Pace Posts Significant Profit Increase
[Satellite Today – 1-29-08] Pace Micro Technology, the U.K. based set-top box vendor, has seen a substantial increase in its profits for the seven months that closed at the end of December, the company announced Jan. 29. The company is switching the timing of its reports and for 2007 it is reporting seven month results.
For this seven-month period, the operator had profits before tax of 15.4 million British pounds ($30.5 million). In the seven-month period that closed at the end of September, the company had overall revenues of 249.9 million pounds ($495.3 million).
Pace is a particularly strong performer in the satellite arena, working with DirecTV, BSkyB, Sky Italia and Foxtel among others. The company’s strong recent performance also can be traced to finally cracking the U.S. market, as revenues from operators in North America now accounts for more than 50 percent of the company’s revenues.