Pace Micro on track
October 22, 2007
Mike McTighe, Chairman of Pace Micro Technology said “I am pleased to say that Pace is on track to meet the Board's recently revised expectations for the shortened 2007 financial year. As previously stated this strong performance is due to us exceeding margin improvement targets across the range of Pace's set-top box products following management action to improve operational and business efficiencies, and an exceptional performance from our US business for this period.”
“While the current exceptional sales performance in the US, as previously noted, is anticipated to adjust to more sustainable levels in 2008, Pace has continued to develop its business across all of the major world markets for payTV. In these markets the momentum towards high definition is increasing and demand for PVR products continues to grow. Pace has announced new business with BSkyB, won new business for high definition PVRs and interactive standard definition products with Multichoice of South Africa, and continued to extend the number of cable customers it serves in the US.”
“The Board continues to be confident that Pace, will meet its expectations for the 2008 financial year.”