Brilliant Digital Entertainment Posts 53 Percent Increase in Net Revenues for First Nine Months Over Same Period Last Year.Business Editors LOS LOS Length of stay, see there ANGELES--(BUSINESS WIRE)--Nov. 14, 2000 36 Percent Increase in Net Revenues For Q3 Over Same Period Last Year Brilliant(R) Digital Entertainment Inc. (AMEX AMEX See: American Stock Exchange :BDE See Borland Database Engine. ), a leading developer of real time animated 3-D Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the content and technology and the owner of The Auction Channel, a provider of Internet- and television-based auctions, reviewed its recent progress and announced results for the nine months ended Sept. 30, 2000. Net revenues for the nine month period increased 53 percent over the same period in 1999, while net revenues for the quarter increased 36 percent over Q3 1999. Net revenues for the nine months ended Sept. 30, 2000, increased to $967,000 from $633,000 for the prior year period. Reflecting ongoing investment in R&D, content development, increased expenditure in sales and marketing, further refinement of the b3d tools technology, and the cost of developing The Auction Channel acquired in July July: see month. 1999, for the nine months ended Sept. 30, 2000, Brilliant Digital reported a net loss of $13,140,000, or $0.90 loss per share, compared with a net loss of $6,947,000, or $0.64 loss per share, for the same period in 1999. Net revenues for the quarter ended Sept. 30, 2000, rose to $407,000 from $299,000 in the 1999 third quarter. Brilliant Digital reported a net loss of $4,471,000, or $0.29 loss per share, for the third quarter ended Sept. 30, 2000, compared with a net loss of $2,834,000, or $0.23 loss per share for the 1999 third quarter. A recap re·cap 1 tr.v. re·capped, re·cap·ping, re·caps 1. To replace a cap or caplike covering on: recapped the bottle. 2. of certain business developments that have taken place since the second quarter includes: -- Establishment of the Brilliant Music division and Brilliant Animated Music (BAM) Video format: To capture a portion of what is currently a $327 million online music industry that is projected to grow to a $5 billion industry by 2005, Brilliant signed a production agreement with Dreamworks Records to produce the first animated music video for Web distribution. Brilliant also signed an agreement with Island Def Jam Music Group through its Digital HipHop joint venture to produce three BAM videos, featuring Ja Rule, DMX and Jay-Z. The company is negotiating agreements with other labels and intends to make Internet music videos a core focus of its content activities. -- Entered New Joint Venture Agreement With Russell Simmons and Stan Lathan For Digital HipHop: With the reported sale of 360HIPHOP to BET Holdings, Brilliant entered a revised joint venture agreement directly with Hip-Hop impresario Russell Simmons and veteran Producer/Director, Stan Lathan, for the co-financed production studio, Digital HipHop. 360HIPHOP will pay a license fee for a limited exclusive engagement of Digital Hip Hop content on its site. -- Officially Launched b3d Tools Technology in Beta Version to Developer Community: In July 2000, Brilliant launched the beta version of its tools to the Internet developer community. Since the introduction, approximately 500 downloads of the tools have been logged. Macintosh, Maya, and Lightwave versions, and the gold version of the b3d tools, are slated for release in Q1 2001. -- New Distribution Partners Signed: Brilliant signed agreements with 11 new Web sites for content distribution bringing the total number of sites now serving Brilliant Digital's entertainment Webisodes to approximately 40. The sites include Streamsearch.com and Vidnet/Lycos TV. Brilliant also signed an agreement with Studios USA to build an online syndication network targeting their Web sites and television stations' Web sites around the country. -- Opened Singapore Production Studio: In August 2000 a new animation studio was opened in Singapore through a joint venture with e-New Media. The new studio is fully funded by e-New Media and utilizes the b3d production tools. -- Additional Investment Made By e-New Media: E-New Media invested an additional $5 million in Brilliant, increasing its investment in Brilliant to $9 million for an approximately 11 percent stake. -- Content Previews Bundled on Dell's DVD-Enabled Computers: Brilliant's Digital Projector will be made available for download on approximately 1 million Dell PCs on special DVD promotional disc included with new computers sold. -- New Auction Channel Technology Launched: I-Hammer Technology was formally announced allowing 24/7 operation of auction bidding in real time in a virtual environment. Kevin Bermeister Kevin Bermeister has developed substantial businesses in the computers, video games and multimedia industries. He established Ozisoft in 1982, based in Sydney, Australia, which was one of the first interactive multimedia companies. , Brilliant Digital's president, stated: "Demonstrating revenue growth and a clear path to profitability are at the top of the company's agenda. We intend to show that Brilliant's technology is clearly superior and that by focusing on specific content areas, such as music and advertising, we will begin to deliver our first consistent revenue stream with potential for large scale growth. This month we also implemented substantial cost-cutting measures in our Australian Australian pertaining to or originating in Australia. Australian bat lyssavirus disease see Australian bat lyssavirus disease. Australian cattle dog a medium-sized, compact working dog used for control of cattle. content production and Auction Channel business units. "We recently announced significant progress in our steps toward establishing b3d Studio as the premier tool for 3D animated music videos. Our technology gives us a significant competitive advantage. We are able to offer music labels a superior opportunity to fund music playback Playback could mean:
"We are pleased to report that our tools are being well received by the online developer community," continued Bermeister. "The increased growth in b3d tools utilization as well as a growing installed base of Brilliant Digital Projectors See data projector. will propel pro·pel tr.v. pro·pelled, pro·pel·ling, pro·pels To cause to move forward or onward. See Synonyms at push. [Middle English propellen, from Latin us towards our goal of achieving revenue growth in 2001. I want to thank our shareholders for their support and remain convinced that there will be a positive benefit to those who have supported us." About Brilliant Digital Entertainment and b3d Brilliant Digital Entertainment (AMEX: BDE) is a leading entertainment content producer, technology developer and tools provider with an established library of episodic episodic sporadic; occurring in episodes. e. falling a paroxymal disorder described in Cavalier King Charles spaniels in which affected dogs, starting at an early age, experience episodes of extensor rigidity, possibly brought on by stress. e. serial content created for the Internet. These 3-D digitally animated interactive series feature popular television, comic book comic book Bound collection of comic strips, usually in chronological sequence, typically telling a single story or a series of different stories. The first true comic books were marketed in 1933 as giveaway advertising premiums. , and motion picture characters that include Superman Superman invincible scourge of crime. [Comics: Horn, 642–643] See : Crime Fighting Superman superhero under guise of Clark Kent, mild-mannered reporter. , Xena Xena, in astronomy: see Eris. , KISS, Popeye Popeye sailor who owes his incredible muscle-power to a diet of canned spinach. [Comics: Horn, 658] See : Brawniness Popeye degenerate gangster and murderer who rapes Temple Drake. [Am. Lit. and Ace Ventura Ventura (vĕnt  `rə), city (1990 pop. 92,575), seat of Ventura co., SW Calif., on the Pacific coast in a farm and oil region; inc. 1866. .Developed using Brilliant's proprietary suite of software tools, the full-screen productions have smaller files for faster downloads. Content is distributed broadly via Internet syndication See syndication format. to partners including Yahoo!, Warner Bros BROS Brothers BROS Benefits and Retirement Operations Section (King County, Washington) BROS Barnes and Richmond Operatic Society (London, UK) . On-line, Roadrunner roadrunner or chaparral cock Either of two species of terrestrial cuckoo, especially Geococcyx californianus (family Cuculidae), of Mexican and southwestern U.S. deserts. About 22 in. , @Home and VH1.com. Find out more at http://www.brilliantdigital.com. For investor information, go to http://bde.stockpr.com. Brilliant's b3d studio is a suite of authoring tools that enable the creation and presentation of interactive streaming 3D Web content. These tools were developed to meet the production needs of studios, production houses, Web content suppliers, advertising agencies, e-commerce e-commerce, commerce conducted over the Internet, most often via the World Wide Web. E-commerce can apply to purchases made through the Web or to business-to-business activities such as inventory transfers. companies and educational institutions to produce 3D animation for both Internet and television distribution. For information visit http://www.b3d.com. Information About Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. Statements in this news release that relate to (i) the growth in the online music industry to a $5 billion industry by 2005, (ii) Brilliant's ability to conclude future agreements with record companies, (iii) Brilliant's intention to make Internet music videos a core focus of its content activities, (iv) the release in the first quarter of 2001 of Macintosh, Maya, Lightwave Light in the infrared, visible and ultraviolet ranges, which falls between x-rays and microwaves. Wavelengths are between 10 nanometers and one millimeter. and gold versions of the b3d tools, (v) the success of Brilliant's relationship with Studios USA, (vi) Brilliant's ability to deliver a consistent revenue stream and achieve large scale growth, (vii) the establishment of b3d Studio as the premier tool for 3D animated music videos and (viii) other projections, events or performance are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended a·mend v. a·mend·ed, a·mend·ing, a·mends v.tr. 1. To change for the better; improve: amended the earlier proposal so as to make it more comprehensive. 2. , and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are subject to numerous risks including: (i) consumer acceptance of online music, (ii) the music industry's ability to resolve online pirating issues, (iii) Brilliant's ability to dedicate ded·i·cate tr.v. ded·i·cat·ed, ded·i·cat·ing, ded·i·cates 1. To set apart for a deity or for religious purposes; consecrate. 2. the necessary resources to its research and development efforts, (iv) the market's acceptance of 3D animated music videos and (v) the use by others of Brilliant's b3d tools. In addition, if Brilliant is unable to timely release, market, syndicate Syndicate organized crime unit throughout major cities of the United States. [Am. Hist.: NCE, 2018] See : Gangsterism and distribute its new products, or if the products are not commercially successful, Brilliant's results will be materially adversely affected. Information about certain additional risk factors is contained in the company's most recently filed Form 10-KSB report and 10-QSB report which are available from Brilliant Digital Entertainment's Investor Relations Investor relations The process by which the corporation communicates with its investors. department and may be obtained by calling or writing to Mary Mary, the mother of Jesus Mary, in the Bible, mother of Jesus. Christian tradition reckons her the principal saint, naming her variously the Blessed Virgin Mary, Our Lady, and Mother of God (Gr., theotokos). Her name is the Hebrew Miriam. Lou Hotsko, the company's vice president of Marketing & Communications, at 818/615-1501. Note to Editors: A conference call/Webcast with Brilliant Digital's senior management will be conducted on Tuesday, Nov. 21 at 1:45 PT. Additional details forthcoming.
BRILLIANT DIGITAL ENTERTAINMENT INC.
CONDENSED CONSOLIDATED BALANCE SHEET
(unaudited)
(in thousands)
Sept. 30,
2000
Assets
Cash and cash equivalents $ 6,355
Other current assets 1,625
Total current assets 7,980
Other assets 6,522
Total assets $ 14,502
Liabilities and stockholders' equity
Deferred revenue $ 4,627
Other current liabilities 2,188
Total current liabilities $ 6,815
Long-term liabilities 99
Total liabilities 6,914
Total stockholders' equity 7,588
Total liabilities and stockholders' equity $ 14,502
-0-
BRILLIANT DIGITAL ENTERTAINMENT INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands)
(unaudited)
3 months 3 months 9 months 9 months
ended ended ended ended
9/30/00 9/30/99 9/30/00 9/30/99
Revenue:
Total revenues $ 407 $ 299 $ 967 $ 633
Cost of revenues and expenses:
Cost of revenues 120 268 650 617
Sales & marketing 766 250 1,273 729
Web site development 213 0 1,304 0
General and administrative 2,292 1,116 7,085 2,653
Research and development 1,091 1,029 2,767 2,912
Amortization of software
technology and goodwill 320 409 959 409
Depreciation 125 145 324 415
Total cost of revenues and
expenses 4,927 3,217 14,362 7,735
Loss from operations (4,520) (2,918) (13,395) (7,102)
Other income (expense):
Export market development grant 0 55 119 182
Gain (loss) on foreign exchange 2 (0) 3 (5)
Debenture expense 0 (0) (0) (55)
Interest income (expense), net 47 29 133 33
Total other income (expense) 49 84 255 155
Net loss $(4,471) $(2,834) $(13,140) $(6,947)
Comprehensive loss $(4,445) $(2,887) $(13,093) $(6,974)
Basic and diluted net loss
per share $ (0.29) $ (0.23) $ (0.90) $ (0.64)
Common shares used in
computing basic loss
per share 15,149 12,373 14,557 10,878
|
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion