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Amino sees solid growth in face of COVID-19, debuts new Android TV for cable solution

Technology outfit Amino Technologies has reported solid growth in revenue for the year to November 30, in the face of the global COVID-19 pandemic, to the extent that it has been able to reintroduce dividends to shareholders.

Donald McGarva

In a trading update, the company saw revenues rise by around 8% to US$83 million, while adjusted operating profit was up slightly.

The company said the quality of its earnings had also improved thanks to the sale of higher margin software products, sales of which were up 50% to US$20 million.

CEO Donald McGarva said that the company had managed to maintain its financial guidance throughout the year despite the pandemic and expected to report all key metrics ahead of the equivalent last year.

McGarva said that Amino was well-placed to enable to content owners and distributors of TV programming to evolve their business models to take into account rapidly changing viewing habits – changes that have accelerated because of COVID-19.

McGarva said that the company would also look to deliver revenue and profit growth both organically through its software products and “from the execution of selective M&A opportunities”.

““In a year of unprecedented challenge, we have continued to execute our strategy and delivered a resilient performance. Despite the impact of COVID-19 we maintained our previous financial guidance throughout the year and expect to report all key performance metrics ahead of 2019. We have grown our recurring software revenues, improved the quality of our earnings, secured new customers and consequently enter the new financial year with enhanced visibility. This achievement has been made possible by the passion of our employees, our innovative software solutions and the strength of our customer relationships,” said McGarva.

Separately, Amino has launched the AminoOS powered Amigo 7XC, a solution to provide next-generation services that converge OTT and cable on Android TV. According to the company, AminoOS provides cable operators running DVB-C or hybrid DVB-C/T networks with a optimised route to delivering ultra-HD (UHD) and high-dynamic-range (HDR) content over IP on converged networks. AminoOS also gives cable operators running QAM and DVB-C a  route to benefit from the network efficiencies of migrating to IP, the company said.