Pace on track following a strong performance
TV SET-top box maker Pace reported today that the firm is on target to meet management expectations for its year end.
Neil Gaydon, the Saltaire-based firm’s chief executive, said 2009 was a record year for Pace with “excellent growth” in shipments, revenue and profitability.
“We also continued our careful management of the balance sheet closing the year with a positive net cash balance of more than £70m,” he said.
In November, Pace said that as anticipated average selling prices were increasing in the second half to due a greater proportion of high definition (HD) product sales.
The last quarter saw the group announce a series of HD contract wins with operators such as UPB Broadband, Europe’s largest cable TV company, Scandinavian satellite operator Viasat and Brazil’s NET Servicos.
An increasing number of operators ordering HD PVRs are moving to hybrid platforms that combine broadcast and broadband delivery where Pace has established early market leadership.
Pace also signed its first customer for its new MultiDweller technology and a series of clients for its first ‘whole home’ solution for US cable operators.
Pace will announce its preliminary financial results for the twelve months ended December 31, 2009 in March.
