Amino suffers MPEG-4 uptake delays
Wednesday, October 25, 2006
Amino Technologies plc, the Cambridge based broadband network software and systems company, has said that industry-wide issues relating to the MPEG-4 technologies have delayed the uptake of these products and, as a result MPEG-4 product shipments to date have been restricted to 'trial' volumes.
Financial results for the full year are now expected to be revenues of approximately £25 million (FY2005: £23.5 million) and a loss before tax in the region of £1.5 million (FY2005: profit of £0.06 million).
The introduction and volume deployment of MPEG-4 set-top boxes is dependent upon the availability, affordability and integration of a completely new set of technologies including semiconductor chips, conditional access, middleware and internet browser software. Whilst the Group has launched three new MPEG-4 products in the year, delays in the availability of semiconductor chips and the the associated chip manufacturer's driver software has had a 'knock-on' effect on the integration of key IPTV software technologies.
Amino said it is confident that it will be able to maintain its market leading position as the market transitions from MPEG-2 into MPEG-4.
Amno also announced that the composition of the Board is being reviewed in order to create a structure to take the Group into its next phase of development. Grant Masom (non-executive Chairman), Nick Kuenssberg (non-executive director) and David Gammon (non-executive director) will leave Amino's Board towards the end of January 2007 or earlier, allowing time for an orderly transition. The Group will use this period to seek a new non-executive Chairman and a further non-executive director.
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