Pace Set-Top Volume, Revenue Down

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Pace Micro Technology plc said its set-top volumes fell 41 percent to 1.3
million units, contributing to a revenue slide of about 53 percent to $264.9
million, down from $561.3 million in the year-prior period, CED’s Jeff
Baumgartner reported.

Pace, in reporting financial results for the fiscal year ended May 31,
attributed the decline to "challenging markets" among digital-TV providers and
lower average selling prices.

The vendor said U.S. revenues fell from $61.1 million to $15.8 million. Pace
ships digital-cable boxes domestically to Time Warner Cable, Comcast Corp. and
Bright House Networks.

"The United States will continue to incur losses over the next six months or
so, and it offers both upside and risk," Pace said of its outlook.

Overall, the company said, new orders received in May 2003 "give rise to
cautious optimism."

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