Pace Micro reported its revenue doubled in the fourth quarter (ended Dec. 2) to approximately $350 million. If not for taxes and restructuring costs, the company would have recorded a profit, but it was enough for Pace Micro Chairman Mike McTighe to declare the company has “turned the corner.”
Also boding well for Pace, it’s making good on its goal of ensconcing itself in the North American market – the world’s largest. North America contributed more than 50 percent of revenue.
Shipments were up more than 60 percent from last year to 1.8 million set-top boxes. Demand was being driven by HD and PVR. Comcast is using Pace’s SD PVR. DirecTV has ordered Pace’s MPEG-4 HD PVRs. Rogers and Videotron are also customers.
Pace said it is working to have set-tops that are CableCARD-compliant in advance of the switchover deadline in July.
Pace said it remains on track to meet its expectations for the 2006/07 financial year.