Amino’s hard work rewarded with H1 profit

UK set-top box maker Amino Technologies has reported a small profit for the first half of this year on shrinking revenues, thanks to a combination of tight supply chain management, higher quality sales, repeat orders in Western Europe and North America, and signs of a recovery in Eastern Europe.

Operating profits for the first half of this year reached GB£ 0.2mn (US$ 0.3mn), compared to a loss of GB£ 0.4mn one year earlier, while revenues fell from GB£ 24.7mn in the first half of 2011 to GB£ 20.1mn in the same period of this year.

Keith Todd, Non-Executive Chairman said: “In the first half we have continued to see the benefits of the hard work and encouraging, profitable performance delivered by the Amino team last year.

“We have maintained good progress in our core markets, both in Western Europe and in North America, where our partnership network continues to grow.  Our investments in new products are also improving our competitiveness and opening up opportunities for growth in new markets.”

The company states that it benefitted from a GB£ 3.7mn increase in sales to the Netherlands in the first six months of this year, and saw further follow-on orders from Telecom Italia, which benefitted revenues by GB£ 1.3mn.

Amino adds that these positive factors were partially offset by a continuation in unsettled conditions elsewhere, and particularly in Russia, with structural issues within the Russian market remaining unresolved, leading to a GB£ 0.4mn sales decline year-on-year.

Sales traction for the new hybrid/OTT media gateway it launched at the CES show last January is only expected to arrive in 2013, which could limit short-term OTT revenue growth, and the company adds that it is also working on a separate lower-price OTT product for launch in 2013.

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