Pace's (LSE: PIC.L) transition from being another set-top box maker--albeit one that is increasingly competitive with Cisco (Nasdaq: CSCO) and Motorola, now Arris (Nasdaq: ARRS) in U.S. markets--into a full-service pay TV provider is expected to pay off in first half of the year with a revenue boost.
Leighton (Image source: Pace)
The London-based technology developer "has made an encouraging start to the new financial year with strong revenue growth in the period in line with our expectations," Chairman Allan Leighton said in a story reported by financial news and information service Sharecast. "We expect revenue for the first half of 2013 will be ahead of the first half of 2012, driven largely by continuing demand for media server products in North America."
Of course, topping 2012 isn't all that hard, since Pace's entire business was "impacted by hard disk drive supply disruption" during the period, Leighton added.
Nevertheless, he said, first half "profitability is in line with our expectations and the robust cash flow generation has continued."
Pace won several important new pieces of business during the first half of the year. It will provide media service products to Liberty Global's (Nasdaq: LBTYA) operations in Europe and a high definition zapper and PVR device to Telefonica's IPTV operations in Latin America.
- Sharecast has this story
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