Amino Technologies has moved into profit, but has seen a fall in underlying revenues.
The Cambridge-based IPTV specialist recorded an EBITDA of £6.2 million, an increase of 42.2% and operating profit of £2.8 million, compared to a 2011 loss of 0.6 million.
Amino has benefitted by centralizing its primary technology facility in Cambridge from Sweden at a cost of £800,000.
Demand for product from North America and Western Europe has remained solid with repeat orders from long-term customers making a ‘solid’ contribution.
However, performance in other markets has been mixed with consolidation in the Russian market impacting on sales, while the company makes good progress in Latin America.
Sales in Russia were £2 million lower than those achieved in 2011.