Amino Technologies H1 2013 Profit Surges

Cambridge, UK, July 15, 2013--Amino Technologies reported on Monday flat revenue of GBP20.1 million pounds (US$30.36 million) for the half year that ended May 31, but said its pretax profit rose to GBP2.6 million (US$3.93 million) from £200,000 (US$302,140) as the company benefited from rebates totalling GBP1.7 million (US$2.57 million) on duties paid on international product sales.

Gross profit was up 30 percent to GBP9.3 million (US$14.05 million), compared to GBP7.1 million (US$10.73 million) during the first half of 2012, while gross margin improved by 10.8 percentage points to 46.2 percent compared to 35.4 percent for the same period last year.

Amino Technologies specializes in the development and delivery of IPTV and hybrid or Over-the-Top solutions. Its OTT services include access to live TV and radio channels, movies and other video content via the Internet from an ordinary personal computer or mobile device.

Amino also has the expertise to expand the functionality of its set-top boxes so they can not only deliver television over the Internet, but also control other electronic appliances, such as heating thermostats, or burglary alarms.

Amino, founded in 1997, is based in Cambridge, UK. It started focusing on IPTV only until 2001 and only recently did it try to tap the Russian and the American markets for its products.

Keith Todd CBE, Non-Executive Chairman, said the company’s results underlines the progress Amino is making against its goal of profitable growth and improvements in shareholder returns. He said that during the period, the company enhanced its competitiveness through a clear and compelling proposition -- quality robust products, operational performance and rapid delivery to meet demanding customer expectations.

He also announced an interim dividend of 1p per share in respect of 2013 that will be payable in September 2013.

“Amino has delivered a solid set of half year results as the company continues to build on the firm foundations established over the last 18 months. Improvements in profitability, gross margins and cash position clearly indicate how the business is consistently executing against its goals.”

He also emphasized the company’s focus on quality solutions, supported by solid operational performance and a clear-sighted understanding of regional market requirements that is creating a good platform for further growth.

Having successfully established a leading position within the IPTV industry, Amino said the Board is confident that results for the full year will be in line with current market expectations.