Nice calls Rande, thanks <g>
Check out SRSL:
500,000 share buyback announced today:
STATS:
Recent Price $ 3 1/32
52 Week High $ $10.25
52 Week Low $2.38
Mkt. Cap. (Mil) $34.58
Shares Out (Mil) 11.65
Float(Mil) 3.50
NEWS:
SRS Labs Ranks as 120th Fastest Growing U.S. Technology Company by Deloitte & Touche Technology Fast 500 Award for 1998
PR Newswire - December 30, 1998 15:42
Company is Named Among the Nation's Elite Technology Enterprises
SANTA ANA, Calif., Dec. 30 /PRNewswire/ -- With a five-year growth of 2,756%, SRS Labs, Inc. (Nasdaq: SRSL), a leading provider of audio and voice technology solutions, is the 120th fastest growing technology company in the United States according to Deloitte & Touche's Fourth Annual Technology Fast 500. Now in its fourth year, the Fast 500 program ranks the 500 fastest-growing technology companies in the United States based on percentage revenue growth over a five-year period. A complete list of the Fast 500 for 1998 was printed in the November 30, 1998 edition of the ASAP supplement of FORBES magazine.
Thomas Yuen, SRS Labs' Chairman and CEO states, "It is an honor to be recognized in the upper echelon of technology business enterprises in the United States. Over the past five years, we have seen dramatic growth from our increase in technologies as well as our expansion of business capabilities. In 1993, we had one audio technology and currently we offer a full portfolio of 10 distinct audio and voice technologies. We have transitioned from a pure technology licensing company, to a full-service provider of audio and voice technology solutions -- with our capabilities ranging from invention of intellectual property to design of custom analog chip implementation options of our technologies, to OEM private label manufacturing capabilities. We've gone from a privately held company with one small office in California to a publicly traded company with operations and offices worldwide.
"Our customer base has increased from two licensees in 1993 to over 200 of the world's leading manufacturers of consumer electronics, car audio, computer, telecommunications and professional sound products. To-date, over 30 million SRS-enhanced products have been shipped worldwide. "
"SRS Labs is also proud to be beginning the new year at the world's largest consumer electronics tradeshow, CES, in Las Vegas from January 7-11th. In our booth #3635, we will be launching our newest audio and voice technologies, as well as announcing new customers and new design wins at our press conference on Thursday January 7. We look forward to an exciting 1999 and hope to continue our company's growth over the next five years."
To qualify for The Fast 500, entrants must have been in business a minimum of five years with 1993 revenues of at least $50,000 and at least $1,000,000 in 1997. They must be headquartered in the United States and must be considered a technology company, either producing technology and/or providing technology products or services. The Fast 500 is compiled from three sources; winners of Deloitte & Touche's 1998 regional US Fast 50 programs, nominations submitted directly to the Fast 500 program; and public company database research. SRS Labs ranked 5th in the Orange County, California Fast 50 program earlier this year. Note: For the complete list of Deloitte & Touche LLP Technology Fast 500 winners for 1998, visit www.us.deloitte.com/fast500.
About SRS Labs, Inc.
SRS Labs is the world's leading provider of audio and voice enhancement technology solutions. SRS Labs' business consists of licensing audio and voice enhancement technologies to manufacturers of consumer electronics, computer, gaming and telecommunications equipment; the design of custom ASICs (application specific integrated circuits) for consumer electronics, game, telecommunications and personal computer manufacturers; the distribution of components, chips and assembly systems for the China and Hong Kong markets; and the manufacturing and marketing of home theater and game products for the Asian consumer marketplace.
Audio and voice technology from SRS Labs has shipped in more than 30 million consumer electronics products worldwide from more than 170 industry leading manufacturers, including Sony, Kenwood, RCA, Mitsubishi, Nakamichi, Sharp, Pioneer, Samsung, Kawai, Hitachi, Kurzweil, IBM, Packard Bell, Dell, Compaq, Micron, Gateway, AST, Acer, Toshiba, General Instruments and Apple. Announced SRS Labs chip partners include Cirrus Logic, Zoran, ST Microelectronics, Fujitsu, JPI, Toshiba Semiconductor, Motorola, Phillips, Mitsubishi, AKM Semiconductor, Medianix, LSI Logic, and New Japan Radio -- NJRC. SRS Labs' wholly-owned subsidiary, based in Hong Kong, Valence Technology, Inc., designs, manufacturers or distributes components, chips or assembly kits from many of the world's leading technology companies, including Lucent, Philips, Oak Technology, National Semiconductor and Rockwell. For more information on SRS Labs' technologies or the company's worldwide licensing program, visit the SRS Labs website at srslabs.com.
SRS and the SRS symbol are registered trademarks of SRS Labs, Inc. in the United States and selected foreign countries. All other brand names mentioned are trademarks or registered trademarks of their respective holders.
Except for historical information contained herein, the matters set forth in this press release, such as the statements of Mr. Yuen in paragraph four of this release include forward-looking statements and projections (including statements concerning plans and objectives of management for future operations) 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 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. Factors which may affect results expressed in forward-looking statements include the acceptance of new products and technologies, the impact of competitive products and pricing, the timely development and release of products by suppliers and licensees of the Company, general business and economic conditions, particularly in Asia, and other risks detailed in the Company's Form 10K and Form 10Q statements filed with the SEC.
SOURCE SRS Labs, Inc.
/CONTACT: Jennifer Drescher of SRS Labs, Inc., 949-442-1070,
jenniferd@srslabs.com/
/Web site: us.deloitte.com
/Web site: srslabs.com
(SRSL)
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