U.S Performance Boosts Pace Results
Pace Micro Technology saw a return to profitability thanks to a strong full year’s results, with overall revenues more than doubling for the 12 months ending June 2, the company reported July 24.
The set-top box vendor achieved revenues of 386.5 million British pounds ($795.3 million) for the year, up from revenues of 178.1 million pounds ($366.5 million), in the previous year. The company, which works with a number of satellite pay-TV operators, reported profits before tax of 6.1 million pounds ($12.6 million). In 2006, the company had reported a loss of 15.6 million pounds ($32.0 million).
Pace shipped 3.9 million set-top boxes in its 2007 business year, an increase of nearly 80 percent compared to the previous year.
The company has been boosted by a particularly strong performance in the U.S. market, as Pace now derives about 50 percent of its revenues from the United States, where the company works with DirecTV and Comcast.