And today, in a statement to the City, Pace said it was now shipping high definition MPEG-4 set-top boxes incorporating digital TV recorders to DirecTV, while Pace's HD digital TV recorder for US cable networks had also received approval "from a number of other operators and shipments have started to some of these". Meanwhile Pace's standard definition digital TV recorder for US cable networks was "in the final stage of field trials with Comcast".
Commenting on the results, McTighe said new Pace CEO Neil Gaydon had initiated "a number of significant organisational changes to resolve former execution issues, improve margin performance, reduce costs and ensure Pace is best placed to grow its business".
He added: "The board acknowledges that there is still much work to do, but believes that the changes made since the start of the new financial year will provide greater accountability within Pace, better customer service, and more predictable engineering delivery."
Lovelace Consulting | 04.09.2006