New orders and lower specs help Amino
July 17, 2012 09.38 Europe/London By Julian Clover

Amino Technologies has received a follow on order from Telecom Italia having previously supplied the telco with 50,000 units effectively at cost.

The Cambridge set-top and IPTV specialist recorded £20.1 million in first half revenues, a 12% improvement.

Customers in the Netherlands increased sales by £3.7 million, while Telecom Italia’s commitment drew a further £1.3 million.

However, the company described other markets, particularly Russia as “unsettled” and said structural issues remained unresolved leading to a reduction of £400,000 from the country.

East Europe was described as encouraging with a contract win for a new lower spec HD product. Following a delay in the tender process revenues will now fall in the second half.

Operating costs have been broadly unchanged year-on-year at £5.4m (2011: £5.3m) through continued effective cost control.

As a result of the improvement in gross margins and cost control, EBITDA at £1.8m is £1.1m higher than the prior year (H1 2011: £0.7m).