Pace Micro---Marktführer in Digital-TV - 500 Beiträge pro Seite

[BrauchGeld]

Hi

Die Aktie ist in den letzten wochen stark zurückgekommen eine chance günstig einzusteigen.

Markkap:87 mio€
kurs:0,37€


Pace entwickelt HDTV-Receiver für Abo-Sender Premiere
DS810 nutzt aktuellste TV-Technologien wie MPEG-4 und DVB-S2

Nürnberg/Schnaittach, 27. Januar 2005: Premiere, der führende Abo-Sender in Deutschland und Österreich, setzt zum geplanten Start seiner HDTV-Programme Ende 2005 auf HDTV-Receiver von Pace Micro Technology mit dem aktuellsten MPEG-4-Kompressionsverfahren.


Die neue HDTV-Set Top Box von Pace setzt dabei eindrucksvoll neue Maßstäbe mit ihrem modernen Kompressionsverfahren, das eine hervorragende Bildqualität bietet und einen effizienten Einsatz der verfügbaren Übertragungsbandbreiten sichert.


Premiere plant ab November 2005 drei HDTV-Programme mit Sport, Spielfilmen und Dokumentationen über Satellit zu verbreiten und unterstreicht damit seine Rolle als Pionier des digitalen Fernsehens in Deutschland.


Der DS810 HDTV-Receiver markiert einen weiteren Meilenstein in der bestehenden Zusammenarbeit von Pace und Premiere. Zuletzt vereinbarten beide Unternehmen im November 2004 die Entwicklung des ebenfalls für das Abo - TV geeigneten Personal Digital Rekorders TDS460KP, der ab Mai 2005 auf den Markt kommt.


Bei der Entwicklung des HDTV-Receivers nutzt Pace seine Erfahrungen mit dem hochauflösenden Fernsehen in den USA. Hier zählt der Pace - High Definition Kabel-Receiver DC550 zu den innovativsten Set Top Boxen. Die neue DS810 Set Top Box arbeitet mit dem MPEG-4–Kodierungsverfahren und nutzt den den weiterentwickelten digitalen TV-Standard DVB-S2 mit neuen Technologien wie QPSK und 8PSK. Damit werden über 30 Prozent der benötigen Übertragungsbandbreite eingespart, so dass mit einem digitalen Satellitentransponder mehr TV-Programme übertragen werden können.


"HDTV ist Fernsehen in einer ganz neuen Dimension. Mit dem geplanten Start läutet Premiere ein neues TV-Zeitalter ein, vergleichbar mit dem Wechsel vom Schwarzweiß- zum Farbfernsehen", sagt Dr. Friedrich-Carl Wachs, Vorstand Strategie und Entwicklung bei Premiere. "Mit der Unterstützung erfahrener Technik-Unternehmen wird es uns sicher gelingen, die Einführung des hochauflösenden Fernsehens erfolgreich zu gestalten. Gerade von den Erfahrungen von Pace in den USA können wir bei der Entwicklung neuer HD-Receiver nur profitieren. Ich bin mir sicher, dass das Unternehmen seinen Erfolg in den USA auch in Europa wiederholen kann." „Pace sieht sich durch die Premiere-Entscheidung in seiner Produktentwicklung bestätigt, die eigenen konkurrenzlosen Erfahrungen aus den USA mit den europäischen HDTV-Anforderungen zu verbinden“, begrüßt Neil Gaydon, Verkaufs- und Marketing Direktor für den weltweiten Vertrieb von Pace, die neue Vereinbarung mit Premiere. „HD ist nicht das Fernsehen der Zukunft, es ist bereits Realität. Die Bildqualität ist einzigartig und der Schritt von Standard-TV zu High-Definition TV ist vergleichbar mit dem Wechsel vom Schwarz-Weiß- zum Farbfernsehen. Pace prägte den Standard für HDTV-Receiver in den USA, und wir freuen uns über die Herausforderung, diesen Erfolg auch in Europa zu wiederholen. Die Zusammenarbeit mit Premiere unterstreicht die Leistungsfähigkeit der Pace-Receiver.“


Pace entwickelt HDTV-Receiver für Abo-Sender Premiere


„Die Premiere-Abonnenten nutzen heute schon den Vorsprung der Pace-Technolgie und werden mit der neuen Vereinbarung auch an der neuen Ära im Fernsehen teilhaben,“ betont Heinrich E. Haase, Vertriebsleiter Pace Central Europe und ergänzt: „Insbesondere mit der Fußballweltmeisterschaft 2006 in Deutschland können sich die Premiere-Abonnenten von der HD-Qualität überzeugen. HDTV bedeutet, dass die Zuschauer Fußball in einer Atmosphäre sehen wie es sonst nur im Stadion möglich ist.“ Erstmals in der Fernsehgeschichte wird Premiere alle 64 Fußballweltmeisterschaftsspiele auch im hochauflösenden Fernsehformat HDTV übertragen.


Technische Details:



Kompressionsstandards MPEG 2-MP@HL und MPEG 4-AVC/H.264,

Standard –TV und High Definition TV bis zu 1080i

mit QPSK und 8PSK Modulationen

Verschlüsselung mit Nagra H 6 von Nagravision,

HDMI -Schnittstelle mit Kopierschutz HDCP,

USB 2.0-Anschluss,

die Software beeinhaltet den Pace EPG, Middleware und Linux.

Pace Micro Technology plc.
Pace Micro Technology plc ist ein an der Londoner Börse notierter führender Hersteller von digitaler Fernsehtechnologie. Das Unternehmen entwickelt und produziert weltweit vor allem innovative Set Top Boxen für Fernsehunternehmen, Kabelnetzbetreiber, Telekommunikationsunternehmen und den Handel. Der Hauptsitz von Pace liegt in West Yorkshire, England. Weitere Niederlassungen gibt es in Bracknell, England, sowie in den USA, Frankreich und Hongkong.

[BrauchGeld]

Zahlen von jan.05



Pace Micro Technology PLC
10 January 2005


10th January 2004



Pace Micro Technology plc

Interim Report
for the 27 weeks ended 4 December 2004


SALIENT POINTS

• Shipments increased to 2.1 million set-top boxes (2003: 1.0 million)
• Turnover increased 36% to £150.5m (2003: £110.4m);
• Profit before tax of £3.1m (2003: £0.8m);
• Diluted earnings per share of 3.6p (2003: 0.6p) (adjusted earnings per
share 1.4p: 2003:0.6p);
• Net cash position £11.4m (29 May 2004: £20.4m);
• Business performance significantly improved.



Pace Micro Technology`s Chairman Sir Michael Bett commented:

`Pace`s results for the first half are significantly ahead of last year within
what has been a highly competitive market. A wider geographical spread has been
achieved with non-UK customers representing 61% of our total revenues,
complementing our existing strong UK market position. Markets remain competitive
and the Group continues to address these by rigorous management controls,
adapting new technologies and adjusting product mix.

`We are confident that the Group`s underlying performance and recovery trend
will continue, although, as indicated in our market update issued on 16 December
2004, this recovery may take longer than was initially anticipated.`



Chairman`s Statement

Pace`s results for the twenty seven weeks ending 4 December 2004 show further
recovery in Group performance and the Board is pleased to report that revenues,
volumes and profit were all significantly ahead of last year. Group strategy
continues to be focussed on growing market share while addressing the
competitive challenges of the current market place. We aim to improve net
margins by sustaining a rigorous approach to the management of all business
costs and by seeking additional, more consistent, revenue streams.

Results

Profit before tax improved to £3.1m (26 weeks to 29 November 2003: £0.8m) on
turnover of £150.5m (2003: £110.4m). Basic and diluted earnings per share were
3.6p (2003: 0.6p). After eliminating the impact of a one off taxation credit
taken in the period, the basic and diluted earnings per share were 1.4p (2003:
0.6p).

An interim dividend is not declared (2003:nil), although it is the Board`s
intention to review its dividend policy at the time of the Group`s results for
the full year.

Trading review

During the period the volume of Pace shipments doubled to 2.1 million set-top
boxes, a new record for the Group (2003: 1.0m), as it took advantage of
increased demand for set-top box products from payTV operators. This growth,
which has resulted in a 36% increase in turnover, has been driven, in part, by
an ongoing decline in average selling prices (ASPs). As a result of the lower
pricing and a greater proportion of lower-cost, lower-margin set-top boxes being
shipped, gross margin declined to 16.8% (2003: 19.1%).

We have continued to establish a wider geographic spread for the Group`s
business with sales to non-UK customers making up 61% of our total revenues
(2003: 47%). In the period Pace has shipped products to over 25 customers, with
payTV operators in Continental Europe and Asia Pacific playing an important
role. Sky Italia was a particularly important customer in the period, for which
we began shipments of our second-generation product.

In Germany and Scandinavia more set-top boxes were shipped to some of our most
recent new customers, Premiere and KDG in Germany and Viasat in Scandinavia. At
the same time we announced an important new contract with Premiere for PVR,
which we expect to deliver during 2005. In the UK, a more mature market for
digital TV, BSkyB remains an important customer as its Sky+ service continues to
expand. We also shipped product to our cable customers Ntl and Telewest.

In Australia, we built on our successful relationship with Foxtel, providing its
standard digital set-top box and we are working with them on its first PVR
platform, due in 2005. Outside of Australia, the Asia Pacific market remains
relatively small and highly competitive, but we are actively addressing the
market place.

In the US we have increased our penetration with the cable operators. We are
currently shipping our high definition set-top box, with our high definition PVR
now in the final stages of development. In profit terms, our business is still
not at breakeven but we aim to improve this position in the second half.

We are increasing our use of outsource partners. Pace now has over 75 software
engineers at Tata Elxsi in Bangalore, India and we are developing new
relationships with Far Eastern hardware engineering houses.

Net operating expenses increased by 9.5% to £22.4m (2003: £20.4m), but as a
percentage of revenue fell to 14.9% (2003: 18.5%). Engineering costs increased
to £11.8m (2003: £10.8m). Non-engineering overheads increased to £10.6m (2003:
£9.6m) to support the growth in worldwide activity.

Net assets improved to £57.8m (29 May 2004 as restated: £49.5m). Net current
assets rose to £57.4m (29 May 2004: £54.1m). Within net current assets, debtors
increased to £71.8m (29 May 2004: £64.7m), creditors increased to £43.7m (29 May
2004: £41.4m) and stocks increased to £17.6m (29 May 2004: £10.0m). The debtors
balances included insured balances of £36.2m (29 May 2004: £38.5m). Net cash
balances at the year-end were £11.4m (29 May 2004: £20.4m), mainly due to higher
levels of finished stocks for delivery over the next few months.

Included within the tax charge is a credit of £4.9m relating to the agreement
with the Inland Revenue in the UK of a disputed balance in respect of a prior
year, the cash effect of which was received in the year ended 31 May 2003.

As previously announced, the Company is a party to a reference to the Financial
Services and Markets Tribunal. The Company is unfortunately prohibited under
the Financial Services and Markets Act 2000 from providing any further
information regarding this reference until the matter is resolved.

Future technologies

The demand for more sophisticated set-top box products is growing and Pace is
well positioned to lead in this field, providing innovation with, for example,
our new advanced codec high definition PVR products and our mobile PVR product,
PVR2GO, designed for payTV customers, as well as products for multiroom viewing.

The demand for PVR and high definition set-top boxes is growing and Pace is
exploiting this positive trend on two fronts. Firstly by developing
relationships with existing customers and working with them as they grow their
service offerings to include more profitable PVR and high definition products.
Secondly by applying our technological expertise in new markets through our
knowledge of home networking and our ability to create platforms with the
capability to deliver interactive services over broadband networks. These
provide opportunities in the potential market for the Intelligent Home, where we
can apply Pace`s engineering and product delivery skills to develop additional
business streams and applications that can gain us access to a wider customer
base.

In addition we are active in broadband video, the delivery of digital television
over telephone lines, and have worked on some of the world`s most successful
live deployments. With more large-scale telecommunications companies now
looking at broadband video we have increased our activity in this arena.

Board changes

Two Board members retired during the period. David Hood, one of Pace`s founders
and a non-executive director for the last six years, retired at the Annual
General Meeting on 8 September 2004. Marvin Jones, a non-executive director for
the past four and a half years, retired from the Board at the end of December
2004.

The Board would like to extend their thanks to both David and Marvin for the
important contribution they have made to the development of Pace`s business.
The Nominations Committee of the Board is presently interviewing candidates as
additional non-executive directors.

Outlook

The expected timescale of Pace`s recovery has extended since the update at our
last Annual General Meeting and, as indicated in our market update issued on 16
December 2004, revenues in the second half are expected to be lower than in the
first half. However, we do expect higher margins in the second half.

Pace is a major player in the UK market, where the penetration of digital payTV
is continuing to grow, albeit at a slowing rate as the market matures. In the
longer term, Continental Europe and Asia Pacific represent big opportunities for
growth, as more payTV operators go digital and others progress to higher
specification PVR and high definition TV platforms. However, short-term revenues
are likely to reduce as shipments to both Italy and Germany slow down following
customers` high volume launch phases.

Our expectations for the US market contain certain engineering design revenues,
including a material amount relating to a re-negotiation of existing commitments
with Comcast. Subject to a positive outcome, we expect our revenues and market
share in the US to increase in the second half.

We are pursuing a number of new business opportunities throughout the world, but
it is too early to predict how and when these opportunities will be translated
into business wins. The Board remains confident that Pace is well positioned in
this highly competitive market.


Sir Michael Bett
Chairman
10 January 2005




CONSOLIDATED PROFIT AND LOSS ACCOUNT
FOR THE 27 WEEKS ENDED 4 DECEMBER 2004

Note 27 weeks ended 26 weeks ended 52 weeks ended
4 Dec 2004 29 Nov 2003 29 May 2004
(unaudited) (unaudited) (audited)
£000 £000 £000

Turnover 2 150,547 110,412 239,949

Cost of sales (125,227) (89,314) (194,425)
_____________ _____________ _____________
Gross profit 25,320 21,098 45,524

Net operating expenses:
Before exceptional item (22,368) (20,433) (40,350)
Exceptional item 3 - - (1,500)
_____________ _____________ _____________
Operating profit 2,952 665 3,674

Net interest receivable 119 109 206
_____________ _____________ _____________
Profit on ordinary activities before taxation 3,071 774 3,880

Tax credit on profit on ordinary activities 4 4,896 486 4,186
_____________ _____________ _____________
Retained profit for the financial period 7,967 1,260 8,066
_____________ _____________ _____________

Basic earnings per ordinary share 5 3.6p 0.6p 3.7p

Diluted earnings per ordinary share 5 3.6p 0.6p 3.6p

Adjusted basic earnings per ordinary share 5 1.4p 0.6p 3.7p

Adjusted diluted earnings per ordinary share 5 1.4p 0.6p 3.6p



The results from the current period derive from continuing operations.





CONSOLIDATED BALANCE SHEET
AT 4 DECEMBER 2004

4 Dec 2004 29 Nov 2003 29 May 2004
Note (unaudited) (unaudited) (audited)
As restated As restated
(note 8) (note 8)
£000 £000 £000
Fixed assets
Intangible 9,155 9,661 9,436
Tangible 6,618 8,747 7,010
Investments 200 - -
____________ ____________ ____________
15,973 18,408 16,446
____________ ____________ ____________
Current assets
Stocks 17,611 14,325 10,006
Debtors 6 71,826 56,153 64,724
- due within one year 67,868 50,997 60,912
- due after more than one year 3,958 5,156 3,812
Cash at bank and in hand 11,688 14,154 20,705
____________ ____________ ____________
101,125 84,632 95,435

Creditors: amounts falling due within one year (43,720) (34,109) (41,378)
____________ ____________ ____________
Net current assets 57,405 50,523 54,057
____________ ____________ ____________
Total assets less current liabilities 73,378 68,931 70,503

Creditors: amounts falling due after more than
one year (242) (257) (246)

Provisions for liabilities and charges 7 (15,362) (26,029) (20,748)
____________ ____________ ____________
Net assets 57,774 42,645 49,509
____________ ____________ ____________

Capital and reserves
Called up equity share capital 11,347 11,316 11,339
Share premium account 35,671 35,434 35,647
Profit and loss account 10,756 (4,105) 2,523
____________ ____________ ____________
Total shareholders` funds 57,774 42,645 49,509
____________ ____________ ____________





CONSOLIDATED CASH FLOW STATEMENT
FOR THE 27 WEEKS ENDED 4 DECEMBER 2004
27 weeks ended 26 weeks ended 52 weeks ended
4 Dec 2004 29 Nov 2003 29 May 2004
(unaudited) (unaudited) (audited)
Note £000 £000 £000

Net cash (outflow)/inflow from operating
activities 9 (7,015) 6,470 14,165

Returns on investments and servicing of finance 52 101 136
Taxation (69) 758 391
Capital expenditure and financial investment (1,817) (1,477) (2,665)
Acquisitions and disposals (200) (5,093) (4,936)
____________ ____________ ____________
Cash (outflow)/inflow before financing (9,049) 759 7,091
Financing 32 (15) 204
____________ ____________ ____________
(Decrease)/increase in cash in the period (9,017) 744 7,295
____________ ____________ ____________


Reconciliation of net cash flow to movement in net funds
(Decrease)/increase in cash in the period (9,017) 744 7,295
Cash flow from decrease in debt 5 26 34
____________ ____________ ____________
Movement in net funds in the period (9,012) 770 7,329
Net funds at start of period 20,406 13,077 13,077
____________ ____________ ____________
Net funds at end of period 11,394 13,847 20,406
____________ ____________ ____________





ANALYSIS OF CHANGES IN NET FUNDS
At 29 May 2004 Cashflow At 4 Dec 2004
£000 £000 £000

Cash at bank and in hand 20,705 (9,017) 11,688
Debt due within one year (53) 1 (52)
Debt due after one year (246) 4 (242)
____________ ____________ ____________
20,406 (9,012) 11,394
____________ ____________ ____________



NOTES

1 Basis of preparation

The interim financial information for the 27-week period ended 4 December 2004 has not been audited,
nor has the interim financial information for the 26-week period ended 29 November 2003. They comply
with relevant accounting standards and have been prepared on a consistent basis using the accounting
policies set out in the 2004 Annual Report and Accounts (as referred to in note 8, an adjustment has
been made to comply with UITF Abstract No 38 `Accounting For ESOP Trusts` which has been adopted in
the current period). The figures for the 52-week period ended 29 May 2004 do not constitute the
Group`s statutory accounts for that period but have been extracted from the statutory accounts, which
have been filed with the Registrar of Companies and then restated to reflect the adoption of the
provisions of UITF Abstract No 38 `Accounting For ESOP Trusts`. The auditors have reported on those
accounts and that report was unqualified and did not contain a statement under Section 237(2) or (3)
of the Companies Act 1985. The accounts for the full year will be for the 53-week period ending 4
June 2005.

Financial Position and Market Conditions

The performance of the Group has continued to improve in this period. Unit volumes and turnover have
increased and the geographical diversity continues to widen. However, pressure on selling prices
continues and the net profit margin remains low.

The risks in the digital broadcasting industry involve the application of new and evolving
technologies and the nature of Pace`s activities, which are characterised by large individual sales
orders to a limited range of customers, are unchanged. Some customers are incurring losses as they
implement their business plans and others continue to review the timing and nature of their plans.

These factors, particularly in the context of the level of net profitability, increase the
sensitivity of the judgements required to prepare the financial statements. However, a consistent
approach has been applied using all available information.

The Group ended the year with net cash balances of £11.4m and has uncommitted banking facilities in
an amount of £20m, which are available until 30 September 2005.

The Board has built the above circumstances into their working capital forecasts and has modelled
various business scenarios. Based on these, the Board has concluded it is appropriate to confirm the
going concern basis of preparation for the financial information.

2 Turnover
27 weeks ended 26 weeks ended 52 weeks ended
4 Dec 2004 29 Nov 2003 29 May 2004
(unaudited) (unaudited) (audited)
£000 £000 £000
The geographical analysis of turnover by
destination is as follows:
United Kingdom 58,043 58,191 138,275
Continental Europe 71,118 41,915 56,812
Asia Pacific 11,760 1,241 19,986
North America 9,245 6,925 22,252
Rest of the World 381 2,140 2,624
____________ ____________ ____________
150,547 110,412 239,949
____________ ____________ ____________


3 Exceptional items
27 weeks ended 26 weeks ended 52 weeks ended
4 Dec 2004 29 Nov 2003 29 May 2004
(unaudited) (unaudited) (audited)
£000 £000 £000
Cost regarding reference to Financial Services
and Markets Tribunal
- - 1,500
____________ ____________ ____________
- - 1,500
____________ ____________ ____________


The Company is party to a reference to the Financial Services and Markets Tribunal and the
exceptional charge made in the year ended 29 May 2004 reflects the estimated costs, including legal
fees associated with this matter. Discussions continue with insurers in respect of potential
recoveries of legal costs.


4 Tax credit on profit on ordinary activities

27 weeks ended 26 weeks ended 52 weeks ended
4 Dec 2004 29 Nov 2003 29 May 2004
(unaudited) (unaudited) (audited)
£000 £000 £000
The tax credit is based on the estimated
effective rate of taxation on trading for the
period and represents:

United Kingdom corporation tax at 30% - 909 8,214
Overseas tax (110) (39) 44
Adjustment in respect of a prior year (see
below)
4,860 - -
Deferred tax (see note 6) 146 (384) (4,072)
____________ ____________ ____________
4,896 486 4,186
____________ ____________ ____________


Following the agreement of an outstanding Corporation Tax matter with the Inland Revenue in the UK,
a one-off tax credit has been taken in respect of a prior year.


5 Earnings per ordinary share

Basic earnings per ordinary share have been calculated by reference to the profit after taxation,
and the average number of qualifying ordinary shares of 5p in issue of 219,057,810 (2003:
218,251,847).

Adjusted earnings per share calculations reflect the profit after taxation excluding the impact of
the one-off tax credit referred to in note 4.

Diluted earnings per ordinary share vary from basic earnings per ordinary share due to the effect
of the notional exercise of outstanding share options. The diluted earnings are the same as basic
earnings. The diluted number of qualifying ordinary shares was 224,548,028 (2003: 223,912,904).


6 Debtors

Debtors include a deferred tax asset of £3,958,000 (2003: £7,500,000), all of which is due after
more than one year (2003: £5,156,000).


7 Provisions for liabilities and charges

Royalties
under Corporation
negotiation Onerous Tax
(see below) contracts Warranties (note 4) Total
£000 £000 £000 £000 £000

At 29 May 2004 7,864 1,828 5,696 5,360 20,748
Charge/(credit) for the
period
597 - 3,081 (5,360) (1,682)
Utilised (66) (378) (3,260) - (3,704)
____________ ____________ ____________ ____________ ____________
At 4 December 2004 8,395 1,450 5,517 - 15,362
____________ ____________ ____________ ____________ ____________



The owners of patents covering technology allegedly used by the Group have
indicated claims for royalties relating to the Group`s use (including past
usage) of that technology. Whilst negotiations over these liabilities continue,
they are not concluded. The directors have made provision for the potential
royalties payable based on the latest information available. Having taken legal
advice, the Board considers that there are defences available that should
mitigate the amounts being sought. The Group will vigorously negotiate or
defend all claims but, in the absence of agreement, the amounts provided may
prove to be different from the amounts at which the potential liabilities are
finally settled.


8 Prior year adjustment

At 4 December 2004 the Pace Micro Technology Employee Benefits Trust and QUEST held shares in the
Company which cost £21,434,000 (2003: £21,530,000). These shares are held to satisfy options granted
to employees.

In line with the requirements of UITF Abstract No 38 `Accounting For ESOP Trusts`, such amounts have
been reclassified to show the Company`s purchases of own shares as deductions from the Profit and Loss
Account reserve in arriving at Shareholders` Funds. The previous treatment was to classify such
amounts, net of impairment provisions, as assets in Fixed Asset Investments. The comparative figures
in the financial information have been restated to reflect this change with a resulting impact on the
balance sheets as follows.

29 Nov 2003 29 May 2004
£000 £000
Decrease in Investments and Net
Assets (2,515) (2,436)
____________ ____________

Net decrease in Profit and Loss
Account and Shareholders` Funds (2,515) (2,436)
____________ ____________

There is no impact on the Profit and Loss Account for the year ended 29 May 2004 or the 26-week period
to 29 November 2003 resulting from the above restatement.


9 Net cash (outflow)/inflow from operating activities

27 weeks ended 26 weeks ended 52 weeks ended
4 Dec 2004 29 Nov 2003 29 May 2004
(unaudited) (unaudited) (audited)
£000 £000 £000

Operating profit 2,952 665 3,674
Goodwill amortisation 281 282 564
Depreciation 2,198 2,681 5,317
Loss on sale of tangible fixed assets - 178 317
(Increase)/decrease in stocks (7,605) 1,642 5,961
(Increase)/decrease in debtors (6,890) 796 (11,540)
Increase/(decrease) in creditors 2,075 528 10,728
Decrease in provisions for liabilities and
charges (26) (302) (856)
____________ ____________ ____________
Net cash (outflow)/ inflow from operating
activities (7,015) 6,470 14,165
____________ ____________ ____________

[BrauchGeld]

Hsbc und Barclays Plc sind auch auf der käuferseite .

http://moneyextra.uk-wire.com/cgi-bin/articles/2004122012495…

http://moneyextra.uk-wire.com/cgi-bin/articles/2004112411555…

[BrauchGeld]

Sorry die Marktkap. beträgt 106 mio€
das oben sollte 86 pfund heissen.


http://www.pacemicro.com/corporate/home/main.asp

[u.ri]

dann erkläre uns mal warum man da jetzt einsteigen sollte?
charttechnisch hat der abwärtstend wohl noch keinen richtigen boden gefunden!
oder?

[BrauchGeld]

war doch eine gute entscheidung bei 33p einzusteigen der aktuelle kurs liegt bei 38,25p.


Pace Launches New Low Cost Range for Asia Pacific
Monday March 21, 6:40 am ET
New Cost Effective Route to Market for Cable, Satellite and Terrestrial Broadcasters


BEIJING--(BUSINESS WIRE)--March 21, 2005-- Pace Micro Technology (LSE:PIC - News), the world`s largest dedicated developer of digital set-top boxes, has today revealed its low-cost set-top box solution, tailor made for Asia Pacific broadcasters - the Dx235.
ADVERTISEMENT


The Dx235 is a highly flexible platform, available on cable (DC235), satellite (DS235) and terrestrial (DT235) variants. Each is based on Pace`s common hardware design, onto which separate cable and satellite front-ends, operator specific software and applications can be added. This concept is ideal for digital TV broadcasters and operators who are seeking a cost-effective, yet proven and rapid route to market.

Utilising MPEG-2 decoding technology, the Dx235 range builds on Pace`s significant experience in digital TV to enable operators to offer superb audio and visual quality in an easy-to-use format. The Dx235 can be `self-installed` by the end-consumer in minutes. Once plugged in to the TV, this clever set-top box automatically scans for all available channels, making it ready for use immediately. This is especially helpful for new operators entering the market as it removes providing a home installation service can be yet another costly barrier to launching an IPTV offering.

Despite being low-cost, the Dx235 boasts a range of features to meet most consumers` needs, including a multi-lingual electronic programme guide (EPG) and RCA phono outputs to enable hi-fi system and AV amplifier connectivity, for easy integration into a home audio or theatre system.

Operators will also benefit from Pace`s wide ranging relationships with all of the world`s major conditional access (CA) providers, including Conax, Irdeto, Mediaguard, NDS, Nagravision and Viaccess.

Sandy Barblett, Asia Pacific Regional Director for Pace Micro Technology comments: "At Pace we are expanding our Asia Pacific product range, putting Pace expertise into a new generation of low-cost set-top boxes. Operators and broadcasters will get the best of both worlds: Pace`s comprehensive digital expertise at a price that makes launching digital more attractive than it has ever been before.

"Operators today want to come to market with a set-top box that delivers the services their customers want at a price that encourages rapid take-up. Once those customers are on board, Pace`s global expertise comes into play again as we can work on higher specification platforms such as personal video recorders (PVR) to extend their services and grow operators` revenue."

Technical information

All of the set-top boxes in the Dx235 range come with enhanced MPEG-2 decoders and multichannel burst direct memory access (DMA) engines for enhanced real-time stream transfers and true colour RGB16 graphics capability.

The DC235 and DT235 both offer a 166Mhz CPU that delivers in excess of 110MIPS.

Each offers TDT clock updates over the network, automatic or manual channel scans, automatic Bouquet updates, fast (NIT) and exhaustive scans, comprehensive banner information - including present/following data, embedded 7-day EPG, PIN based channel locks and multi-lingual GUI.

As well as the above features, the DS235 model also offers parental locks and a multifunction timer. The DS235 runs with a 180Mhz CPU that delivers in excess of 100MIPS.

Photography

Hi-resolution photographs can be downloaded from the News Room on the Pace Micro Technology website. Click on this link www.pacemicro.com, select newsroom from top banner and select press images from the side menu. Select the products category from the menu and click on the relevant image to download a hi-resolution image. Alternatively click on email [e-mail]

[BrauchGeld]

Hi

Deal mit Comcast aktie über 60% im plus

UPDATE 1-UK`s Pace Micro signs Comcast deal, shares surge
Fri May 27, 2005 10:07 AM ET

(Adds detail, updates share price)
LONDON, May 27 (Reuters) - British TV set-top maker Pace Micro Technology (PIC.L: Quote, Profile, Research) said on Friday it had signed a new agreement to supply U.S. cable operator Comcast Corp (CMCSA.O: Quote, Profile, Research) , sending Pace Micro shares surging higher.

The company said Comcast had made a commitment for a variety of Pace Micro set-top boxes with a total price over a three-year period of between about $375 million and $550 million expected to be paid.

Shares in Pace Micro rose as much as 47 percent to 53 pence by 1400 GMT -- the stock`s highest price since mid-December. At that price, Pace Micro has a stock market value of around 120 million pounds ($219 million).

Pace Micro said it expected to receive its first payment from the Comcast agreement towards the end of the calendar year 2005.

"Overall, today`s announcement provides a solid foundation for the company`s future U.S. business, both with Comcast and other U.S. cable companies, and helps underpin Pace`s existing expectations for the coming financial year," Chief Executive John Dyson said in a statement.