Netgem takes loss as it invests in expansion

French TV technology and services provider Netgem posted a small net loss on increased revenues for the first half as it continued to invest in its expansion plans in Europe, Asia Pacific and Mexico.

The group posted revenues of €37.7 million, up 12%, with a net loss of €0.6 million, compared with a profit of €3.7 million last year. Operating income dropped from €4.1 million to zero.

The company continued to invest in its hardware and software platforms as well as the Videofutur service. Netgem TV, its services arm, posted revenues of 217.9 million, up 19%, while the NetBox arm saw a 7% revenue increase to €19.8 million. The company said that more of its software value was now coming from mobile and cloud activities.

The company merged its VideoFutur brand into a new pan-European Netgem TV unit, offering a fully managed and shared TV platform as a service in the cloud.