OpenTV reported financial results for the fourth quarter and full year 2009

March 12th, 2010
BVI-registered OpenTV Corp. (http://bvi-companies.blogspot.com/2007/06/opentv-corp.html), a leading software and technology provider of advanced digital television solutions, announced financial results for the fourth quarter and full year period ended December 31, 2009.
For the year ended December 31, 2009, the BVI company reported revenues in the amount of $120 million – a 3% increase compared to $116.5 million in 2008. Also, in this period royalties and licenses revenues increased 8.9% and made $84 million. Services and other revenues decreased 8.6% and made $36 million. Net income for the year ended December 31, 2009 was $6.2 million, or $0.05 per share, compared to $9.6 million, or $0.07 per share, in 2008.
In 2009, OpenTV’s cash flows from operations were $20.3 million, compared to $14.2 million in 2008.
As of December 31, 2009, the  BVI company had cash, cash equivalents and short and long-term marketable debt securities totaling $118.5 million, compared to $102.8 million as of December 31, 2008.
For the fourth quarter 2009, OpenTV (http://finance.yahoo.com/q?s=optv) reported revenues in the amount of $31.2 million, compared to $28.9 million in the same period of 2008. Royalties and licenses revenues in Q4 2009 were $22.2 million, compared to $8.7 million in the fourth quarter 2008. Adjusted Earnings Before Interest, Tax, Depreciation and Amortization were $4.4 million, compared to $3.9 million in the same period of 2008. Net income in the fourth quarter of 2009 was $0.7 million, or $0.01 per diluted share, compared to $2.3 million, or $0.02 per diluted share, in the fourth quarter of 2008.

BVI-registered OpenTV Corp., a leading software and technology provider of advanced digital television solutions, announced financial results for the fourth quarter and full year period ended December 31, 2009.

For the year ended December 31, 2009, the BVI company reported revenues in the amount of $120 million – a 3% increase compared to $116.5 million in 2008. Also, in this period royalties and licenses revenues increased 8.9% and made $84 million. Services and other revenues decreased 8.6% and made $36 million. Net income for the year ended December 31, 2009 was $6.2 million, or $0.05 per share, compared to $9.6 million, or $0.07 per share, in 2008.

In 2009, OpenTV’s cash flows from operations were $20.3 million, compared to $14.2 million in 2008.

As of December 31, 2009, the  BVI company had cash, cash equivalents and short and long-term marketable debt securities totaling $118.5 million, compared to $102.8 million as of December 31, 2008.

For the fourth quarter 2009, OpenTV reported revenues in the amount of $31.2 million, compared to $28.9 million in the same period of 2008. Royalties and licenses revenues in Q4 2009 were $22.2 million, compared to $8.7 million in the fourth quarter 2008. Adjusted Earnings Before Interest, Tax, Depreciation and Amortization were $4.4 million, compared to $3.9 million in the same period of 2008. Net income in the fourth quarter of 2009 was $0.7 million, or $0.01 per diluted share, compared to $2.3 million, or $0.02 per diluted share, in the fourth quarter of 2008.

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BVI-registered holding company announced financial results for the third quarter of 2010

March 8th, 2010
The British Virgin Islands-registered holding company Global-Tech Advanced Innovations Inc. (http://bvi-companies.blogspot.com/2009/03/global-tech-advanced-innovations-inc.html) reported its financial results for the fiscal quarter ended December 31, 2009, which is the company’s third quarter of fiscal 2010.
In the third quarter of the year, company’s net sales made $25.7 million – a 68.1% increase when compared to $15.3 million for the third quarter of 2009 (http://bvi-company-financials.bviincorporation.com/103/bvi-registered-holding-global-tech-advanced-innovations-reports-fiscal-results-for-q3-2009/). Net sales of electronic components increased approximately 37% in the third quarter of fiscal 2010, compared to the same quarter of the previous year. Also, in this period net revenues from telecommunication manufacturing services exceeded 10% of total revenues, compared to less than 3% of total revenues in the third quarter of the previous year.
Net income for the third quarter of the year was $0.7 million, or $0.24 per share, compared to a net loss of $1.8 million, or $0.57 per share, for the third quarter of fiscal 2009. Net sales for the nine months ended December 31, 2009 were $80.4 million, that is 13.7% more than in the same period of fiscal 2009. Net income for the first nine months of fiscal 2010 was $3.4 million, or $1.13 per share, compared to a net loss of $1.7 million, or $0.54 per share, for the first nine months of 2009.
By words of Global-Tech’s President and CEO John C.K. Sham, it is essential for the company “to continue to focus on the development of new products with higher profit margins and the further expansion of business.”

The British Virgin Islands-registered holding company Global-Tech Advanced Innovations Inc. reported its financial results for the fiscal quarter ended December 31, 2009, which is the company’s third quarter of fiscal 2010.

In the third quarter of the year, company’s net sales made $25.7 million – a 68.1% increase when compared to $15.3 million for the third quarter of 2009. Net sales of electronic components increased approximately 37% in the third quarter of fiscal 2010, compared to the same quarter of the previous year. Also, in this period net revenues from telecommunication manufacturing services exceeded 10% of total revenues, compared to less than 3% of total revenues in the third quarter of the previous year.

Net income for the third quarter of the year was $0.7 million, or $0.24 per share, compared to a net loss of $1.8 million, or $0.57 per share, for the third quarter of fiscal 2009. Net sales for the nine months ended December 31, 2009 were $80.4 million, that is 13.7% more than in the same period of fiscal 2009. Net income for the first nine months of fiscal 2010 was $3.4 million, or $1.13 per share, compared to a net loss of $1.7 million, or $0.54 per share, for the first nine months of 2009.

By words of Global-Tech’s President and CEO John C.K. Sham, it is essential for the company “to continue to focus on the development of new products with higher profit margins and the further expansion of business.”

Posted in BVI company holdings, Financial results of BVI Company Holdings, Unaudited financial results | No Comments »

OpenTV announced redemption of outstanding Class A ordinary shares

March 1st, 2010
In connection with the redemption, shareholders of OpenTV (http://finance.yahoo.com/q?s=optv) will be entitled to statutory dissent rights in accordance with the British Virgin Islands law.
A month ago, OpenTV was notified by the major shareholder and its subsidiaries of the intent to give written instructions directing the BVI company to redeem all of the Class A ordinary shares (http://bvi-company-financials.bviincorporation.com/216/opentv-to-receive-instructions-from-its-shareholder-on-sale-of-shares/) not owned by Kudelski SA. On February 19, 2010, the written instructions were delivered.
Also, in connection with the redemption, OpenTV has submitted a notice to the Nasdaq Stock Market informing of its intent to voluntarily delist its Class A ordinary shares from NASDAQ (http://www.nasdaq.com/) upon completion of the redemption.

OpenTV Corporation, British Virgin Islands-registered software and technology provider of advanced digital television solutions, made an announcement on February 24, 2010 about redeeming of all of its outstanding Class A ordinary shares, other than any such shares held by Kudelski SA and two of its affiliates, collectively holding more than 90 per cent of the company.

The BVI corporation is redeeming its Class A ordinary shares for $1.55 per share, without interest and less applicable withholding taxes. The redemption was completed on March 26, 2010.

In connection with the redemption, shareholders of OpenTV will be entitled to statutory dissent rights in accordance with the British Virgin Islands law.

A month ago, OpenTV was notified by the major shareholder and its subsidiaries of the intent to give written instructions directing the BVI company to redeem all of the Class A ordinary shares not owned by Kudelski SA. On February 19, 2010, the written instructions were delivered.

Also, in connection with the redemption, OpenTV has submitted a notice to the Nasdaq Stock Market informing of its intent to voluntarily delist its Class A ordinary shares from NASDAQ upon completion of the redemption.

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SinoCoking received NASDAQ listing approval

February 24th, 2010

Florida corporation SinoCoking Coal and Coke Chemical Industries, Inc., making its operations through BVI- and Chinese subsidiaries, annnounced that it received NASDAQ approval to list its shares on the NASDAQ Capital Market. SinoCoking’s common stock will continue to trade under the same symbol. Trading on the NASDAQ Capital Market is expected to commence on February 18, 2010.

The corporation, previously known as Ableauctions.com, Inc, received the new name upon the completion of the share exchange transaction with SinoCoking’s subsidiary (http://bvi-company-financials.bviincorporation.com/223/aubleauctions-com-to-close-share-exchange-transaction-with-bvi-registered-holding/), British Virgin Islands-registered Top Favour Limited.

The corporation, previously known as Ableauctions.com, Inc, received the new name upon the completion of the share exchange transaction with SinoCoking’s subsidiary, British Virgin Islands-registered Top Favour Limited.

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