Amino maintains momentum
June 6, 2011
Amino has reported it expects to report record first-half revenues for the six months to May 31st. The company, which specialises in digital entertainment solutions for IPTV, Internet TV and in-home multimedia distribution, said it experienced some short-term challenges to component supply following the Japan disaster but these were mitigated through strong industry partnerships.
Amino said in a trading update that it had maintained its sales momentum and expected to report both record first-half revenues and a healthy second-half order backlog. It said gross margins in the core IPTV business improved during the period as the benefits of new supply chain management took effect.
As anticipated, it is expected that the company will be marginally loss-making for the period. But Amino’s overall financial position has recovered strongly with a cash balance at May 31 materially ahead of analyst expectations at £11.6 million (from: £3.6 million in November 2010).
Amino’s core IPTV range continues to drive sales performance with substantial contract wins secured in Eastern Europe, North America and Latin American markets in highly competitive bids.
The company says it is experiencing strong continued interest in the Freedom OTT range of products and promising technical trials are underway in the US and Europe.
Keith Todd, the non-executive chairman, said: “The encouraging momentum seen last year has continued in this first half. Amino has delivered a strong revenue performance during the period and enjoys a healthy order backlog as we move into the second half of the year. The substantial improvement in our cash position, and continued sharp focus on cost management and our supply chain – allied to our healthy new business pipeline – provides the board with confidence that we continue to trade in line with management expectations for the full year.”