Amino Technologies Final Results For The Year Ended 30 November 2008Monday, February 2nd, 2009
- The Group has successfully transitioned from MPEG-2 SD to MPEG-4 HD technology with a number of industry award winning and market leading products. The reduced demand for MPEG-2 SD products in this transition resulted in lower shipments in our important North American market, causing a 19% reduction in shipments to 484,000 (2007: 598,000). An additional 20,000 units were shipped under licence (2007: nil)
- Strategically significant acquisitions of AssetHouse and, after the year end, Tilgin IPTV
- Licence and services sales up by 82%, MPEG-4 shipments increased by 93%
- Two million AmiNET™ set-top boxes sold. With the addition of Tilgin’s Mood brand to the product range, Amino now has over 2.5 million STBs in the market
Amino Technologies plc (“Amino”; stock code: AMO), the Cambridge-based broadband network software and systems company, announces its audited final results for the year ended 30 November 2008.
New customer wins and partnerships
One of the most exciting new business wins during the year was the sale of our AssetFactory offering to Sezmi, since this was the first sale that AssetHouse had achieved as part of the Amino Group. We had further positive news from the US in November, when we announced the first deployment of our AmiNET530 set top boxes in the North American market with systems integrator partner LTS. November also saw our all digital MPEG-4 HD technology selected by Lumexis Corporation, the provider of in-flight airline entertainment systems, to provide 100% digital HD IPTV to the passengers of a major global airline.
We also announced several landmark distribution agreements during the latter stages of the year, including a global co-operation agreement with Ericsson. A major contract with Estonian national operator Elion to deploy our MPEG-4 HD PVR products was also secured.
In December we reached an important milestone with the sale of our two millionth AmiNET™ STB. Reaching this milestone was a strong vindication of our leading product range which is now deployed in over 80 countries worldwide.
Results for the year
I (Amino’s CFO) am pleased to report that the Group has continued to improve its profitability despite the transition in demand for MPEG-4 HD from MPEG-2 SD technologies which resulted in lower shipments in our North American market. Whilst shipments of devices decreased by 19% to 484,000 (2007: 598,000), revenue reduced by only 1.1% to £31.90m (2007: £32.25m) primarily due to further transition in sales mix to higher priced MPEG-4 HD (single stream and PVR) products and a stronger US$ in the fourth quarter. Shipments of MPEG-HD devices increased to 89,000 (2007: 46,000).
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