15th Mar 2006 14:25
Pace Micro Technology PLC15 March 2006 Pace Micro Technology PLC - Market Update 15 March 2006 The Board of Pace Micro Technology plc is providing the following updateregarding its prospects for the financial year ending 3 June 2006. As previously announced at Pace's Interim results on 17 January 2006, theresults for the second half of the current financial year ending 3 June 2006 aredependent on making significant shipments of new products into the US during theperiod. Although the products are nearing completion, it is likely that ourgaining certain customer approvals will be later than previously expected as wework to resolve and test some remaining issues. As a result, some shipments willbe delayed into the next financial year. Therefore, we are revising our guidance for the full year outcome as follows.Existing market expectations for full year revenues of between £260m and £270mare now expected to be in a range of £225m to £240m. Existing marketexpectations for a full year loss before tax and exceptional items of between£1m and £3m are now expected to be a loss in a range of £7m to £9m. This situation represents a short term delay as the US products are now verywell advanced and the development risks are diminishing. Although the expectedapproval schedule for certain of these products is now outside the originallyagreed terms, our expectations for the overall volume of shipments have notchanged. As noted on 17 January 2006, the outlook for the next financial yearremains very positive due to our growing customer base, increasing demand fornew technologies and from shipments into the US that are expected to be flowingstrongly by then. -ends- Media Contacts: Ginny Pulbrook, Citigate Dewe Rogerson, 020 7638 9571Helen Kettleborough, Pace Micro Technology plc, 01274 538005 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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