22nd Jun 2006 07:02
Adamind Ltd22 June 2006 22 June 2006 Adamind Ltd ("Adamind" or the "Company") Trading Statement Adamind Ltd, a leading global supplier of media adaptation software in the mobile messaging, content and convergence services markets, provides the following trading update. The Company expects the 2006 revenue split to be substantially weighted towards the second half due to: • delays in customer upgrades via channel partners, in particular, the Company's largest channel partner; • delays in the completion of a number of content deals; and • increased emphasis on direct sales which have a longer sales cycle As a result, the Company will report revenues substantially below market expectations for the first half of 2006. However, the Company still believes it will deliver significant year on yeargrowth in revenue and customer base. The Company's largest channel partner,referred to above, has now begun its customer upgrade programme and a number ofdiscussions relating to content deals are at an advanced stage. Adamind has continued to make further progress during the first half of 2006,including: • capacity and feature upgrades to existing customers in Western Europe; • expansion of its global footprint into new fast growing markets including China and India; • finalising the upsell of new products with existing channels, for example, device management and media adaptation for service delivery platforms; • continued progress with content providers, including the first content application service provider being launched with a customer in Malaysia; • early stage progress in the convergence market around fixed and mobile internet content delivery; and • the Company's media adaptation software has been deployed by more than 100 networks including Verizon Wireless, North America's leading mobile network, Taiwan Mobile and Universal Music Mobile US, a subsidiary of Universal Music Group. Adamind's pipeline of new orders for the second half and beyond remains strongand the Company continues to make steady progress towards signing new licensingdeals as well as capacity upgrades from network operators and content ownersworldwide. However, the outcome for the first half means that there is a stronglikelihood that the results for the full year will be lower than expected. The Company's balance sheet remains robust with net cash of $24.3m as at 31 May2006. Enquiries: Adamind +44 (0)20 7929 8989 on the day and thereafterShailendra Jain, CEO +1 650 353 3032 Corfin CommunicationsHarry Chathli, Neil Thapar +44 (0)20 7929 8989 Notes to the Editor About Adamind Adamind Ltd, whose shares are listed on London's AIM market (Ticker: ADA), is aprovider of software that enables mobile multimedia content and convergedcommunications services. The company addresses the interoperability challengethat exists between different mobile devices to receive and process media richcontent. The Adamind Spire(TM) platform provides media adaptation and enhancementsoftware enabling service operators to successfully deploy messaging, contentand next generation convergence services; generate new revenue streams; anddrive key new value-added-services (VAS) enablers such as advertising, branding,DRM and anti-abuse support. With over 100 deployments in some of the world'smajor mobile operator networks and content providers such as Universal MobileMusic, Adamind is strategically poised to enable the promise of the MobileLifestyle revolution. Adamind has strategic relationships with majorinfrastructure vendors and system integrators including Ericsson, HP, IBM,Huawei, Accenture, LogicaCMG, Motorola, Openwave, Critical Path and CBOSS.www.adamind.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Adams