French receiver manufacturer and technology group Netgem says it will place a renewed focus on its core business after last year’s spin off of the VideoFutur Entertainment venture.
The company has recently announced agreements with Elisa, Monaco Telecom and Telstra, and is continuing to work with French triple play provider SFR. It says it is committed to strengthening its workforce at technical, marketing and sales levels.
Netgem posted a 2009 operating profit of €30.6 million, double that of the previous year, on sales of €146.2 million. While technology-based activities contributed €37.4 million, an increase of 87%, to operating profit on sales of €131.3 million, the content and services of VideoFutur showed a loss of €6.8 million from €14.9 million in sales.