Amino Technologies PLC
24 January 2006
FOR IMMEDIATE RELEASE 24 January 2006
AMINO TECHNOLOGIES PLC
AMENDMENT TO PERIOD-END GUIDANCE
Amino Technologies plc ('Amino'; stock code: AMO), the Cambridge based broadband
network software and systems company, wishes to update the guidance given on 28
November 2005 for the year ended 30 November 2005 ahead of the full announcement
of results on Monday 30 January 2006.
The results for 2005 included a contribution to revenue and profit from the
licence agreed with AS Intercom Ltd ('AS Intercom'). Although the licence
agreement was signed in early November 2005, announcement was deferred until
28th November 2005 as certain tests had to be met before any revenue could be
recognised in the year to 30 November 2005. The Board of Amino concluded that
the necessary tests had been met before the year end and, accordingly, gave
guidance that profit before tax would be in the range of £1.0m to £1.5m.
Subsequent to the announcement of the licence agreement and the period-end
trading update, AS Intercom identified that certain terms of the licence must be
changed, primarily in order to comply with Russian banking regulations. These
regulations required that the changes could only be reflected in a revised
licence and this was signed in December 2005. All other key commercial terms of
the licence remained unchanged.
As the substance of the licence remained unchanged, the Board continued to
believe that it was appropriate to recognise the licence revenue in the year to
30th November 2005. However, as the audit for the year nears completion, the
Board has been advised by the Company's auditors that this revised licence means
that approximately £1.3m of revenue and £1.2m of profit now can not be
recognised in the year to 30 November 2005 and will instead be included in the
results for the current financial year to 30 November 2006.
Ends
CONTACTS
Amino Technologies: 01954-234100
Grant Masom, Chairman www.aminocom.com
Bob Giddy, Chief Executive
Stuart Darling, Finance Director
Bankside: 020-7367-8888
Steve Liebmann or Susan Scott
This information is provided by RNS
The company news service from the London Stock Exchange
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