Hybridbox reports losses in first half

Hybridbox, a Hungarian company that makes and sells devices that combine internet and television services, sustained operating losses of HUF 6.2 million in the first half of 2011 on revenue of HUF 455 million, Hybridbox reported in its unaudited, consolidated H1 financial report.

All revenue came from domestic sales.

The company noted that it received orders to be fulfilled by the end of H1 from Jersey Telecom to introduce hybrid television services on Jersey Island, and is also in talks on offering the devices in Israel. Hybridbox also made preparations for the market launch in Slovakia and in the U.S.

Hybridbox said that sales of the company's set-top-boxes will likely continue to decline until the planned introduction of hybrid television service packages at the end of this year. The company noted that it would not expand operations until demand for its products increases.

Hybridbox was set up in the second half of last year and is a B-category issuer at the Budapest Stock Exchange since last September.