Amino Technologies PLC – Trading Update

Amino Technologies PLC – Trading Update

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.

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."

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