Mirada warns on revenue as it begins Mexico launch

7th Apr 2016 15:17

(ShareCast News) - Digital television software developer Mirada issued a warning on revenue on Thursday, as it began a soft commercial launch of its Iris multiscreen solution to its Tier-1 operator in Mexico, Televisa.The AIM-traded company said the launch corresponded with the major contract with Televisa first announced on 19 May 2014.During the soft commercial roll out, Cablevisión's new pay television platform - including the full Iris product suite - was being deployed among a limited number of commercial users across four Televisa networks in order to confirm the smooth functioning of the customer's internal and external logistics and user support channels.The launch was the final stage prior to the full commercial rollout of Iris across the subscriber base over the four networks.Mirada warned that, despite the commercial launch commencing as scheduled, certain revenues due to be recognised in the year to 31 March had been deferred to the next financial year, and although the first network rollout was performing ahead of expectations, total revenues for the year would be significantly below market expectations.They would still be ahead of the previous financial year, Mirada's board confirmed."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," said Mirada CEO Jose Luis Vazquez.!This reaffirms our position within the Latin American market and demonstrates our ability to successfully integrate Mirada's products with Tier-1 customers."Shares in Mirada clawed back from some of their losses in afternoon trading, and at 1400 BST were down 2.71% at 4.5p.