----------------------------------------------------------------
Simarx,you think this news will have any positive effect on the stock
today?
--------------------------------------------------------------------------------
Wednesday July 22, 8:31 am Eastern Time
Company Press Release
SOURCE: Navarre Corporation
Navarre Corporation and CompUSA Sign Pact for Distribution of DVD Video
MINNEAPOLIS, July 22 /PRNewswire/ -- Navarre Corporation (Nasdaq: NAVR - news) announced it will become the supplier of DVD movies to CompUSA Inc. (NYSE: CPU - news), one of the nation's leading retailers and resellers of PC products. This expands Navarre's current relationship that includes supplying a broad array of software products to CompUSA. Navarre will provide CompUSA with a ''turn-key'' DVD department for its 162 computer superstores nationwide.
''This is a new and exciting product line for both Navarre and CompUSA. With the dramatic projected growth of the installed base of DVD ROM-equipped PCs and consumer electronics players, Navarre is uniquely poised to take advantage of this burgeoning convergence market. It is estimated that DVD products will account for over 20% of future home video sales. We estimate that Navarre's first year revenues from DVD products could eclipse an estimated $15 million,'' stated Ian Warfield, Vice President and General Manager - Computer Products Division.
''We're excited about this partnership with Navarre which we believe will promote CompUSA's leadership position in the rapidly growing DVD category,'' said Larry Mondry, Executive Vice President of Merchandising at CompUSA. ''We expect DVD to continue to gain popularity and be especially hot for the holidays.''
Eric Paulson, President and CEO of Navarre Corporation, added ''When we started Navarre, over 15 years ago, it was with the vision that one day music, video and computer software would come together in one all encompassing media. Today, Navarre may be the only entertainment distribution company to offer our clients and artists access to all three entertainment categories.''
Navarre Corporation's five major business segments are: Computer Products Division which publishes and distributes quality consumer software to retailers nationwide; Independent Music Distribution is the major distributor of independent music labels in the United States; ARM distributes major studio music recording labels to non-traditional retail outlets; DVD Home Video distribution; and the wholly owned subsidiary NetRadio Network is the premier Internet radio network featuring 150 channels of originally programmed audio content (www.netradio.net)
CompUSA is one of the nation's leading retailers and resellers of personal computers and related products and services.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created hereby. Statements in this release that are not strictly historical are ''forward looking'' statements which are subject to risk and uncertainty. Investors are cautioned that all ''forward- looking'' statements contained herein may not be reasonable and assumptions could be inaccurate, and should not be construed, considered or assumed as guarantees. The inclusion of such information should not be regarded as a representation or guarantee, by the Company, or any other person, that the objectives and plans, stated herein, will be achieved. Unknown factors could cause actual results to differ as well as other risks detailed in the company's reports filed with the Securities and Exchange Commission, including its prospectuses, 10K and 10Q filings.
SOURCE: Navarre Corporation
--------------------------------------------------------------------------------
More Quotes
and News: Compusa Inc (NYSE:CPU - news)
Navarre Corp (Nasdaq:NAVR - news)
Related News Categories: computers, entertainment, leisure/travel, retail
--------------------------------------------------------------------------------
Help
--------------------------------------------------------------------------------
Copyright c 1998 PRNewswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.
See our Important Disclaimers and Legal Information.
Questions or Comments? |
