Netgem has posted revenues of 20.5 million for the third quarter, down 15% on the same period in 2013.

However, those for the first nine months of the year were, at 58.3 million, 1% higher than in 2013.

Netgem accounted for 9.1 million of revenues in Q3 (-14% year-on-year) and Netbox the remaining 11.4 million (-16%), while the corresponding nine-month figures were 27 million (+5%) and 31.3 million (-3%).

Alongside the results the company has announced two new commercial deals. The first will see it provide Netgem TV for EE TV, the new TV service due to be launched by the mobile operator EE in the UK this autumn. The second will see it help Sri Lanka Telecom deploy the first IPTV service in the country.

Netgem has also confirmed a sharp drop in shipments to Australia in the second half of this year, adding that it does not expect any activity in the country in 2015 other than maintaining the existing park.