Search:
 

Pace Micro Technology

Companies: PIC   
05/03/2002

Shares in the FTSE 250-listed digital TV set-top box maker crashed 66% on the day after the company said that its sales for the year to 31 May are going to show 'a significant shortfall on previous expectations', and are now expected to be around £350m, against £520m previously. This is because its insurers are reluctant to put their weight behind sales to cable operators NTL and TeleWest, plus problems with distributing to the US. The company still expects to report a profit in the second half however, to add to its first half £22.2m. Analysts now expect around £23.5m pre-tax for the year as a whole, with roughly 6.9p of earnings per share. As such, the shares might be seen as a possible recovery stock, though of course not without risk. The company says that 2002-3 turnover 'is expected to grow significantly', while commenting that 'the long-term outlook for the industry remains positive'. Speculative.

Market cap: £237.2m
PE Forecast: 15.1
Share price: 104p

Sponsored Listings

Share We present absolutely free financial information and a superior financial search system.

Shares Looking for Shares? Review our comprehensive listings.

Get the Share Deals You Deserve Choose from a variety of the UK's favourite shares specialists. Great deals and all the latest prices.