Netgem had no operating income in the first half of this year due to a 36% year-on-year increase in operating expenses, which amounted to €14.9 million.
The company now reports its hardware activities as NetBox and software and services as Netgem TV.
What is more, it no longer distinguishes between its French and international operations.
Its revenues in H1 amounted to €37.7 million (+12%), of which Netgem TV contributed €17.9 million (+19%) and NetBox €19.8 million (+7%).
Its net loss (group share) of €0.6 million contrasted with a net profit of €3.7 million a year earlier.
Significantly, Netgem expects a very significant drop in shipments in H2 in Australia and to not achieve its objective of doubling international revenue.
It sees the arrival of European mobile operators in the triple-play market as the main opportunity in the coming months.
In advance of this, it has separated hardware and software and services, introduced greater sharing of support functions and services and stricter management of overheads and R&D expenses.
