Netgem : Still little sign of recovery in Q3 2020
>Q3 sales at € 6.6m (-11% q-o-q) and net revenues at € 6.4m (+2% vs Q2 2020) - This morning, Netgem reported its Q3 sales and net revenues (excluding hardware) which were below our forecasts. Quarterly sales came in at € 6.6m (vs ODDO BHF € 7.8m) with reported growth of 16% y-o-y, while net revenues doubled to € 6.4m vs Q3 2019. Note that the quarter benefited from the consolidation of Vitis (since the start of 2020) and the integration of Comcable (acquired in July)...Netgem is a provider of Internet services through television. Co.'s solution enables businesses and communities to build one-to-one Web-based relationships with their customers and members by providing access to online services. Co.'s technology operates on a Linux-based open software platform and a thin-client access device. Co.'s Netgem Solution is available for standard telephone connection at 56kbs, ISDN lines, Ethernet connection (ADSL modems) and broadband cable (DOCSIS standard) Co. offers the Netbox, which transforms every television set into an Internet-enriched television using only a standard telephone connection.
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