SPAZ to pop more tomorrow, great news, gonna pop like EDIG methinks...
Wednesday June 16, 9:15 am Eastern Time
Company Press Release
SOURCE: Spatializer Audio Laboratories
Acer and Hitachi Select Spatializer N-2-2; Spatializer Audio Labs Steps Up Licensing Momentum for N-2-2
Spatializer Solidifies Lead as the De Facto Standard For Virtual Surround in DVD
WOODLAND HILLS, Calif., June 16 /PRNewswire/ -- Spatializer Audio Laboratories (OTC Bulletin Board: SPAZ - news) today announced the incorporation of its Spatializer® N-2-2(TM) virtual surround sound technology into DVD players by Acer Consumer and Computer Products Business Unit and Hitachi Limited. These new design wins mark the third major announcement for N-2-2 in the DVD player sector. Spatializer earlier announced N-2-2's use in DVD models from Toshiba, LG, Zenith, and Emerson. The Acer and Hitachi players (Hitachi-DV-P250 & Acer-DVD-5500 series) will be available in retail outlets beginning in July.
''We are very honored to have won the competition for inclusion by these globally recognized brands. DVD players are a hot commodity and with Spatializer N-2-2, people are hearing the difference. According to CEMA, the number of DVD units retailed in just the US this year has already exceeded the total number sold in 1998. This further positions Spatializer to ride the growth wave of this surging consumer entertainment technology,'' stated Henry R. Mandell, interim chief executive officer of Spatializer Audio Laboratories, Inc.
Mr. Mandell continued, ''The addition of these manufacturers to our existing licensee base of Toshiba, Zenith, Emerson, and Goldstar robustly moves us forward toward achieving our objective of being the de facto standard for virtual surround sound technology in the worldwide DVD market.''
''We are pleased to have Spatializer as a partner. We like N-2-2, and we think our customers will like the feature too. With this technology in our DVD players, the consumer can now have the complete home-theater experience from only two speakers,'' said Rick Lei, Vice President and General Manager of Acer Consumer and Computer Products Business Unit.
CEMA, the Consumer Electronics Manufacturers Association, recently reported US DVD player sales of 907,264 units for the period January to May 1999. This represents a 460% increase over the corresponding 1998 period where sales were 197,263 units. In 1998, monthly DVD player sales in the U.S. peaked in December at 233,505, with the 12-month U.S. total reaching 1,089,261 units.
Acer Group is the world's third-largest PC manufacturer with revenue of $6.7 billion in 1998. The Acer Group employs more than 28,000 people in over 100 countries, offering a broad selection of industry leading high-end server, multimedia PCs, notebook, computer peripherals, DVD and semiconductors.
Hitachi, Ltd., headquartered in Tokyo, Japan is one of the world's leading global electronics companies, with fiscal 1997 consolidated sales (ended March 31, 1998) of $63.8 billion. The company, with more than 330,000 employees around the world, manufactures and markets a wide range of products, including computers, semiconductors, consumer products and power and industrial equipment. Hitachi, Ltd. has 913 subsidiaries, including 276 overseas corporations.
Spatializer Audio Laboratories, Inc. is a leading developer, licensor and marketer of next-generation technologies for the consumer electronics, computing and entertainment industries. The company's advanced audio technology is incorporated into consumer electronics audio, video and DVD products from global brand leaders including Toshiba, JVC, Panasonic, Hitachi, Sharp, Sanyo, Goldstar, Emerson, Zenith and Proton and in PC multimedia systems and peripherals from Dell, Gateway, Hewlett Packard, Fujitsu, Seiko-Epson, NEC, Micron and Labtec.
Spatializer stock is traded on the OTC Bulletin Board under the symbol ''SPAZ''. The company is headquartered in Woodland Hills, Calif. and has marketing, engineering and R&D facilities in Mountain View, Calif. and Tokyo. Further information may be obtained from Spatializer's SEC filings, Web-site (www.spatializer.com) or by contacting the company directly.
Safe Harbor Act Statement Under the Private Securities Litigation Reform Act of 1995: Certain information in this news release, including the comments by Mr. Mandell in paragraphs two and three are forward looking statements that are based on management's belief, as well as assumptions made by, and information currently available to management.
While the Company believes that its expectations are based upon reasonable assumptions, there can be no assurances that the Company's financial goals will be realized. Numerous uncertainties and risk factors may affect the Company's actual results and may cause results to differ materially from those expressed in forward-looking statements made by or on behalf of the Company. These uncertainties and risk factors include, but are not limited to dependence on new technology and intellectual property, dependence on the PC and consumer electronics industries, dependence on product shipments of third-party licensees, competition and pricing pressures, the timing and realizable value of the MDT technology, the continued need for additional capital and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.
Notices: Desper Products, Inc. is a wholly owned subsidiary of Spatializer Audio Laboratories, Inc. Spatializer® is a registered trademark of Desper Products, Inc. N-2-2(TM) is a trademark of Desper Products, Inc.
SOURCE: Spatializer Audio Laboratories
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