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UK-based set-top box manufacturer, Pace Micro, has revised its previously issued guidance for its current financial year, ended June 3rd: whereas it previously forecast revenues of between £260 million and £270 million, it now expects revenues to range between £225 million and £240 million; and whereas it previously forecast losses before tax and exceptional items of between £1 million and £3 million, it now expects losses to range between £7 million and £9 million. The company is blaming the expected reduction in revenues and the corresponding increase in losses on delays in "gaining certain customer approvals" in the US "as we work to resolve and test some remaining issues." (Note: Pace has secured deployment deals in the US with Comcast, Time Warner Cable, Bright House, and DirecTV.) As a result, it says, some shipments will be postponed until the next financial year. Nevertheless, Pace is promising that "this situation represents a short-term delay, as the US products are now very well advanced and the development risks are diminishing," and says that its "expectations for the overall volume of shipments [to the US] have not changed."

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