Conditional access company and interactive TV provider Kudelski has begun to reap the benefits of its move to a service-based business model. The company reported revenue of CHF454m (299m) for the first half, up 7% year-on-year, with operating income of CHF8.5m, compared with negative CHF18.5m in 2008. Kudelski reported a net profit of CHF483,000, compared with a loss of CHF39.8m for the same period in 2008.
As of June, Kudelski had over 114 million active smart-cards and devices, of which 57 million were in Âservice modeÂ. CEO AndrÃ© Kudelski said this meant the company had reached its target of about 50% of the installed base in service mode. Digital TV generated revenues of CHF301.3m, up 12.2%, with an operating profit of CHF20.9m, up CHF33.2m year-on-year.Â European net sales were CHF168m, up by 7.9%, while American sales grew by 42.7%, thanks in large part to the delivery of replacement cards at EchoStar and the delivery of large volumes of cards to Dish Mexico.Â