Pace plc: Preliminary Results for the year ended 31 December 2012Tuesday, March 5th, 2013
SALTAIRE, UK — Pace plc (LSE: PIC), a leading global developer of technologies and products for Pay TV and broadband service providers, today announces its results for the year ended 31 December 2012.
STB and Media Server revenues were up 2.9% to $1,826.0m in 2012, driven largely by the high demand for Media Servers in H2 for both DIRECTV’s Genie™ Advanced Whole-Home HD DVR and the XG1 for Comcast’s new X1 service. We expect this technology trend to continue into 2013, and we recently announced the approval for production of DIRECTV’s next generation HR44 Genie™ Media Server and C41 mini Genie™ client device.
The move to Media Servers and whole home solutions is starting to move beyond North America and Pace has achieved a number of key wins in Europe, Asia-Pacific and Latin America that will be deployed in 2013 and 2014 including Foxtel, Telenet and Get TV in Norway.
Building on our global partnership with TiVo that was announced in H1 2012, Pace has been undertaking field trials with an integrated solution consisting of TiVo software and Pace STBs and Gateways and is actively pursuing significant worldwide opportunities during 2013.
Gateway revenues were up 8.3% to $469.4m in 2012. Key wins in the year included MTS, the fourth largest Telco in Canada.