A fast Pace thanks to contract wins

The Saltaire-based company said revenue over the past four months was lower than last year, as expected, reflecting the decision by a large North American customer to source media servers from two suppliers.

Mike Pulli, Pace’s CEO, said: “Wins with tier one customers reinforce our leadership position in PayTV hardware and our strategy of widening out our products and services continues to build momentum.

“We are confident about our trajectory and remain firmly focused on closing out the year and then making further progress in 2014.”

Analyst Lee Simpson, at Jefferies, said: “The statement shows signs that Pace is continuing to make good progress with operational improvements alongside a raft of design wins that helps to diversify the customer base at the high end.”