Pace Report Revenues up 2.7% in 2013
Saltaire, UK, March 4, 2014--UK-based Set-top box manufacturer Pace reported a 2.7% increase in revenues to US$ 2,469.2 m from 2012: US $2,403.4m in 2012. Adjusted EBITA was up 22.5% to US$ 193.6 m from US$ 158.1m in 2012.
Pace said it expected revenue of about US$ 2.70 billion this year, with an operating margin of around 8.5 per cent.
Pace CEO Mike Pulli said the firm had a “sustainable high level of cash generation,” made good strategic progress and said there is “significant opportunity for further improvement.”
He added that Pace is on-course to complete its integration of Aurora Networks by the end of Q2 2014 and deliver the expected synergy benefits. It agreed to buy optical networking for access networks leader Aurora Networks for US$310 million (€226 million) in October.
“I am excited about the acquisition of Aurora Networks, which will enable Pace to widen out into network infrastructure and build deeper, more embedded relationships with our customers,” said Pulli.
Related Articles:
