Member Article

Saltaire-based broadband services firm Pace aims to hit to $2.7 billion mark

Saltaire-based Pace, the broadband and satellite software and services provider, says revenues for 2014 are expected to be around $2.7 billion (2013: $2.47 billion).

They project that strong cash flow will continue, and Pace expects to generate in excess of $185 million of free cash flow (2013: $209 million).

Allan Leighton, chairman, will say at the Pace AGM: “I am pleased to report that Pace has made a good start to the new financial year. Forecast demand for both current and new products is building as the year progresses, giving the Board confidence that the company is on track to achieve the guidance of c. $2.7bn revenue for the year.

“In line with our expectations, revenue in the period was lower than the same period in 2013 reflecting the impact of dual-sourcing of Media Servers and Gateways.

“Gross margins in the period are well ahead of Q1 2013 due to the positive impact of improved revenue mix, procurement benefits and Aurora.

“Operating costs, excluding Aurora, continue to trend down reflecting on-going improvements in operating efficiency.”

This was posted in Bdaily's Members' News section by Clare Burnett .