TORONTO – During the nine-month period ending December 31, 2005, Tri-Vision revenues fell 11.4% to $5.4 million as compared to the same three quarters of 2004.
Gross profit was $2.07 million compared with $2.5 million for the corresponding prior year period and net loss (after taxes) was $696,000 as compared to a net loss of $234,000 million for Q1-3 in 2004.
Third quarter revenues were down slightly to $1.235 million, compared to $1.393 million during last year’s Q3.
Tri-Vision had a net loss of $615,000 for the three-month period, compared to a net loss of $654,000 for the corresponding period last year.
"A very significant new focus for the company has been development of Think Broadband Solutions Inc. Much time and effort has been spent to secure distribution agreements and restructure the sales and marketing strategy within Tri-Vision to ensure success. Think Broadband is a full stocking distributor of premium products and a value-added, service provider for cable, wireless and telecom industries in North America," said the company’s release.
"Revenues from our v-chip licensing remained fairly constant during this quarter as compared with the prior quarter. As we approach the FCC-mandated March 15, 2006 deadline, manufacturers will need to equip themselves with open v-chip. Tri-Vision’s open v-chip is the only known, patented technology capable of accepting modified or new rating systems. We look forward to the revenue potential our U.S. v-chip licensing program has to offer as manufacturers comply with the law that takes effect next month. Royalties earned through our v-chip licensing program are expected to start to appear in our fiscal 2007 year which begins April 1, 2006," said Khalid Usman, CFO.
