European STB Netgem reports strong first quarter

Paris-based STB maker Netgem said its first quarter revenues increased 39 percent from the same quarter a year ago to €46.9 million, and predicted strong growth through the remainder of the year as Netgem looked to accelerate its international growth. It says it will implement an aggressive investment plan that will shore up its technical, marketing and sales teams and enhance its product offerings.

Netgem technology is employed in more than 2.5 million homes globally and is among the Top 10 most deployed IPTV solutions worldwide; customers include SFR in France, Telstra of Australia, Monaco Telecom, Elisa in Finland, Algeria Telecom, Melita Telecom and FetchTV in the UK.

Earlier this month, Melita picked the company to provide PVR set-top boxes for its high-definition pay-TV service, delivered over a hybrid cable and IPTV network. The new box is expected to be online in time for this year's Football World Cup in South Africa, enabling subscribers to record, pause and rewind live matches and other programs, as well as access the multiple language commentary throughout the tournament.

A key contract for Netgem is held with mobile company turned IPTV operator SFR, which produces revenues both from software licences and new terminal deliveries. Sales outside of SFR increased seven-fold including deliveries made on some of the company's recently announced contracts. In addition to SFR, Netgem counts Telstra of Australia, Monaco Telecom, Elisa in Finland, Algeria Telecom, Melita Telecom and FetchTV in the UK among its customers. However, France with sales of €43.3 million continues to represent the lion's share of business.

For more:
- see this release

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