Amino to report “disappointing” financial year

IPTV set-top box vendor Amino expects its financial performance for the full year ending 30 November to be “significantly below market expectations” and will likely post a material loss for the second half of the year.

The company made the announcement ahead of the close of the financial year, blaming “order slippage and component shortages”. Despite the transition from MEPG-2 to MPEG-4 being “all but complete”, making the second half of the year “one of the best periods for order intake since the company’s inception, Amino added that orders expected to close in the period are now likely to close in the next financial year. It also said that fulfilling booked orders has proved challenging due to component shortages at its suppliers, which is likely to prevent it completing the orders.

Keith Todd, Amino non-executive chairman, said: “We are confident as a Board that we have in place a solid platform for growth in 2010 and beyond.”