Amino Technologies PLC
04 October 2004
FOR IMMEDIATE RELEASE 4 October 2004
AMINO TECHNOLOGIES PLC
BROUGHT FORWARD INVESTMENT IN THE BUSINESS
Amino Technologies plc ('Amino'; stock code: AMO), the Cambridge based broadband
network software and systems company, announces that it has decided to bring
forward investment in people, resources and premises originally planned for 2005
to enable it to take advantage of substantial growth opportunities in its
business.
As set out in more detail below, the Board has decided to bring forward
commitments to additional expenditure of approximately £0.5 million in the
current year in order to put in place the sales, marketing, engineering and
support facilities required to meet the rapidly growing market demand.
In the three months since the end of the period covered by its interim statement
for the six months to 30 June 2004, Amino has continued to see marked increases
in businesses activity as the IPTV market develops. Since 30 June 2004, Amino
has experienced increases in each of its key business development metrics:
• The total number of customer companies evaluating Amino products up
to 407 (from 366);
Of which:
• The number of customers placing repeat orders after preliminary
evaluation up to 77 (from 24);
• The number of customers undertaking extensive field trials up to 35
(from 30); and
• The number of customers in volume roll-out up to 24 (from 20).
Amino's order book in respect of scheduled deliveries stands at its highest
level to date and significant contract wins have been made since the end of the
half year in Southern Europe, Russia and the USA.
The brought forward investment comprises:
• Expansion in US sales and support including the relocation of one of
the Group's most senior executives to the Atlanta office;
• Establishment of a sales and support office in Hong Kong and a
senior sales appointment for Asia Pacific;
• Increase in sales, marketing and operational staff taking the Group
headcount to 80 by end-November (62 as at 30 June); and
• Expansion of the engineering and HQ facilities in Swavesey,
Cambridge.
Amino is confident of meeting revenue expectations for the current year, being
the 11 months to 30 November 2004. However, the increased investment costs to be
incurred in the current financial year are unlikely to be mitigated by further
increased revenues within this same period. However, there will be a reduction
in non-recurring costs, and therefore a commensurate uplift in profits, in 2005.
The Company also expects that the accelerated investment made now, together with
the improved growth prospects referred to above, will benefit the Group's
trading and results performance for 2005 and beyond significantly ahead of its
initial expectations.
Ends
CONTACTS
Amino Technologies: 01954-234100
Bob Giddy, Chief Executive www.aminocom.com
Stuart Darling, Finance Director
Bankside: 020-7444-4163 / 07802-888159
Steve Liebmann or Susan Scott
This information is provided by RNS
The company news service from the London Stock Exchange
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