ACMM now trading at about 31/32...profile at YaHoo...ACMM files w/the SEC:
Strategic Alliance Between Tektronix/Accom
Provides Total Production Solution
Pact Integrates Award-Winning Accom Digital Video Effects, Award-Winning Grass Valley
Switchers
BEAVERTON, Ore. and MENLO PARK, Calif., June 23 /PRNewswire/ -- Two world leaders in digital video technology,
Tektronix, Inc. (NYSE: TEK - news) and Accom, Inc. (OTC Bulletin Board: ACMM - news), today announced an OEM
alliance that will provide customers a robust choice of high-quality effects systems from Grass Valley(TM) Products. The
alliance includes an OEM agreement under which Tektronix will integrate Accom's DVE products with market-leading Grass
Valley switchers for a total production solution.
The pact also includes the marketing, distribution, and service of Accom DVEs through Grass Valley Products sales and
service organizations. Beginning June 28, Grass Valley Products will brand and sell Accom Dveous(TM) products as part of a
worldwide, non-exclusive distribution agreement. The DVE products join the existing Grass Valley Krystal(TM) line, providing
customers a robust choice of high-quality effects products.
''In an industry such as ours, the availability of a total production solution is key. Grass Valley Products recognizes that, for
logistical and support reasons, many customers prefer to buy certain groups of products from a single source -- and that a
switcher/DVE combination is one of them. Accom and Grass Valley product lines have a natural synergy that will provide a
strategic competitive advantage to our customers,'' said Tim Thorsteinson, president of the Tektronix Video and Networking
business unit.
''We are very pleased that Grass Valley Products has chosen to incorporate the Dveous DVEs in their product line,'' said
Junaid Sheikh, president and CEO of Accom. ''Our customers win because they get the best of breed in switchers and DVEs
from a single source. This alliance also strengthens Accom's position in the industry as the premier manufacturer of DVEs. We
are extremely excited about developing and bringing new DTV effects products to the market in the future.''
Under terms of the alliance announced today, Grass Valley Products will market the Dveous product under the GVeous(TM)
brand name. The Dveous DVE is the de facto standard for production and broadcast facilities and is widely used on many
broadcast remote trucks. Dveous usage includes ABC, NBC, CBS, CNN and FOX networks. The GVeous DVE is a twin
channel product that can function as either two videos, or a video plus key plus full-bandwidth SuperShadow.
Grass Valley Products will also offer Accom's Brutus option to the GVeous product. The Brutus option is a quad twin-channel
DVE which uses an innovative combiner chassis to control two complete DVEs through a compact control panel. It has the
power/performance characteristics needed for achieving today's top levels of live and post-production creativity. Users can
easily upgrade the GVeous product to the Brutus DVE using an additional GVeous chassis and a Brutus combiner chassis.
GVeous systems may be ordered through the Grass Valley Products sales force and are available for immediate delivery. As
part of the agreement with Accom, Grass Valley Products will also provide all the after sales service and support just like other
Grass Valley products.
Advanced Production Switcher Technology
Many customers have already taken advantage of the recent engineering advances produced by Tektronix and Accom. The
Grass Valley Control Point Language (CPL) links Accom DVEs to the Grass Valley(TM) 4000 and 2200 production switcher
lines. The interface integrates the DVE effect into the switcher's effect timelines for automated or manual control of the effect,
with the ability to align effects easily using the switcher's Time Align feature.
About the Companies
Accom, headquartered in Menlo Park, California, designs, manufactures, sells and supports a complete line of digital video
production, recording and editing tools, and the ELSET virtual set systems, for the worldwide professional television
production, post production, broadcasting, and computer video marketplace.
Whether it's distributing video over the air, through digital broadcast facilities and across standard data networks, or providing
the industry's best video storage or production products, Tektronix has the digital solution. Tektronix continues its video
industry leadership with new Profile® and Grass Valley products to enable video professionals to realize the full potential of
going digital.
Tektronix is a portfolio of measurement, color printing and video and networking businesses dedicated to applying technology
excellence to customer challenges. Tektronix is headquartered in Wilsonville, Oregon, and has operations in 26 countries
outside the United States. Founded in 1946, the company had revenues of $2.1 billion in fiscal 1998.
NOTE: Tektronix and Profile are registered trademarks and Grass Valley, GVeous and Krystal are trademarks of Tektronix,
Inc. Accom and Dveous are registered trademarks of Accom, Inc. Brutus is a trademark of Accom, Inc. All other trade names
referenced are the service marks, trademarks, or registered trademarks of their respective companies.
SOURCE: Accom, Inc.
Accom Announces Record Revenue and Return to
Profitability
MENLO PARK, Calif., April 15 /PRNewswire/ -- Accom, Inc. (OTC Bulletin Board: ACMM), today reported results for its
first quarter ended March 31, 1999. Revenues totaled $9.5 million versus $3.1 million for the quarter ended March 31, 1998,
and the Company reported net income of $514,000 or $0.05 per share for the quarter ended March 31, 1999, versus net loss
of $576,000 or $0.09 per share for the quarter ended March 31, 1998. As previously announced, Accom acquired
substantially all of the assets of Scitex Digital Video (SDV) on December 10, 1998.
Accom also reported results for the transition period from October 1, 1998, to December 31, 1998, resulting from the change
in its fiscal year from a September 30 to December 31 year end. For the transition period, revenues totaled $3.4 million versus
$4.1 million for the quarter ended December 31, 1997. Net loss for the transition period was $3.9 million or $0.52 per share
versus net income of $142,000 or $0.02 per share for the quarter ended December 31, 1997. During the transition period,
$2.2 million of the net loss resulted from the write-off of in-process R&D. Results from the operations of SDV's business were
included in the transition period results for the period following the acquisition on December 11, 1998.
''We are very pleased with the results of the first quarter of combined operations,'' commented Junaid Sheikh, Chairman,
President and CEO of Accom, Inc. ''We had two goals for the first quarter: to integrate the SDV operations as quickly as
possible enabling us to operate as one company, and to achieve solid profitability, thereby demonstrating the effectiveness of
our plan. I am happy to say that we accomplished both these goals. Now we are looking ahead to our largest trade show,
NAB, next week in Las Vegas where we will be introducing important new products.''
Sheikh continued, ''With the SDV acquisition, Accom has significantly expanded its scope in the video industry. Today,
Accom offers its customers a broad product line of non-linear video editing, on-line video editing, digital video effects, and
digital disk recording systems, as well as our Elset virtual set software. We are investing heavily in the development of new
products which should enable us to further serve the needs of our customers, grow the company profitably and improve
shareholder value.''
Sheikh added, ''As previously announced on March 12, 1999, the Company completed the private placement of $3.5 million
in senior convertible subordinated notes with American Bankers Insurance Group and other investors. With this financing, we
have substantially strengthened our financial base, positioning the company for continued investment in new product
development.''
Note: This press release contains forward-looking statements based upon current expectations or beliefs as well as a number of
assumptions about future events, and that are subject to factors and uncertainties that could cause actual results to differ
materially from those described in the forward-looking statements. The reader is cautioned not to put undue reliance on these
forward-looking statements, which are not a guarantee of future performance and are subject to a number of uncertainties and
other factors, many of which are outside the control of Accom. The forward-looking statements in this release address several
subjects including, for example, the product offerings of the company, investment in new product development, the expected
revenue and profitability of the company, and the ability to serve customer needs in the future. The following factors, among
others, could cause actual results to differ materially from those described in these forward-looking statements: increased
competition and technological changes in the industry in which Accom competes; the risk that the Company will not be able to
offset revenue declines in its Asia Pacific region, the risk that the Company's new products will not achieve market acceptance,
and the risk that the Company will not return to profitable growth. For a detailed discussion of these and other cautionary
statements, please refer to Accom's filings with the Securities and Exchange Commission, including its Transition Report on
Form 10-K for the transition period ended December 31, 1998, including the section entitled ''Additional Factors That May
Affect Future Results.'' The 10-K report is available by calling Accom at 650-328-3818 or by accessing Accom's EDGAR
filings on the SEC home page on the Internet at sec.gov.
Accom, headquartered in Menlo Park, California, designs, manufactures, sells, and supports a complete line of digital video
production, disk recording, and editing tools, and its ELSET virtual set systems, for the professional worldwide television
production, post production, broadcasting, and computer video marketplaces.
For more information, visit the Accom web site at accom.com. |
