Amino Technologies plc, the Cambridge-based leader in digital entertainment solutions for in-home multimedia distribution, announces audited results for the year ended 30 November 2011 which demonstrate strong year-on-year growth in revenue, operating profitability, adjusted margins and cash generation.
- Revenue up 18% to £51.8m (2010: £44.0m)
- Gross profit up 16% to £14.5m (2010: £12.5m)
- Adjusted* Gross margin 6 percentage points higher at 34.5% (2010: 28.5%)
- Gross margin before adjustments 28.0% (2010: 28.5%)
- EBITDA increased by £3.8m to £4.4m (2010: £0.6m)
- Operating profit before goodwill impairment £1.7m (2010: loss of £0.9m)
- Year-end cash significantly strengthened at £14.1m (2010: £3.6m)
- Proposed maiden dividend of 2p, reflecting the Board's confidence in the future and strong cash generation
* Adjusted gross profit excludes the first 50,000 OTT order for Telecom Italia at Revenue value of £7.4m (2010: nil) and zero margin (2010: nil) and Provision for legacy stock £0.8m (2010: nil)
Strong focus on operational management and robust supply chain maintained
- Improved supply chain delivering reduced costs and reduced customer lead times
- More accurate forecasting eliminating the need for spot buying
Delivered on our commitment to simplify the Amino product range
- Streamlined technology platform supported by strong industry partnerships
- Clearer, more scalable go-to-market proposition
- Entire product range is now OTT enhanced
Continued delivery of these products to customers across multiple markets
- Much improved performance in the United States and ongoing good momentum in Western Europe
- Adapting to structural change in the Russian market
- Latin America represents a growing opportunity
Commenting on the results Keith Todd CBE, Non-Executive Chairman said:
"Amino has delivered a good performance in what has undoubtedly been a challenging year for the global technology industry. This year Amino has returned to operating profitability, delivered improvements in margin, generated encouraging revenue growth and significantly strengthened its cash position. All of this has been enabled by a rigorous focus on operational management and by the market's growing acceptance of our stronger, simplified product range.
As we enter the year ahead our core focus remains execution. We will continue to deliver excellent products to customers whilst operating as efficiently and effectively as we can. By doing this, I believe we can continue to deliver further financial improvements this year and over the long term."