Revenues rise while profit falls at broadband specialist
An 80 per cent increase in unit shipments and 77 rise in revenues marked a year of progress for Amino Technologies, the Cambridge broadband network software and systems group.Turnover for the year to end-November, jumped to £23.5m from £13.3m and shipments were up to 314,000 units from 174,000.
Pre-tax profit, however, fell to £0.06m from £0.20m. The share price receded slightly on the news.
Chairman Grant Masom said that new order intake grew strongly, particularly over the past six months, suggesting an annualised run rate in excess of £38m. “This has contributed to a healthy order backlog entering the new financial year,” he said.
Net cash balances and short term investments at the year-end were £14.5m (2004: £6.4m), reflecting the share placing last May that raised £15.3m (net of expenses) and an increase in working capital towards the year end arising from the increased run rate of activity.
“As the business grows and the IPTV market develops, the board anticipates an improving visibility for future revenues and a successful outcome to the year.”
Amino says its licensing business is now beginning to develop traction. It is in advanced talks with several major consumer electronics product and systems integrator corporations.
The proposition is that they will use Amino's IntActTM software technology as the core operating system for their own range of IPTV STBs.
“We are confident that we will close a number of these opportunities in early 2006, which will validate our licensing model and reinforce the market leadership position that Amino has
established for customer premises IPTV technologies,” said Masom.
• Amino has worked with Canal Digital to bring IPTV services to subscribers within the Nordic region. Canal Digital deployed AmiNET110 IPTV set-top boxes to subscriber homes to offer full IPTV services by the end of 2005.