NTN Communications Announces Record Q2 Net Site Growth for its NTN iTV Hospitality Network
NTN Communications Announces Record Q2 Net Site Growth for its NTN iTV Hospitality Network
Growth Brings North America Subscriber Count to Highest in Company History at 3,832 Restaurants and Sports Bars
CARLSBAD, Calif., July 28 /PRNewswire-FirstCall/ -- NTN Communications, Inc., (AMEX:NTN) a leader in interactive communications and entertainment products for the hospitality industry, announced today a net site growth of 115 restaurant and sports bar iTV subscribers during the 2nd quarter 2005, the highest ever achieved during any second quarter period. The increase brings the company's installed base to 3,832 subscriber sites, an increase of 364 subscribers over Q2 2004 and the highest subscriber site count in the company's history.
The increase was driven by record 2nd quarter North America site sales of 356 new customers, representing a 40% increase over the 254 new sales in 2nd quarter, 2004. This sales volume also led to an increased backlog of 67 sites heading into Q3 2005.
The positive growth in Q2 2005 follows a positive sales increase in Q1 2005 of 48% over Q1 2004, for a 44% year-over-year sales increase for the first half of 2005.
"We are very pleased with the strong upward trend in our Network installed base," stated Mark deGorter, President of NTN Hospitality Technologies. "The continuing increase in our divisional sales during the first half of 2005, resulting in our strong overall Network growth, is driving a substantial increase in recurring revenues and contribution to income."
About NTN Communications
Based in Carlsbad, CA, NTN Communications, Inc. is the parent corporation of the NTN Hospitality Technologies(TM) division and Buzztime Entertainment, Inc., a subsidiary. The NTN Hospitality Technologies segment, which focuses on the out-of-home hospitality industries, is comprised of the NTN interactive Television (iTV) Network, NTN Wireless Communications, Inc., and NTN Software Solutions, Inc. Buzztime Entertainment, Inc. produces Buzztime(R), the play-along games channel, live sports prediction games such as QB1(R) and many other games that allow one or many players to participate. In addition to the NTN iTV Network, Buzztime's games are available on cable TV, satellite TV, mobile phones and plug-n-play home versions. For more information, please see www.ntn.com
Except for historical information contained herein, this release contains forward-looking statements which reflect management's current views of future events and operations, which are subject to risks and uncertainties including the risks of changing economic conditions, product demand and market acceptance, and the impact of competitive products and pricing. Other important factors that may cause actual results to differ materially from the forward-looking statements are discussed in the "Risk Factors" section and other sections of NTN's Form 10-K/A for the year ended December 31, 2004, which is on file with the Securities and Exchange Commission. NTN does not undertake to publicly update or revise any of its forward-looking statements even if new information or future events show that the indicated results or events will not be realized.
CONTACT: Andy Wrobel Chief Financial Officer NTN Communications, Inc. (760) 930-1177 andy.wrobel@ntn.com
Source: NTN Communications, Inc.
CONTACT: Andy Wrobel, Chief Financial Officer of NTN Communications, Inc., +1-760-930-1177, andy.wrobel@ntn.com
Web site: http://www.ntn.com/
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