5 Dec 2017 07:00
Amino Technologies plc
("Amino" or "the Company")
Trading Update and Notice of Results
Profit and margins in line with market expectations
Amino Technologies plc (LSE AIM: AMO), the Cambridge-based provider of digital entertainment solutions for IPTV, Internet TV and in-home multimedia distribution, today provides the following trading update for the year ended 30 November 2017.
The Group expects to report a full year performance that demonstrates continued customer traction for its IP / cloud video software solutions and devices, despite industry-wide memory cost headwinds. Gross profit and adjusted profit before tax are expected to be in line with market expectations, whilst revenue is expected to be similar to the previous financial year due to product mix.
The Company's cash position at 30 November 2017 was £13.0m (30 November 2016: £6.2m) as a result of good operating cash conversion.
Commenting on today's announcement, Keith Todd CBE, Non-Executive Chairman said:
"I am encouraged by Amino's strong operational performance with good profit margins and excellent cash generation. As we continue to deliver momentum and scale, we are seeing growing traction for our software solutions and new product lines. We enter 2018 with a solid backlog and an excellent pipeline which provide us with confidence for the year ahead and beyond."
The Company will announce its full year results on 6 February 2018.
This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.
Ends
For further information please contact:
Amino Technologies PLC | +44 (0)1954 234100 |
Donald McGarva, Chief Executive Officer | |
Mark Carlisle, Chief Financial Officer | |
finnCap Ltd (NOMAD and Joint Broker) | +44 (0)20 7220 0500 |
Matt Goode / Carl Holmes / Simon Hicks (Corporate Finance) Simon Johnson (Corporate Broking) | |
Canaccord Genuity Limited (Joint Broker and Financial Adviser) | +44 (0)20 7523 8000 |
Simon Bridges / Emma Gabriel | |
FTI Consulting LLP (Financial PR) | +44 (0)20 3727 1000 |
Jamie Ricketts / Alex Le May / Darius Alexander |
About Amino Technologies plc
Amino Technologies plc is a global leader in innovative IP/Cloud video software and device solutions that enable service providers to transform the consumer experience. As pioneers of IPTV and with over seven million devices sold worldwide, Amino has a proven track record for rock-solid reliability, innovation and best-in-class customer care. Over 1,000 of the world's leading service providers, across 100 countries have relied on Amino to provide a seamless delivery of rich entertainment experiences. We pride ourselves in providing award-winning solutions that enable the delivery of innovative services to enrich the lives of connected consumers. Amino Technologies plc is headquartered near Cambridge, in the UK, and is listed on the AIM market of the London Stock Exchange (AIM: symbol AMO). www.aminocom.com