Amino toughs out 2009; seeing better conditions in 2010
Amino Technologies plc, the Cambridge-based provider of digital entertainment software for IPTV, Internet TV and in-home multimedia distribution, said its revenue for the year to end November 2009 was down 20.7% to £25.3m, while tough trading conditions tipped into an operating loss of £5.9m compared to a profit of £1.4m in 2008.
Chairman Keith Todd said: "2009 was a challenging year for Amino resulting in a disappointing financial outcome.
"We have worked hard during the year to build a strong base for 2010, improving our product, sales and marketing and cutting cost, against a backdrop of the global market downturn and industry-wide component shortages.
"These improvements are already yielding results with more of a robust demand in H2 and into the start of this year, as evidenced by improvements in our sales booking performance.
"The IPTV market remains attractive and we are demonstrating our ability to provide best-in-class products once more.
"Furthermore, we are very excited by the prospects in the adjacent OTT market where we have invested in a new hybrid media centre offering. Encouragingly, we are able to announce today a significant contract in this market with Amino's first Western European tier one operator win."
The company's share price gained 11% in early trading. Amino's market capitalisation is now around £18.5m.
