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Technology Stocks : Ampex Corporation (AEXCA)
AMPX 10.61-6.2%3:59 PM EST
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To: Glenn Perry who wrote (3766)11/6/1998 10:45:00 AM
From: Glenn Perry   of 17679
 
Makers of MicroSphere (Scitex Digital Video) no longer making MicroSphere:

On the MicroNet site, there was a job opening for a Digital Video Product Manager, "The ideal candidate will posses a good working knowledge of Media 100, MicroSphere..."

scitex.com

...the results for the quarter ending September 30, 1998 include an estimated loss resulting from the Company's exit from the digital video business in the amount of $62.7 million. This amount is comprised of a $49.7 million provision for the writeoff of Scitex Digital Video (SDV), and a $13.0 million write down of the investment in Truevision Inc. to market price. Therefore, the total net loss reported for the quarter is $78.7 million or $1.83 per share, compared to net income of $2.2 million or $0.05 per share for the corresponding period last year.
...the Company is in discussions with certain parties for the sale of Scitex Digital Video. There can be no assurance that any such transaction will materialize. However, if successful, the transaction is expected to close by year-end. The digital video business is presented in the third quarter and nine month results as "discontinued operations". Therefore, the results from continuing operations presented for the current period and for the corresponding periods last year, exclude SDV.

It will be interesting to monitor this situation to see who (if anyone) buys their digital video business...
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