Tuesday 8 June 2010
Amino Technologies plc ("Amino" or the "Company"; stock code: AMO), the Cambridge-based leader in digital entertainment solutions for IPTV, Internet TV and in-home multimedia distribution, provides the following update for the half-year ended 31 May 2010.
Continuing on from the strong order intake in the second half of the last financial year, the Company is pleased to report record first half revenues and unit sales booked in the period and a healthy order backlog at 31 May 2010. Gross margins are expected to be lower than in previous years as a result of foreign exchange rate movements, higher part prices and increased sales to higher volume Tier 2 customers. The Company also expects to report a 'mark to market' loss of approximately £0.5m on the remaining foreign exchange contracts. However, after these items, the Company expects to report a significantly reduced loss (FY09: loss of £3.1m).
Amino's strategic and financial position remains robust and at 31 May 2010, the Company's cash balance stood at £13.0m (30 Nov 2009: £9.0m).
The improved sales performance has been driven by the core IPTV business, where the Company has successfully transitioned its technologies to MPEG-4 and secured important contracts with Tier 2 operators including Romtelecom announced today. North America continues to show steady growth and the Company is encouraged by the strengthening demand in Eastern Europe and further contract wins in the growing Latin American market.
In the new OTT/hybrid market, Amino is pleased to confirm that it has already shipped products to its Tier 1 customer. The new Intel-based platform on which this box is based is attracting further strong interest.
Improvements in supply chain management remain a focus to improve the gross margin.
The Company will announce its interim results on 26 July 2010.
Commenting on the announcement, Keith Todd, Non-Executive Chairman said: "This has been an encouraging first half for Amino as we have built on the momentum towards the end of last year. The introduction of new products and the improving sales environment are resulting in a healthy backlog and provide confidence that we are in line with management forecasts for the full year. "
AMINO SECURES SET-TOP BOX CONTRACT WITH ROMTELECOM
Amino Technologies plc (AIM: AMO.L), the world leading independent IPTV specialist, has secured a new contract to provide set-top boxes (STB) to Romtelecom, one of the most important telecom operators in Romania and leader in the fixed communications market.
Deployment of IPTV services - under the Dolce Interactiv brand - is already underway in ten cities in Romania, including the capital Bucharest, Romtelecom offering the largest coverage for this entertainment technology in Romania. The company delivers a wide range of IPTV services, including broadcast content, personal video recording (PVR) functionality and Video-on-Demand (VoD).
Amino will provide Romtelecom with Mood400 single stream personal video recording (PVR) STBs, which deliver a range of advanced functionality including advanced PVR, VoD, in-home media sharing, instant messaging (IM), and other TV-centric entertainment, communication and information applications.
Amino Communications CEO Andrew Burke said: "Romtelecom has a clear focus on developing the breadth and depth of its offering with IPTV, the latest addition to its service portfolio. The Mood STB is an ideal choice - providing a future proof means of deploying advanced services and applications that will delight customers.
"This new contract further underlines the strength of our market leading position in the provision of IPTV solutions in Eastern Europe and we look forward to partnering Romtelecom in their service rollout."
Joerg Zeddies, Chief Commercial Officer, Residential Segment, Romtelecom stated: "By adding to our portfolio IPTV technology through Dolce Interactiv, we made a step further toward our commitment to offer quality entertainment to our customers. Dolce Interactiv is a new experience which allows customers to interact more with the TV service, to personalize it and with the STBs provided by Amino they will be able to have access to the full range of IPTV features."
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