Losses at the science and technology TV channel came in at £3.4m for the year to December, slightly better than the loss of £3.5m forecast by broker Collins Stewart. Total turnover of £830,000, however, was slightly below the figure forecast when the group launched onto Aim in March last year. The lower sales figure is mostly due to the group's delay in launching its channel in the UK, a project that was only completed in January this year due to delays in the distribution of set-top boxes for digital TV. However, the launch of The Einstein Channel in the UK (via Sky's digital package) brings to eight the number of countries that are now able to sample Einstein's televisual offerings. In late November the group appointed Granada to act as its sales agent in the UK, and in January this year it expanded its operation by buying The Television Education Network. This has since been rebranded as The Einstein Network and is expected to boost total turnover by around £3m this year. A few weeks ago a contract was secured with the Hubbard Broadcasting Group which should see Einstein get its channel on more networks in the US. At 44p, the shares trade at a slight premium to their 40p float price.

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