LONDON (ShareCast) - Online video services provider Amino Technologies (LSE: AMO.L - news) expects to make an operating loss at the interim
stage as a result of revenue shortfalls in the Americas and an increase in its cost base following the merger with Tilgin IPTV.
After an operational review the board has identified cost savings that will result in a reduction in run-rate operating expenses in the second half of the year of £4m per annum in comparison with the first half performance.
As at the end of May the company had net cash of £8.8m, down from £14.4m at the end of November 2008.
The company said that uptake of internet television in the Americas has been slower than expected, though there have been signs of a pick-up in high-definition (HD) product sales towards the end of the six month reporting period to end-May.
On the upside, Amino's European division demonstrated growth in both unit shipments and revenues compared with the corresponding period last year.
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