Videonics New Products Fuel October Revenue Growth.CAMPBELL, CALIF.--(BUSINESS WIRE)--Nov. 6, 1996--Videonics Inc., (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :VDNX) today provided forward-looking information, which was previously restricted due to California's Proposition 211 ballot measure. Jim McNeill, Videonics CFO See Chief Financial Officer. stated, "We are pleased that Proposition 211 was defeated, and now feel that we can provide initial market feedback on our new products. The following 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. involve risks and uncertainties. The company's actual results could differ materially from those discussed." Michael D'Addio, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. stated, "On October 16, 1996 the company reported that it had begun shipping six new products during the third quarter. These new products have been well received by the market and their sales have given us strongly increased revenues through the month of October. In addition, two of our older products, the TitleMaker 2000 and Digital Video Mixer continue to sell well. "Revenues for October 1996 increased approximately 45 percent compared to October 1995. While we are encouraged by the initial market acceptance of our new products, demand for individual products may accelerate or decelerate de·cel·er·ate v. de·cel·er·at·ed, de·cel·er·at·ing, de·cel·er·ates v.tr. 1. To decrease the velocity of. 2. due to seasonality or other factors. There can be no assurance, therefore, that October results are indicative of results for the current or future quarters." All six of these new products demonstrate Videonics' product strategy of being the price performance leader in each of the company's targeted markets. The six products are: PowerScript, a breakthrough product in high end character generation; TitleMaker 3000, a third generation product in Videonics' highly successful TitleMaker family of character generators (1) Circuitry that converts data characters into dot patterns for a display screen. (2) A device that creates text characters that are superimposed onto video frames. ; Home Video Producer, a prepackaged pre·pack·age tr.v. pre·pack·aged, pre·pack·ag·ing, pre·pack·ag·es To wrap or package (a product) before marketing. Adj. 1. edit studio for entry level videophiles; Thumbs Up 2000, an easy to use editor for today's camcorder owners; and from Nova Systems Division, the Studio Frame signal processing See DSP. system and the Median Noise Reducer. The information discussed herein contains forward looking statements that involve risks and uncertainties. The company's actual results could differ materially from those discussed. Factors that could contribute to such differences include, but are not limited to, those discussed in "Risk Factors" and "Management's Discussion and Analysis Management's discussion and analysis (MD&A) A report from management to shareholders that accompanies the firm's financial statements in the annual report. It explains the period's financial results and enables management to discuss topics that may not be apparent in the financial " in the company's 10K filed for the year ended Dec. 31, 1995, as well as those discussed elsewhere in other public filings made by the company with the Securities and Exchange Commission. In particular, the company's financial results have been difficult to predict due to significant delays in the introduction of new products and the uncertainties associated with marketing and customer acceptance of new products. Videonics is a leading designer of affordable, high-quality, digital video post-production equipment. Videonics' products are used by videographers, business, industry, education and videophiles; they are also used in the broadcast, cable, video presentation and video conferencing See videoconferencing. (communications) video conferencing - A discussion between two or more groups of people who are in different places but can see and hear each other using electronic communications. markets. The company manufactures standalone and personal-computer-based hardware and software products that edit and mix raw video footage and add special effects special effects, in motion pictures, cinematographic techniques that create illusions in the audience's minds as well as the illusions created using these techniques. and titles. Products include edit controllers, video and audio mixers, video processors, character generators, multimedia software, frame synchronizers, time base correctors, sync generators, transcoders, distribution amplifiers and routing switchers. The company has its headquarters in Campbell, Calif. Its stock is traded on the NASDAQ National Market System under the symbol VDNX. Further information on Videonics may be obtained from the company's SEC filings, visiting the company's Web page at http://www.videonics.com/, or by contacting the company directly. -0- HOW TO CONTACT VIDEONICS: Main Phone number: 408/866-8300 FAX: 408/866-4859 Product and Dealer Information: 800/338-3348 Product Support: 408/370-9963 E-mail:info@videonics.com Internet World Wide Web: http://www.videonics.com/ CompuServe: GO VIDEONICS, CompuServe ID 72662, 3115 -0- CONTACT: Videonics, Inc. Jim McNeill, 408/866-8300 |
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