SAN DIEGO, Apr 4, 2001 (BUSINESS WIRE) -- American Technology Corp. (Nasdaq: ATCO chart, msgs) today announced that it has entered into a Letter of Intent with Harman International Industries Inc. (NYSE: HAR chart, msgs) on certain intellectual property related to its planar magnetic transducer technology (NeoPlanar(TM)).
Terry Conrad, president of ATC, stated, "We have worked closely with Harman on the broad spectrum of critical testing of our Planar Magnetic Transducer (PMT) technology and its applications. The conclusion of this work has confirmed our confidence in the commercial viability of ATC's proprietary Planar Magnetic Technology. Harman represents a premiere delivery system to the largest markets for the technology." He continued, "We anticipate that these devices will find broad application in automobiles, home audio, multimedia and sound reinforcement due to their high performance-to-cost ratio, light weight, and unusual output capability."
The Planar Magnetic Transducer technology, developed by American Technology Corp. in one of the company's laboratories in Carson City, Nev., is a revolutionary sound reproduction system employing a special thin film, and a single layer of ultra-thin high-energy neodymium magnets. The most important quality of PMT loudspeakers is the ability to provide extremely wide band, low distortion performance from a device as thin as 1/8 inch and as light as two ounces. PMT's electrical conductors are directly coupled to the air which provides instant conversion of audio signals into acoustic waves. Harman intends to acquire all rights to the technology with ATC retaining rights for military applications.
About Harman International Industries Inc.
Harman International Industries is a leading manufacturer of high-quality, high fidelity audio and video products for the consumer, OEM, and professional markets. It includes Harman/Becker Automotive Systems, which is the premier, worldwide supplier to the automotive industry of infotainment and multimedia systems and audio systems and components under the Mark Levinson(R), Becker(R), JBL(R), Infinity(R) and Harman/Kardon(R) brand names. Founded by Dr. Sidney Harman in 1953, Harman International is the maker of best-in-class audio products for cars, theaters, recording studios, auditoriums, and homes. In 2000, Harman International registered $1.67 billion in sales, and the company's stock is traded on the New York Stock Exchange under the symbol: HAR.
Additional Information about Harman International, its products, and its brands may be found at www.harman.com.
About American Technology Corp.
American Technology Corp. is shaping the future of sound by developing and licensing its technology and intellectual property portfolio which includes: the award-winning HSS(TM) and StratifiedField(TM) technologies; NeoPlanar(TM) (Planar Magnetic Transducer (PMT) technology); PureBass(TM) sub-woofer technology; and FM Sounds(TM) consumer radio products. The company is establishing a strong portfolio of patents, trademarks, and know-how including over 100 U.S. and Foreign patents and patent filings to date. For more information on the company and its technologies and products please visit our Web site at www.atcsd.com.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Except for historical information contained here, the matters discussed in this news release contain forward-looking statements which involve risks and uncertainties, including the timely availability and acceptance of new products, the impact of competitive products and pricing, the management of growth, and other risks detailed from time to time in the company's filings with the Securities and Exchange Commission.
Contact:
American Technology Corp., San Diego
Robert Putnam, 858/679-3168 |
