file this one under "perception is everything". MDEA reports earnings: biz.yahoo.com
Media 100 Inc. Reports Fourth Quarter and Year End Results
Internet Streaming Media Sales Grow 421% Year Over Year, 93% Over Prior
Quarter
MARLBORO, Mass.--(BUSINESS WIRE)--Jan. 5, 2000--Media 100 Inc. (NASDAQ:MDEA - news), the pioneer of streaming media production tools, today reported financial results for its fourth quarter and fiscal year ended November 30, 1999.
Net sales for the fourth quarter increased 19% to $13.7 million, versus $11.5 million reported in the fourth quarter of fiscal 1998. Excluding amortization of acquisition-related intangible assets, the Company reported net income of $1.4 million or $0.15 per diluted share compared to a net loss of $1.5 million or $0.18 per share for the fourth quarter of fiscal 1998. Including amortization of acquisition-related intangible assets, the Company reported net income of $1.3 million, or $0.14 per diluted share, for the fourth quarter of fiscal 1999. Fourth quarter results include a full quarter of net sales from Media 100 subsidiary Terran Interactive, which produced year over year quarterly net sales growth of 421% and sequential net sales growth of 93%. Media 100 completed the acquisition of Terran Interactive during the third fiscal quarter of 1999. In the fourth quarter, Terran accounted for more than 20% of total company net sales.
Net sales for the year ended November 30, 1999 were a record $51.5 million, an increase of 23% over the $41.8 million reported in fiscal 1998. The Company reported net income of $570,000 or $0.06 per diluted share, including amortization of acquisition-related intangible assets, a charge for in-process research and development, and restructuring costs, for the fiscal year ended November 30, 1999. This compares to a net loss of $8.1 million or $0.97 per share in fiscal 1998.
Fourth Quarter & Recent Milestones:
Shipped Media 100 for Apple's high speed Power Mac (TM) G4
Shipped Media 100 version 6.0, a complete solution for creating and streaming video on the Internet
Formed strategic alliance with ICE (Integrated Computing Engines) to deliver accelerated streaming media compression tools for Web site designers, DVD authors, and multimedia professionals
Shipped Media Cleaner Power Suite, the fastest solution available to prepare high-quality streaming media for the Internet
Signed partnership agreement with encoding.com to incorporate Media Cleaner Pro into encoding.com's
Optimized Encoding System
Established distribution agreement with Microsoft to distribute Media Cleaner EZ for Windows Media Technologies from Microsoft's Web site.
Announced iFinish, the world's first streaming media production system Media Cleaner was designated by Excite@Home as the preferred tool for creating high-quality Internet video
Established distribution agreement with Apple Computer to bundle Media Cleaner EZ for QuickTime with Apple's Final Cut Pro digital video editing application
Completed acquisition of Wired, Inc. Announced definitive agreement to acquire Digital Origin, Inc.
On December 23, 1999 Media 100 Inc. completed the acquisition of MPEG streaming media leader Wired Inc. of Santa Clara, California. Wired is a fast-growing supplier of MPEG streaming media production tools for the Internet and DVD authoring. Wired solutions, such as Digital Media Press, greatly reduce the cost and complexity of using the industry-standard MPEG streaming format by reducing or eliminating the time required to encode (generate a stream) or transcode (convert to or from) MPEG video. Wired tools deliver real-time encoding, transcoding and decoding (playback) of MPEG video streams, allowing Web site designers, DVD authors, video editors, and multimedia professionals to quickly get their content online or on DVD.
On December 28, 1999 Media 100 announced a definitive agreement to acquire Digital Origin Inc. (NASDAQ: DODV - news) of Mountain View, California. Digital Origin is the leading developer of digital video editing and effects software applications designed to support the new low-cost, high-quality DV (digital video) camcorders, which rapidly are being adopted as the standard for acquiring video for Internet applications.
The combined company will target Internet desktops with low-cost applications that allow personal computer users to capture, edit, and stream video on the Internet using a single, integrated, and easy-to-use application. Digital Origin is the developer of the award-winning applications EditDV and IntroDV, which provide Web site designers, DVD authors, multimedia professionals, and consumers the ability to create video programs -- complete with titles, effects and audio -- easily and at low-cost on a standard PC or laptop.
John Molinari, president and chief executive officer of Media 100 Inc. said, ''We are very excited by the achievements of the last quarter, the upcoming acquisition of Digital Origin, and the opportunity to substantially grow our Internet streaming media business in the coming quarters. Our mission to become a leading supplier of Internet streaming tools has taken firm root and we continue to broaden our reach at an accelerated pace. Our Terran Interactive business is growing strongly, and we expect continued strong growth in Terran's business in the coming quarters as we deliver new products that integrate content creation with Internet streaming.
''We see the acquisition of Digital Origin as greatly enhancing our streaming media capabilities. The combined company will possess an intellectual property portfolio unmatched in the streaming media market, allowing us to deliver tools addressing all aspects of the streaming media process from acquiring video from a camera to editing the video and streaming it on the Internet. Our product portfolio will range from very low-cost, consumer-oriented software applications to high-performance editing, effects and streaming systems targeted at Internet broadcast companies.
''In the last several months, we have moved aggressively to strengthen our relationships with leaders in the streaming media marketplace, such as RealNetworks, Microsoft, and Apple, and forged a strategic relationship with Exite@Home, a global media company, where we were selected as the preferred solution for creating high-quality Internet video. As streaming video on the Internet becomes integral to communication, community and commerce we are well-positioned to deliver products that meet customer needs and drive our business.'' |
