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Small Cap News
Business News Articles from eNewsChannels™
Edited for Send2Press by Carly Zander
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.
• Previous News from AXcess News
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