Mirada PLC Soft commercial launch and trade update (4383U)
April 07 2016 - 2:00AM
UK Regulatory
TIDMMIRA
RNS Number : 4383U
Mirada PLC
07 April 2016
Mirada plc
("Mirada" or "the Company")
Soft commercial launch of Mirada's platform in Mexico and post
year-end trade update
Mirada plc (AIM: MIRA), one of the leading providers of
integrated software solutions for Digital TV Operators and
Broadcasters, is delighted to announce the soft commercial launch
of the Company's Iris Multiscreen solution ("Iris") for the
Company's Tier 1 Operator in Mexico (the "Customer"). This launch
corresponds to the major contract win announced on 19 May 2014,
which was followed by the first rollout announced on 17 February
2015.
During this soft commercial roll out, the Customer's new Pay TV
platform, including the Iris full product suite, is being deployed
among a limited number of commercial users across the four
remaining networks as announced in the Company's interim results on
30 December 2015, in order to confirm the smooth functioning of the
Customer's internal and external logistics and user support
channels.
This soft commercial launch is the final stage prior to the full
commercial rollout of Iris across the Customers subscriber base
over the remaining four networks (the "Commercial Launch").
However, despite the Commercial Launch commencing as scheduled,
certain revenues due to be recognised in the financial year ended
31 March 2016 have been deferred to the next fiscal year, and
although the first network roll out is performing ahead of
management expectations, total revenues for the year ended 31 March
2016 will be significantly below market expectations albeit ahead
of the previous financial year.
Cash collections have been strong and cash at bank at 31 March
2016 was around GBP0.6 million.
Jose Luis Vazquez, CEO of Mirada PLC, commented: "We are proud
to confirm the commencement of the soft commercial launch of our
Iris Multiscreen solution, already enjoyed by the Customer's
commercial users. This reaffirms our position within the Latin
American market and demonstrates our ability to successfully
integrate Mirada's products with Tier-1 customers."
Enquiries:
Mirada plc +44 (0) 203 751 0320
José Luis Vázquez, investors@mirada.tv
Chief Executive Officer
Newgate Communications +44 (0) 207 653 9850
Bob Huxford mirada@newgatecomms.com
Robyn McConnachie
Ed Treadwell
Arden Partners plc (Nomad
and Broker)
James Felix (Corporate
Finance)
Ciaran Walsh (Corporate
Finance)
Catherine Miles (Corporate
Broking) +44 (0) 207 614 5900
About Mirada
Mirada creates and manages products and services for digital TV
operators and broadcasters. With over 15 years of experience, the
Company focuses on the future of Digital TV - Multiscreen
cross-platform navigation - anytime, anywhere. It offers a complete
suite of end-to-end modular products for STBs, PC, smartphones and
tablets, all with innovative state-of-the-art UI designs.
Mirada's products and solutions have been deployed by some of
the biggest names in digital media and broadcasting including
Televisa, Telefonica, Sky, Virgin Media, BBC, ITV and France
Telecom. Headquartered in London, Mirada has commercial offices
across Europe and Latin America and operates development centres in
the UK and Spain. For more information, visit www.mirada.tv
This information is provided by RNS
The company news service from the London Stock Exchange
END
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