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Access Devices, Inc. Announces UK Subsidiary's 2004 Annual Results and New CFO

Strong revenue growth:

Revenues for the year rose to GBP 1.7 million (US$ 3.3 million at current exchange rates), in line with management's expectations. Gross margins were higher than expected at 22.6%, while the loss after taxation was held below GBP 2 million (US$ 3.7 million at current exchange rates). Access Devices, Inc. holds 70% of the share capital of Access Devices Digital Ltd. The full financial statements, which have been prepared under United Kingdom Generally Accepted Accounting Principles, have been filed with and are directly available from Companies House in the United Kingdom. Anthony S. Walton, CEO, commented, 'These results are extremely satisfying, especially when considering that our key products were only available to ship in the last quarter of the year. Keeping the loss below GBP 2 million through tight internal controls was an important goal for the management team as we concentrated on improving our working capital position. As a result, we are well placed to deliver our planned growth in 2005.'

Appointment of new CFO - Stephen Grist

Access Devices, Inc. is also pleased to announce the appointment of its new Chief Financial Officer, Stephen Grist. 'I am delighted to welcome Stephen Grist to our management team,' said Anthony S. Walton. 'He brings a wealth of experience in the related telecommunications and software sectors and possesses the personal and professional qualities to help Access Devices meet its planned growth and business development challenges. Stephen is already making an essential contribution to the executive team.'

About Access Devices Digital Limited:

Access Devices Digital designs, controls manufacture, and sells Digital TV (DVB) access equipment and Internet Protocol TV (IPTV) equipment, generically referred to as set-top boxes (STBs). The company has a range of designs, including:

Digital Video Broadcast

Digital Terrestrial TV decoder (DVB-T) products for the UK Freeview service and variants for European TV services. Digital Terrestrial TV decoder (DVB-T) products with conditional access (CA) for access to premium TV content, such as that broadcast by TopUpTV in the UK and various developing premium services in Europe. DVB-T Personal Video Recorders -- with and without conditional access -- for UK and European markets that are expected to follow the US example and show rapid and substantial growth.

Internet Protocol TV

IPTV (Internet protocol TV) products providing video-on-demand over DSL. Combination DVB-T decoder with an IP delivery/return path. Access Devices Digital's IPTV products enable 'on-demand,' 'time shifted' services and true real-time interactivity. The company's products can seamlessly combine the TV broadcast and IP delivered content to enable broadcasters to develop new services across entertainment and commerce.

Publisher Contact Information:

Access Devices Inc.
+44 (0) 20 8799 4480

Company profile of Access Devices Digital Ltd.
Past press releases of Access Devices Digital Ltd..


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