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Set-top box firm pushes profits up 20 percent

Amino Reports Fiscal Year Profit

Light Reading
LR Cable News Wire Feed
Light Reading
1/28/2013
50%
50%

CAMBRIDGE, U.K. -- Amino Technologies plc ("Amino" or the "Company"; stock code: AMO), the Cambridge-based leader in digital entertainment solutions for IPTV, OTT and in-home multimedia distribution, announces audited results for the year ended 30 November 2012 which demonstrate strong growth in profitability and cash. Overview:
Financial results
- Gross profit up 20.8% to £17.5m (2011: £14.5m)
- Underlying Gross margins up 9.3 percentage points to 42.0% (2011: 32.7%)
- EBITDA of £6.2m, an increase of 42.2% (2011: £4.4m)
- Operating profit of £2.8m (2011: loss of £0.6m)
- Underlying revenue down 6.1% to £41.7m (underlying 2011: £44.4m; reported 2011: £51.8m) reflecting continued focus on profitability
- Year-end net cash 21.3% higher at £17.1m (2011: £14.1m)
- Proposed final dividend of 3p, an increase of 50% (2011: 2p) with an expectation of continued dividend growth of no less than 15 per cent per annum for each of the next two years
Operational highlights:
- Strong focus on operational management

  • Improved execution delivered by new, refreshed management team
  • Strong working relationships maintained with supply chain partners
  • Primary technology facility located in the Cambridge area from 2013 to achieve productivity improvements
    - Strengthening the Amino product range
  • Innovative new products launched
  • More focused portfolio range proving key differentiator against competitors
  • Aminet software stack now integrated across entire product range
  • Technology roadmap to ensure faster development of market-leading solutions
    - Continued delivery to existing and new markets
  • Consistent demand for products in our key markets
  • Signed agreement to supply tier one European operator with Live media gateway platform Amino Technologies plc
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