Technicolor revenues down, outlook unchanged

Technicolor’s first quarter revenues were down year-on-year but in line with expectations, with the company’s outlook for the year unchanged.

This was according to a trading commentary published by the firm, which said that revenues were impacted negatively in Europe during Q1 due to delays in shipments to “a large customer” and the end of a number of large deployments.

Technicolor said that overall performance was also weaker than last year due to the very low level of activity in Mexico in line with 2016 fourth quarter trends.

Despite this, the set-top box maker reported “solid” performance from its Connected Home segment in the US, where it has deals in place with Charter and AT&T.

Elsewhere the firm said that it had won several new contracts, including a large number of awards for OTT products based on Android TV.

“In total, the Group has won 20 contracts for OTT set-top boxes in the past 18 months, representing close to 50% of the worldwide awards for this category of products,” said Techicolor.

Overall the firm reported adjusted EBITDA in the range of €460 million to €520 million.