Pace predicts strong 2013 after European gains

Set-top provider Pace said it expects its full-year results for 2013 to be ahead of the board’s previous guidance, after making good progress in “previously under-penetrated markets such as cable in Europe and IPTV.”

In an unaudited trading update, Pace said that it expects revenues to be up 2.4% at US$2.46 billion (€1.81 billion) and adjusted EBITA to be “at least” US$190m – up 20% year-on-year.

Pace said that in 2013 it had made a number of key wins and had put a strong focus on product and customer project delivery for major launches and deployments in 2014.

It also said that its acquisition of Aurora Networks, which closed on 6 January 2014, enhances Pace’s strategy “to widen out and build a broader platform from which to drive revenue.”

“Pace has performed above expectations in 2013. We continue to lead the market in innovation with great products and services, demand from our customers has remained strong and we continue to win new business,” said Pace CEO Mike Pulli. “We are confident about our trajectory and are focused on making further progress in 2014.”