Syntax-Brillian Comments on FCC Forfeiture Order.
TEMPE, Ariz. -- Syntax-Brillian Corporation The American company Syntax-Brillian Corporation (NASDAQ: BRLC) was formed by the merger of Syntax (founded in May 2003 and started shipping widescreen HDTV-ready LCD televisions in April 2004 with Brillian Corporation on November 30, 2005. (Nasdaq:BRLC), a leading manufacturer and marketer of LCD HDTVs, digital cameras and consumer electronics products, today issued a statement in response to a forfeiture The involuntary relinquishment of money or property without compensation as a consequence of a breach or nonperformance of some legal obligation or the commission of a crime. The loss of a corporate charter or franchise as a result of illegality, malfeasance, or Nonfeasance. order issued by the Federal Communications Commission Federal Communications Commission (FCC), independent executive agency of the U.S. government established in 1934 to regulate interstate and foreign communications in the public interest. ("FCC (1) (Federal Communications Commission, Washington, DC, www.fcc.gov) The U.S. government agency that regulates interstate and international communications including wire, cable, radio, TV and satellite. The FCC was created under the U.S. ") concluding that the company violated the digital television rule concerning the importation and interstate shipment of analog televisions Analog television (or analogue television) encodes television and transports the picture and sound information as an analog signal, that is, by varying the amplitude and/or frequencies of the broadcast signal. .
As part of the order, the FCC has fined the company $1.266 million, a reduction from the initial fine of $2.9 million proposed in the agency's May 2007 original Notice of Apparent Liability.
The company is disappointed with, and intends to seek further review of, today's action.
The Commission's investigation focused on mid-size television models that have been discontinued for some time. The company has replaced these models with its next-generation Olevia LCD HDTVs with integrated digital tuners A digital tuner is a tuning device that allows a television or radio set to receive signals via airwaves, satellite, or cable and translates them into a signal the device can display. . Syntax-Brillian emphasizes that its Olevia LCD HDTVs are 100 percent digital and have been so for nearly two years.
Syntax-Brillian has complied with the Commission's investigation and responded in a timely manner to all of its inquiries.
Syntax-Brillian fully supports the digital transition and will continue to educate consumers on the evolution to digital TV.
Syntax-Brillian Corporation (www.syntaxbrillian.com) is one of the world's leading manufacturers and marketers of LCD HDTVs, digital cameras, and consumer electronics products. The Company's lead products include its Olevia(TM) brand (www.Olevia.com) high-definition widescreen LCD televisions -- one of the fastest growing global TV brands -- and Vivitar brand (www.vivitar.com) digital still and video cameras. Syntax-Brillian has built an Asian supply chain coupled with an international manufacturing and distribution network to support worldwide retail sales channels and position the Company as a market leader in consumer digital entertainment products.
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. :
Certain statements contained in this press release may be deemed to be forward-looking statements under federal securities laws, and Syntax-Brillian intends that such forward-looking statements be subject to the safe harbor Safe Harbor
1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated.
2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. created thereby. Syntax-Brillian cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained herein. Such factors include changes in markets for the Company's products; changes in the market for customers' products; the failure of the Company's products to deliver commercially acceptable performance; the ability of the Company's management, individually or collectively, to guide the Company in a successful manner; and other risks detailed in Syntax-Brillian's Annual Report on Form 10-K Form 10-K
A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information.
See 10-K. for the fiscal year ended June 30, 2007 and subsequent filings with the Securities and Exchange Commission.
Brillian and Vivitar are trademarks or registered trademarks of Syntax-Brillian Corporation. All other trademarks are the property of their respective owners.