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Netgem revenues rise

French set-top vendor Netgem has reported revenues of €46.9m for the first quarter, a rise of 39% year-on-year.

Much of Netgem’s business comes from telco and IPTV operator SFR for software licences and terminal devices but sales to other customers increased seven-fold. “In light of the level of profitability expected for 2010, the favourable momentum on the worldwide IPTV market and the confirmation of the Group’s first successes abroad, Netgem’s management has decided to accelerate international growth by implementing an ambitious investment plan that will shore up the technical, marketing and sales teams and enhance the product offer,” the company said in a statement.