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Monday, 15 April, 2002, 23:14 GMT 00:14 UK
Pace warns on profits
The television set-top box maker Pace Micro Technology has warned investors that it may go into the red during the six months to 1 June.

The announcement reverses an earlier forecast of a profit and comes just five weeks after the firm issued its third sales warning in six months.

Pace blames its difficulties on the current troubles facing digital television operators.

It has stopped shipments to cash-strapped NTL after failing to get credit insurance, and also supplied ITV digital which has been put into administration.

Pace make boxes which can convert cable, satellite and terrestrial digital signals for analogue televisions.

The company also said it would look to cut costs, with job losses a possibility.

The company's shares dropped 21% to close at 79p.

See also:

08 Jan 02 | Business
Pace cuts revenue forecast
09 Jul 01 | Business
Pace defies technology downturn
08 Jul 01 | Business
Cable giants join to boost broadband
30 Apr 01 | Business
AOL seeks UK cable alliance
08 Mar 01 | Business
NTL sticks with 2001 targets
10 Jul 00 | Business
Net TV 'to overtake PC'
18 Nov 99 | Business
Pace enters US cable heartland
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