Amino results for the year ended 30 November 2013

Amino Technologies plc (“Amino” or the “Company”; stock code: AMO), the Cambridge-based leader in digital entertainment solutions for IPTV, OTT and in-home multimedia distribution, announces audited results for the year ended 30 November 2013.

Revenue for the full year was £35.9m – 14% lower than that achieved in 2012 (2012: £41.7m), largely due to stronger demand for lower priced, lower specification products coupled with reduced levels of demand from a specific customer in Western Europe.

Lower sales have been experienced in Western Europe, particularly in Holland and Italy:

• Dutch sales totalled £7.0m, £4.5m lower than 2012 (2012: £11.5m). This was largely due to one specific customer which took a significant end of product life order in 2012 and as a result is unlikely to require further product until 2015
• Italian sales of high specification product in 2012 totalled £1.4m. This customer has limited requirement for further products of this kind although it is anticipated that there may be a requirement for lower specification and lower priced product during 2015.

Difficulties in the Russian market that were first identified in 2011 have continued with a resulting reduction in revenue of £0.7m to £0.8m (2012: £1.5m).

North American sales remain broadly in line with the prior year at £15.3m (2012: £16.0m).

Growth has continued in Eastern Europe and Latin America where the Company has won a number of tenders with its lower cost, lower functionality product designed specifically to tackle highly competitive market dynamics in these regions.