French set-top vendor Netgem has reported revenues of 46.9m for the first quarter, a rise of 39% year-on-year.
Much of NetgemÂs business comes from telco and IPTV operator SFR for software licences and terminal devices but sales to other customers increased seven-fold. ÂIn light of the level of profitability expected for 2010, the favourable momentum on the worldwide IPTV market and the confirmation of the GroupÂs first successes abroad, NetgemÂs 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,Â the company said in a statement.
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