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Refocusing pays off for Netgem

September 1, 2010 07.32 Europe/London By Julian Clover

Netgem’s refocusing of its core technology business has paid off for the French set-top developer to the tune of €25.9 million. Operating profits increased by 34% in the first half of 2010 while revenue increased by 6% to €74.3 million. The company is attributing the rise to efforts to bring down hardware costs. There were also additional non-recurring revenues linked to the transfer of license rights to SFR.

Consolidated net profits of €19.7 million included a €5.4 million non-recurring non-cash gain due to the deconsolidation of the VideoFutur entertainment venture.

Netgem is looking for further client wins in Europe and Asia Pacific. The company has been promoting its over-the-top television concept that brings a managed portal over an existing broadband infrastructure. Already deployed by Monaco Telecom and Australia’s Telstra its most recent win is Slovenia Telecom.

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Filed Under: Finance, Newsline, Tech Tagged With: Netgem Edited: 1 September 2010 07:33

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About Julian Clover

Julian Clover is a Media and Technology journalist based in Cambridge, UK. He works in online and printed media. Julian is also a voice on local radio. You can talk to Julian on X @julianclover, or by email at jclover@broadbandtvnews.com.

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