DDD posts rise in annual profit as demand for 3D grows

3D technology developer DDD posted an increase in annual turnover and profit driven by growing demand in the market.

The company achieved turnover of $8.6m for the year ended December 31st 2012, a 56% increase on the previous year's $5.5m.

Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) grew 132% to $3.2m from $1.3m. Gross margins improved from 25% to 37%.

Profit from continuing operations came to £1.3m, compared to a loss of $0.96m in 2011.

Chief Executive Christopher Yewdell said the company has experienced a rising trend towards 3D integration into TVs, PCs, smartphones and tablet devices.

Samsung, the biggest provider of 3D TV and the company's chief customer, has signed a patent licence to use the firm's intellectual property for a 2D to 3D conversion application aimed at the growing number of 3D consumer devices.

More than 15m products with DDD's 2D to 3D solution were manufactured during the year.

DDD also launched the Yabazam 3D streaming movie service on Samsung and LG Smart TVs.

Yewdell said the group was now turning its focus to developing glasses-free 3D technology and extending its reach to tablets.

"The way people are consuming the internet, video and games is changing," he told Sharecast.

The group also plans to enhance its Yabazam streaming service by adding new content, solutions to additional brands of Smart TV and expanding the service to new categories of 3D products including tablet PCsm, Yewdell concluded.

RD