(Sharecast News) - Media technology company Amino Technologies said on Tuesday that first-half revenues were expected to be "significantly ahead" of prior year comparatives, with continued improvement seen in both earnings quality and visibility.
Amino stated it had traded well during the period, with interim revenues projected to be approximately $45.3m, 19% ahead of the prior year, with reported higher-margin software and services revenues expected to be approximately $10.0m, up from $9.7m, and exit run-rate annual recurring revenues anticipated to be roughly $13.8m, 37% ahead of the previous year figure.
The AIM-listed group also said it had made "strong progress" against its 2025 strategy, capitalising on the convergence of streaming services and traditional Pay TV by acquiring Nordija, a Danish streaming and Pay TV platform specialist during May.
Chief executive Donald McGarva said: "We have had an excellent first half. We have grown revenue by 19% and recurring revenue by 37% and enter the second half of the year confident in meeting our full-year expectations. We have executed strongly on our strategy and this progress provides us with the confidence to fulfil our ambitious growth plans.
"We continue to focus on growing software and recurring revenue whilst at the same time strengthening our long-term customer relationships and making it easy for people to connect to the TV and video they love."
As of 0940 BST, Amino shares were up 3.36% at 154.0p.
31 May 2016 08:26