4th Jun 2007 07:02
Pace Micro Technology PLC04 June 2007 Pace Micro Technology plc Period end trading update and notice of results Pace Micro Technology plc, the leading independent developer of digital TVtechnologies for the global payTV industry, is providing a period end update forthe year ending 2nd June 2007. The Company will release its Preliminary resultson Tuesday 24th July. The foundations put in place over the last year by the new Pace management team,including enhanced customer focus, company structure, operating model andproduct execution, have delivered improved results in the second half of thefinancial year. Consequently, overall performance for the year ending 2nd June2007 is expected to be slightly ahead of current market expectations. Pace is benefiting from better than expected performance in the US market wherein the case of some of its customers it has executed better than thecompetition, as well as ongoing strong performance in the Group's other worldmarkets. Common to all Pace markets, most importantly the US, is growingconsumer demand for high definition (HD) products, in particular HD personalvideo recorders (PVR), following rapid growth in sales of HD-ready flat paneltelevisions and expanding HD content. Pace has taken advantage of this growing market by building long-termrelationships with the world's leading pay TV operators, as well as being firstto market in new technologies such as MPEG-4 compression, which is enablingoperators to drive ahead with their HD launches. With a further eight millionMPEG-4 HD set-bop boxes expected to be installed in Europe alone by 2010, Paceis well placed to benefit from its early investment in this and other newtechnology platforms. -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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