7th Nov 2013 15:30
LONDON (Alliance News) - Audiovisual content interaction company Mirada PLC Thursday said it has made good commercial progress in the first half of the year, and has secured a USD1.4 million trial contract for its multi-screen product, iris, that could lead to a significant revenue boost if the customer decides to roll out the product.
Mirada's shares were Thursday quoted at 11.10 pence, up 12.4%.
The contract is with an established digital television operator based in Latin American, which has an existing installed subscriber base of several million customers, according to Mirada.
AIM-listed Mirada, which creates and manages services for digital TV platforms and broadcasters which enable consumers to interact with, and purchase, digital content, is being paid USD1.4 million for the deployment and trial of the product. Most of the revenue will be recognised in the second half of the financial year.
"If the product is rolled out across the customer's existing subscriber base, the licence fees generated over a three year period will far exceed the group's existing annual turnover," Jose Luis Vazquez, chief executive, said on the same day as the company's annual general meeting.
"The rapid growth we have experienced in the Latin American market [...] has led to a high level of
recognition of mirada's products in the region. This has led to further substantial opportunities arising, and we expect to be able to make announcements on the progress of these opportunities in the coming months," Vazquez added.
Mirada expects the work on the project to be completed by June 2014.
By Samuel Agini; [email protected]; @samuelagini
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