Overview:
Financial results
- Gross profit up 20.8% to £17.5m (2011: £14.5m)
- Underlying Gross margins up 9.3 percentage points to 42.0% (2011: 32.7%)
- EBITDA of £6.2m, an increase of 42.2% (2011: £4.4m)
- Operating profit of £2.8m (2011: loss of £0.6m)
- Underlying revenue down 6.1% to £41.7m (underlying 2011: £44.4m; reported 2011: £51.8m) reflecting continued focus on profitability
- Year-end net cash 21.3% higher at £17.1m (2011: £14.1m)
- Proposed final dividend of 3p, an increase of 50% (2011: 2p) with an expectation of continued dividend growth of no less than 15 per cent per annum for each of the next two years
Operational highlights:
- Strong focus on operational management
o Improved execution delivered by new, refreshed management team
o Strong working relationships maintained with supply chain partners
o Primary technology facility located in the Cambridge area from 2013 to achieve productivity improvements
- Strengthening the Amino product range
o Innovative new products launched
o More focused portfolio range proving key differentiator against competitors
o Aminet software stack now integrated across entire product range
o Technology roadmap to ensure faster development of market-leading solutions
- Continued delivery to existing and new markets
o Consistent demand for products in our key markets
o Signed agreement to supply tier one European operator with Live media gateway platform
Commenting on the results, Keith Todd CBE, Non-Executive Chairman, stated: "Amino has performed strongly in 2012, and we have seen significant increases in both profit and cash flow, alongside material improvements in its operational execution. This has allowed us to sharply increase shareholder returns.
Moving into 2013, we will continue to target growth which is both high margin and cash flow generative, leveraging off a simplified supply chain and more targeted product range. Whilst exercising a suitable degree of caution, we are well positioned to meet its expectations for the financial year ahead."
See www.aminocom.com
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For further information please contact:
Amino Technologies:
+44 (0)1954 234100
Keith Todd CBE, Non Executive Chairman
Donald McGarva, Chief Executive Officer
Julia Hornby, Chief Financial Officer
FTI Consulting:
+44 (0)20 7831 3113
Matt Dixon / Clare Thomas
finnCap Limited
+44 (0)20 7600 1658
Marc Young / Charlotte Stranner - Corporate Finance
Victoria Bates / Stephen Norcross - Corporate Broking
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Amino results show strong performance
28 January 2013
Amino Technologies plc (stock code: AMO), the Cambridge-based leader in digital entertainment solutions for IPTV, OTT and in-home multimedia distribution, announces audited results for the year ended 30 November 2012 which demonstrate strong growth in profitability and cash.