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Netgem hit by hard disk shortage

French TV technology company Netgem posted sharp drop in revenue for the first quarter, with sales of €18.4 million compared with €25.7 million for the same period last year.

French revenues were down 31%, while international revenues fell by 25%. The company said that international sales bore the impact of the global shortage of hard disk drives resulting from flooding in Thailand last year. The company said this situation was now being resolved and that it was still in line to double international revenues by 2014.