Amino back in black after strong year

IP set-top vendor Amino returned to operating profitability last year, posting gross profits of £14.5 million (€17 million), up 16% for the full year ending November 30.

Chairman Keith Todd said the company was taking advantage of the increasing popularity of IP-based TV services from both traditional pay TV operators and pure OTT providers. The company has seen particularly strong growth in North America and also in western Europe, where it secured deals with Telecom Italia for the Cubovision service and, more recently, with Vodafone Netherlands for IPTV set-tops.

Full year revenue was up 18% to £51.8 million, while EBITDA rose by €3.8 million to €4.4 million.

“Amino has delivered a good performance in what has undoubtedly been a challenging year for the global technology industry,” said Todd. “This year Amino has returned to operating profitability, delivered improvements in margin, generated encouraging revenue growth and significantly strengthened its cash position. All of this has been enabled by a rigorous focus on operational management and by the market’s growing acceptance of our stronger, simplified product range.”