Amino Technologies Returns to Growth in 2nd Half 2014

Cambridge, UK, February 2, 2015--Amino Technologies plc. a provider of  digital entertainment solutions for IPTV, OTT and in-home multimedia distribution, announced audited results for the fiscal year ended 30 November 2014. Revenues were in line with expectations at £36.2m (2013: £35.9m) with return to growth in the second half. Gross margin was up 1 percentage point to 46.3% (2013: 45.3%)

Other highlights include:

- EBITDA before exceptional items increased by 11% to £6.7m (2013: £6.0m)

- Profit before exceptional items and tax increased by 23% to £4.2m¹ (2013: £3.4m)

- Profit before tax after exceptional items of £4.0m (2013: £4.2m)

- Strong cash generation from operations with period-end net cash up 6% to £20.8m (2013: £19.5m), equivalent to 40.0p per share (2013: 37p per share) after share buyback of £1.4m and dividend of £1.9m paid in the period

- Material increase in the full year dividend to 5.0p, up 45% year on year (2013: 3.45p), with a continuation in the progressive dividend policy for the dividends relating to the two financial periods to November 2016 of growth of no less than 10% per annum

- Positive outlook for the year ahead, with expectation of continued revenue growth as well as further profit growth

Operational highlights:

- Significant expansion of product offering with good traction achieved in key markets

- Strong revenue growth in North America and emerging markets of LATAM and Eastern Europe

- Investment in sales engine and lead generation strengthened

- Continued delivery of efficient supply chain and procurement  

Commenting on the results, Keith Todd CBE, Non-Executive Chairman, stated: "2014 was an important year for Amino where we have turned the corner and moved into a period where we can anticipate top line growth in addition to profit growth. Our discipline on cost control and gross margin enabled the Company to end the year with a record profit and net cash position. The investments we have made into the new product portfolio will contribute to the anticipated full year revenue growth in 2015.  In addition to our actions to drive the Group's financial performance, we have materially increased dividends and continue to review acquisition opportunities in the market. We are pleased to say the outlook for 2015 is positive."