IPTV software company Orca Interactive announced a 100% increase in revenue in its first year results as a listed company.
Orca reported revenues up by 106% to $5.2 million, with net losses reduced to $1.8 million, down from $4.9 million in the previous year.
The company also announced a co-marketing agreement with IBM as a global marketing partner for IPTV solutions using its RiGHTv platform, with IBM acting prime contractor.
Orca had previously promoted an open architecture IPTV solution in conjunction with HP.
“2004 was a significant year in the ongoing growth of Orca culminating in our successful listing and fundraising in October,” said Haggai Barel, chief executive of Orca. “It was also the year that the IPTV market began to experience significant growth and, as one of the leading providers of middleware solutions to this market, we were well positioned to benefit.”
The company is currently involved in over 25 trials or tenders, including a trial with a Western European telco, and says it expects to announce further contract shortly.