24th Jan 2006 09:48
Amino Technologies PLC24 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 broadbandnetwork software and systems company, wishes to update the guidance given on 28November 2005 for the year ended 30 November 2005 ahead of the full announcementof results on Monday 30 January 2006. The results for 2005 included a contribution to revenue and profit from thelicence agreed with AS Intercom Ltd ("AS Intercom"). Although the licenceagreement was signed in early November 2005, announcement was deferred until28th November 2005 as certain tests had to be met before any revenue could berecognised in the year to 30 November 2005. The Board of Amino concluded thatthe necessary tests had been met before the year end and, accordingly, gaveguidance 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-endtrading update, AS Intercom identified that certain terms of the licence must bechanged, primarily in order to comply with Russian banking regulations. Theseregulations required that the changes could only be reflected in a revisedlicence and this was signed in December 2005. All other key commercial terms ofthe licence remained unchanged. As the substance of the licence remained unchanged, the Board continued tobelieve that it was appropriate to recognise the licence revenue in the year to30th November 2005. However, as the audit for the year nears completion, theBoard has been advised by the Company's auditors that this revised licence meansthat approximately £1.3m of revenue and £1.2m of profit now can not berecognised in the year to 30 November 2005 and will instead be included in theresults for the current financial year to 30 November 2006. Ends CONTACTS Amino Technologies: 01954-234100Grant Masom, Chairman www.aminocom.comBob Giddy, Chief ExecutiveStuart Darling, Finance Director Bankside: 020-7367-8888Steve Liebmann or Susan Scott This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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