6 Jun 2019 07:00
6 June 2019
AMINO TECHNOLOGIES PLC
("Amino", the "Company" or the "Group")
Trading update
Full year expectations unchanged
Amino, the global provider of media and entertainment technology solutions to network operators, announces a trading update for the six months ended 31 May 2019 ("H1 2019").
We have made good progress with the transformation programme announced in February 2019, which will support an acceleration of our focus on value-added software, services and hardware. The programme was completed on schedule in April 2019 and is expected to deliver annualised cost savings of $5m as planned. The Board's expectations for the full year therefore remain unchanged.
H1 2019 revenues are expected to be approximately $35m (H1 2018: $41.2m). Net cash at 31 May 2019 was $19.3m (31 May 2018: $15.0m), reflecting continued strong margins and cash conversion.
Consistent with our strategy of delivering value-added software, services and hardware in the period we have:
· Delivered our first major sale of AminoOS through Amino's new Original Design Manufacturer partnership channel (for a top-tier pay TV operator in the APAC region); and
· Deployed our AminoTV solution on a multi tenanted platform to deliver modern TV experiences in the Netherlands (for Dutch cable and internet service providers Delta and Caiway).
Amino will announce results for the six months ended 31 May 2019 on 9 July 2019.
Donald McGarva, Amino Chief Executive Officer, said:
"We have made good progress on our new strategic focus, which is intended to support a more resilient business model, improved operating margins and recurring revenue in the medium term. The first half of 2019 has provided further evidence that Amino offers pay TV operators the ability to deliver cost effective modern TV experiences."
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 Broker) | +44 (0)20 7220 0500 |
Matt Goode / Carl Holmes / Simon Hicks (Corporate Finance) Tim Redfern / Richard Chambers (Equity Capital Markets) | |
FTI Consulting (Financial communications) | +44 (0)20 3727 1000 |
Jamie Ricketts / Alex Le May / Chris Birt |
About Amino Technologies plc
Amino is a global leader in media and entertainment technology solutions and an IPTV pioneer, working with over 250 operators in 100-plus countries. Drawing on more than 20 years' experience delivering IP/cloud innovation, Amino enables operators to meet the challenges they face as broadcast TV and online video moves to an all-IP future with managed over-the-top (OTT) offerings. We are expert in software, hardware and cloud implementation - able to deploy our own leading-edge technologies and integrate these with third-party and 'upcycled' legacy systems. At the forefront of the evolution of TV Everywhere, Amino helps operators to provide the features and functionality modern consumers are looking for in a multiscreen, multi-device entertainment world.
Having deployed over 10 million customer premise devices and the software necessary to link the back end to the user interface, we understand the issues operators face. We partner with operators to deliver end-to-end, operator-ready solutions that enable next-generation customer experiences. We 'upcycle' existing infrastructure to support more advanced services and integrate seamlessly with new technologies to form a unified ecosystem. The result is a fresh consumer offering based on a consistent user experience across all screens, building brand reputation, stemming churn, growing subscribers and increasing average revenue per user (ARPU).
Amino Communications is a wholly-owned subsidiary of Amino Technologies PLC and listed on the London Stock Exchange Alternative Investment Market (AIM: symbol AMO), with headquarters in Cambridge, United Kingdom, and global offices in California, Finland, Hong Kong and Portugal. For more details, visit www.Aminocom.com