In an interim management statement for July 1, 2012 to November 13, 2012 the Saltaire-based company said the pay-TV market continued to show resilience despite the twin threats of new OTT (over-the-top) entrants and uncertain economic conditions. However, revenues for 2012 are expected to remain flat.
“Our widening out strategy continues to build momentum with wins and deployments across the globe. As a result we have further invested in these growth areas,” said Pace CEO Mike Pulli. “We are confident about our trajectory and remain firmly focused on execution in the remainder of the year and beyond.”
Pace has now completed its recovery from the hard disk supply issues that contributed to the departure of former CEO Neil Gaydon. No further economic impact is expected. Its manufacturing facilities in India have now been consolidated from four into one site.
Media Server products including the XG1 for Comcast’s new X1 service and DirecTV’s Genie Advanced Whole-Home HD DVR have both been adopted. Field trials are now ready to launch for an integrated solution porting TiVo’s software to Pace’s set-top boxes and gateways.