PRESS RELEASE Of interest to editors and journalists covering: Investor News, DVD/Video News, Technology, Public Companies, Business News DVD Distributors Show Mixed Results Following Holiday Season RENO, NV - Jan 28, 2004 /Send2Press Newswire/ -- AXcess News (www.theaxcess.net) announced today that they have released a story covering the DVD distribution industry which focuses on both brand name companies and several niche players. Sony Corporation, still reeling from its restructuring, reported a 26% drop in net income for the latest quarter with DVD recorders showing gains as one of its bright spots in an otherwise dismal financial picture. Sony's revenue increased 0.7% thanks to aggressive launches of digital products while operating profit dropped 20%. Expenses related to job cuts were partly behind the lower profits, Sony said. Sony is in the middle of a major reform program, which includes slashing 20,000 jobs, or about 13% of its global work force, to reshape its operations and boost profitability. Navarre Corporation (NasdaqNM: NAVR) reported a 31% increase in sales for the third quarter and record earnings. The Minneapolis based DVD company's consolidated net sales weighed in at $153.0 million verses $117.0 million last year. Net income increased by approximately 20% to $3.6 million or $0.15 per share as compared to $3.0 million or $0.14 per share last year on a fully diluted basis. Navarre, which was featured in a story in December (See "DVD distributors expecting strong holiday sales" http://www.theaxcess.net/technology_04_1203.html) that highlighted several niche DVD distribution companies, had completed a $12 million dollar private placement to reduce debt in acquiring BCI Eclipse. NuTech Digital (OTC BB: NTDL), which was also featured in that story, announced its earnings for the 3rd quarter today giving the best performance overall with revenues of $956,000 and net earnings of $289,000, marking a turnaround in earnings of $1,207,000 since the fourth quarter of 2002 which reflected a loss of $918,000. Since AXcess News coverage last month, Navarre rose from $5.63 to see $6.85 last week before backing off to $6.26 at 3:11pm ET Wednesday. NuTech rose from $0.65 to weigh in at $1.08, with an impressive gain of $.43 or 66.1%. To read that story, go to: http://www.theaxcess.net About AXcess News Dubbed the "Yahoo! of small cap business news" by Gordon Borrell, one of America's leading media and research gurus, AXcess News is fast becoming a known commodity for both the serious investor and people in general looking for informed articles and insightful columns that appeal to a broad spectrum of readers. MEDIA CONTACT: Eric Stevenson Of AXcess News +1-775-882-1720 editor@theaxcess.net # # # [ source of news = AXcess News ] ref: http://www.send2press.com/2archive/2004/pr_04_0128-axcess.txt http://www.send2press.com/2archivePDF/pr_04_0128-axcess.pdf --------------------------------------------------------------------------- *IMPORTANT NOTE TO MEDIA: to reach the organization releasing this news, please contact: editor@theaxcess.net If used for publication, please send specimen copy. --------------------------------------------------------------------------- S2PPRN-N/4c/ NV / Reno, NV / Copr. (c) 2004 Send2Press. This release was issued on behalf of the above organization by Send2Press(tm), a unit of Neotrope(R). http://www.Send2Press.com .