Amino announces its unaudited consolidated results for the period ended 31 May 2011, including news of a third order from Telecom Italia.

Financial overview

• 36.2% increase in revenue to £24.7m (H1 2010: £18.1m) - Third consecutive H1 revenue growth
• 33.5% increase in gross profit to £6.0m (H1 2010: £4.5m)
• Adjusted* gross margin increased by 6.0 percentage points to 35.7% (H1 2010: 29.7%)
• Net cash balance has improved substantially to £11.6m (30 Nov 2010: £3.6m)
• Operating loss reduced to £0.4m, down by £0.6m (H1 2010: loss of £1.0m)

* Adjusted gross margin excludes Telecom Italia sales, Forex impact and provision for legacy stock

Operational overview

• Total shipments up 23% to 298,000 (H1 2010: 243,000)
• Order book of 153k units (H1 2010: 250k units) underpins revenue visibility into H2 2011
• Improved supply chain management and component simplification programme feeding through to improved margins
• OTT market developments offer significant opportunities for growth
• Third order from Telecom Italia for hybrid/OTT technology underlines growing market traction and revenue contribution
• Amino positioned as world leader in price/performance ratio, roadmap and innovation according to independent industry analysts Infonetics Research