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Amino technologies said it expected first-half revenues to fall 15% as the company made 'good progress' with its transformation programme targeting $5m in cost savings.
For the six months ended 31 May, revenues were expected to fall approximately 15% to $35m from $41.2m a year earlier.
Net cash at 31 May 2019 was $19.3m, down from $15.0m a year earlier, reflecting continued strong margins and cash conversion, the company said.
The turnaround programme, announced in February, was completed on schedule in April 2019 and was expected to deliver annualised cost savings of $5m as planned, the company added.
'We have made good progress on our new strategic focus, which is intended to support a more resilient business model, improved operating margins and recurring revenue in the medium term,' said Donald McGarva, Amino Chief Executive Officer,
'The first half of 2019 has provided further evidence that Amino offers pay TV operators the ability to deliver cost effective modern TV experiences.'