Netgem Q3 revenue slump
October 9, 2014
By Chris Forrester
French set-top box maker Netgem saw revenues fall 15 per cent in its Q3 period (to €20.5 million, from €24.2 million in the previous year), and reflecting a 14 per cent fall off in sales. Netgem reported that supplies of its boxes to Australia during this year had fallen back and that it did not expect sales in Australia to be meaningful next year.
Netgem confirmed that it would be supplying boxes to the UK’s EE new pay-TV venture, and to Sri Lanka’s IPTV service, Peo TV which included provision for HDTV, catch-up TV,VOD and e-learning services.
Drilling down into the sales numbers, Netgem’s TV division sales fell 14 per cent to €9.1 million, while its ‘Netbox’ sales fell by 16 per cent to €11.4 million. Overall, Netgem’s revenue rose by 1 per cent to €58.3 million.