19th Oct 2007 07:00
Pace Micro Technology PLC19 October 2007 Pace Micro Technology plc AGM and Interim Management Statement Mike McTighe, Chairman of Pace Micro Technology plc, the leading independentdeveloper of digital TV technologies for the global payTV industry will give thefollowing update at the Company's AGM later today: "I am pleased to say that Pace is on track to meet the Board's recently revisedexpectations for the shortened 2007 financial year. As previously stated thisstrong performance is due to us exceeding margin improvement targets across therange of Pace's set-top box products following management action to improveoperational and business efficiencies, and an exceptional performance from ourUS 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 continuedto develop its business across all of the major world markets for payTV. Inthese markets the momentum towards high definition is increasing and demand forPVR products continues to grow. Pace has announced new business with BSkyB, wonnew business for high definition PVRs and interactive standard definitionproducts with Multichoice of South Africa, and continued to extend the number ofcable customers it serves in the US. "The company-wide restructuring implemented in 2006, the establishment ofCustomer Account Teams as well as wide-ranging business improvements havedelivered greater customer focus, improved product execution and margins.Looking further ahead, the Board continues to be confident that Pace, throughits growing customer base, technology leadership, new products and furtherimprovements in operational performance will meet its expectations for the 2008financial year. " -ends- Note to editors: Pace's shortened financial year commenced 3rd June 2007,following a change to Pace's accounting year-end, where future financialyear-ends will close at the end of the calendar year. Contacts Fiona Laffan/Tim Williamson/Raphael Mazet Helen KettleboroughBrunswick Pace Micro Technology +44 20 7404 5959 +44 1274 538005 About Pace Micro TechnologyPace Micro Technology plc (pic.l) is a leading technology developer for theglobal payTV industry. Pace's main focus is on creating intelligent andinnovative products and services that benefit our customers and fuel thedevelopment of digital TV. Over the last 25 years, Pace has developed one of theworld's most experienced specialist engineering teams and is now the partner ofchoice for leading payTV operators across the globe.Pace's international headquarters are in Saltaire, West Yorkshire, UK, withfurther offices in the USA, France, India and Hong Kong. For more information onPace, please visit www.pacemicro.com. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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