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Pin to quick picksOrcadian Engy Regulatory News (ORCA)

Share Price Information for Orcadian Engy (ORCA)

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Contract Win & Trading Update

30 Dec 2005 07:00

Orca Interactive Ltd30 December 2005 Orca Interactive Ltd ("Orca" or the "Company") Contract Win and Trading Update Introduction RA'anana, Israel - 30 December 2005 - Orca (LSE: ORCA), a global market leaderin developing middleware and applications for IPTV (Internet ProtocolTelevision), today announces that it has secured a further significant contractwin, however, the timing and terms of the contract will mean that revenues forthe year to 31 December 2005 will fall significantly short of marketexpectations. Contract Win Orca has today signed a strategic contract (the "Contract") with a franchise ofone of the world's leading media companies (the "Franchise") to become the soleprovider to the Franchise of a full video-on-demand service. The Contract willinitially result in $3.0 million of committed revenue to Orca. Given Orca'sstatus as the sole provider to the Franchise, the Board of Orca also believesthat this deal has the potential to generate substantial further revenues overthe coming years. In addition, Orca has agreed to acquire a minority stake in the Franchise for aninvestment of $2.5million. The Board believes that this investment will provideOrca with an opportunity to benefit from the expected significant growth andfuture profitability of the Franchise. The Board also believes that having astrategic relationship with a global media company has the potential to enableOrca to introduce an important value added partner, in the form of content, tofuture bids, which will strengthen Orca's position in the market. A significant proportion of Orca's overall revenues from the Contract will begenerated from the provision of licenses for the use of Orca's RiGHTv IPTVmiddleware. In addition, as Orca is the prime contractor, revenues will also begenerated from professional services and complementary 3rd party IPTV solutionsystems. Pursuant to the Company's accounting policies, and as the Contract has beensigned later in the year than the Board originally anticipated, the Boardexpects to recognise only a small part of the initial revenues from the Contractin the current financial year. Trading Update The Board now expects that revenues for the second half of the current year willbe broadly similar to those reported for the first half and, therefore, thatreported revenues for the full year ending 31 December 2005 will fallsignificantly short of current market expectations. Net cash at the year-end isexpected to stand at approximately $21m. The Board is continuing to see strong growth in the Company's pipeline ofopportunities, as an increasing number of telecoms and media companies prepareto deploy IPTV services. It is expected that a number of these opportunitieswill result in revenue generating contracts in 2006. Haggai Barel +972 9769 9400CEO, Orca Interactive James Melville-Ross / Cass Helstrip +44 20 7831 3113Financial Dynamics This information is provided by RNS The company news service from the London Stock Exchange
Date   Source Headline
21st Aug 20078:58 amRNSAIM Rule 26
18th Jul 20077:00 amRNSContract Win
25th Jun 20073:01 pmRNSResult of AGM
30th May 20075:16 pmRNSNotice of AGM
18th Apr 200712:13 pmRNSBlock Admission Notification
18th Apr 20077:00 amRNSOrca selected by SibirTelecom
10th Apr 20077:02 amRNSOrca selected by Lattelecom
2nd Apr 20077:14 amRNSFinal Results
26th Mar 20074:20 pmRNSHolding in Company
26th Mar 20077:03 amRNSOrca wins contract
26th Mar 20077:01 amRNSContract Win
12th Jan 20071:59 pmRNSStatement rePress Speculation
18th Oct 200611:56 amRNSBlocklisting Interim Review
19th Sep 20067:02 amRNSInterim Results
12th Sep 20069:35 amRNSNotice of Results
7th Jun 20063:52 pmRNSAnnual Report and Accounts
22nd May 20067:05 amRNSOrca Signs Agreement
22nd May 20067:00 amRNSRe Agreement
26th Apr 20069:33 amRNSRe Contract
19th Apr 20067:00 amRNSBlock Admission Notification
6th Apr 20067:01 amRNSCommercial Launch
24th Mar 20067:02 amRNSFinal Results
22nd Mar 20069:55 amRNSNotice of Results
3rd Mar 20065:18 pmRNSHolding(s) in Company
2nd Feb 20061:31 pmRNSHolding(s) in Company
30th Dec 20057:00 amRNSContract Win & Trading Update
18th Oct 20052:00 pmRNSBlocklisting Interim Review
19th Sep 20059:07 amRNSORCA Interim Results-Replace
19th Sep 20057:53 amRNSInterim Results - Replacement
19th Sep 20057:02 amRNSORCA Interim Results
19th Sep 20057:01 amRNSInterim Results
6th Sep 20057:05 amRNSRe Agreement
5th Sep 200510:26 amRNSNotice of Results
18th Aug 20057:05 amRNSOrca Broadband Operator Deal
18th Aug 20057:01 amRNSRe Agreement
27th Jul 200511:00 amRNSAGM Statement
30th Jun 20053:41 pmRNSAnnual Report and Accounts
30th Jun 20053:37 pmRNSDirectorate Change
14th Jun 20057:02 amRNSOrca Launches Home Media
14th Jun 20057:02 amRNSRE Launch
14th Jun 20057:02 amRNSOrca Partnership Agreement
14th Jun 20057:02 amRNSRe Agreement
8th Jun 20057:01 amRNSOrca Wins Pilot Agreement
8th Jun 20057:00 amRNSRe Agreement
7th Jun 20058:48 amRNSORCA IPTV Licensing Agreement
7th Jun 20057:19 amRNSOrca and Lucent
7th Jun 20057:02 amRNSRe Agreement
15th Feb 20055:20 pmRNSHolding(s) in Company
2nd Feb 20057:01 amRNSFinal Results
2nd Feb 20057:00 amRNSOrca Preliminary Results

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