4th Jun 2007 15:34
Pace Micro Technology plc, the leading independent developer ofdigital TV technologies for the global payTV industry, is providing aperiod end update for the year ending 2nd June 2007. The Company willrelease its Preliminary results on Tuesday 24th July. £ The foundations put in place over the last year by the new Pacemanagement team, including enhanced customer focus, company structure,operating model and product execution, have delivered improved resultsin the second half of the financial year. Consequently, overallperformance for the year ending 2nd June 2007 is expected to beslightly ahead of current market expectations. £ Pace is benefiting from better than expected performance in the USmarket where in the case of some of its customers it has executedbetter than the competition, as well as ongoing strong performance inthe Group's other world markets. Common to all Pace markets, mostimportantly the US, is growing consumer demand for high definition(HD) products, in particular HD personal video recorders (PVR),following rapid growth in sales of HD-ready flat panel televisions andexpanding HD content. £ Pace has taken advantage of this growing market by buildinglong-term relationships with the world's leading pay TV operators, aswell as being first to market in new technologies such as MPEG-4compression, which is enabling operators to drive ahead with their HDlaunches. With a further eight million MPEG-4 HD set-top boxesexpected to be installed in Europe alone by 2010, Pace is well placedto benefit from its early investment in this and other new technologyplatforms. Copyright Business Wire 2007Related Shares:
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