|CASH AT END OF PERIOD||3.8||4.7|