Pace expects 2012 results to beat expectations on media server demand
(Reuters) - British TV decoder maker Pace Plc said it expected results for 2012 to beat its expectations, helped by higher demand for its next-generation media server products in North America.
Pace, which supplies set-top boxes to broadcasters, said revenue for the year ended December 31 was expected to be about $2.4 billion, a 4 percent rise from last year.
Media servers connect TV and internet broadband content with any screen at customers' homes, including smartphones, laptops, set-top boxes and tablets.
Yorkshire, Northern England-based Pace expects underlying operating margin to increase about 7 percent and said it anticipated adjusted core earnings to be at least $157 million, up 11 percent compared with the previous year.
Pace's shares were up 6 percent at 204 pence at 0803 GMT on the London Stock exchange. The stock has more than doubled in value in the past year.
(Reporting By Shilpa Hinduja in Bangalore; Editing by Maju Samuel)