European IPTV middleware provider Netgem reported a full-year operating profit of $16.7 million on revenues of $112.5 million, which the company said represented a 14.9 percent margin.
But the big news for the company is its big plans for 2012. After being hobbled by a shortage of hard drives following flooding in Thailand that limited supplies, the company said the HDD supply chain is coming back to normal and said it expects to double international revenue over the 2012 to 2014 period.
The company said, because of HDD shortages early in the year, it expects only modest revenue in the first quarter of the year of about $23.4 million. But, that will change as customers, including one of its biggest, Australian national operator Telstra, continue its aggressive broadband expansion.
Netgem said it also would refocus its efforts to sell Tier 2 and Tier 3 operators its end-to-end IPTV solution, highlighting its ability to get operators a platform up and running quickly. But Netgem says it also plans to go after Tier 1 operators who have seen their deployments reach a mature life stage and who may be considering replacement products.
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