Netgem seeing profitable 2013
August 1, 2013
Netgem reports a consolidated revenue of € 33.8 million for the six months ended June 30, 2013. It includes the activity of Videofutur as of the date of its take-over by Netgem at the beginning of April 2013.
Consolidated international revenue reached € 23.4 million in the first half of 2013, representing 69 per cent of total revenue. International development temporarily slowed during this period as a result of the winding down of the previous version of T-Box in Australia. Netgem expects a catch-up effect in the second half of the year with the successful launch of the new T-Box in May.
Netgem recorded a consolidated first-half 2013 recurring operating income of € 4.1 million. Consolidated operating expenses remained under control despite the sizeable R&D effort pursued since the beginning of the year, the costs of the Videofutur takeover and merger, and increased sales & marketing costs in France.
After taking into account a consolidated financial result of € 0.2 million and an income tax expense of € 0.6 million, Netgem recorded in the first half of 2013 a consolidated net profit, group share, of € 3.8 million.