Amino Reports Half-Year Results

IPTV software firm maintains its sales momentum

June 6, 2011

1 Min Read

CAMBRIDGE, U.K. -- 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, is pleased to provide the following update for the six months ended 31 May 2011.

The Company has maintained its sales momentum and expects to report both a record first half revenue performance and a healthy second half order backlog as at 31 May 2011. Gross margins in the core IPTV business improved during the period as the benefits of new supply chain management took effect. The Company did experience some short-term challenges to its component supply following the Japan earthquake but these have been successfully mitigated through strong industry partnerships.

As anticipated, it is expected that the Company will be marginally loss making for the period (H1 2010: loss of £0.9m). Amino's financial position has recovered strongly during the period with the Company's cash balance as at 31 May 2011 standing materially ahead of analyst expectations at £11.6m (30 Nov 2010: £3.6m).

The Company's core IPTV range continues to drive sales performance with substantial contract wins secured this period in Eastern Europe, North America and Latin American markets in highly competitive bids. The Company is experiencing strong continued interest in the Freedom OTT range of products and promising technical trials are underway in the United States and Europe.

Amino Technologies plc (London: AMO)

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