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This topic comprises 3 pages: 1 2 3
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Author
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Topic: DTS to sell off pro cinema division
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Steven J Hart
Master Film Handler
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Posts: 282
From: WALES, ND, USA
Registered: Mar 2004
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posted 02-23-2007 07:31 AM
This article is from http://www.twice.com/article/CA6418078.html?nid=2402 I wonder what this might mean for those of us using DTS in our theaters?
quote: Agoura Hills, Calif. %u2014 Surround sound technologies developer DTS said it has received the approval of its board of directors to sell its professional cinema and digital images business in order to focus exclusively on electronic components, including licensing branded entertainment technology to the large and evolving audio, game console, PC, portable and broadcast markets.
The cinema and digital images business, which is now known as %u201CDTS Digital Cinema,%u201D will be located in Burbank, Calif., where it will %u201Cfocus on the potentially large and emerging market for digital cinema products and services,%u201D the company said.
DTS stated that it expects the sales process to be completed %u201Clater in 2007.%u201D
At the same time, the company released its fourth-quarter and fiscal year financial results for the period that ended Dec. 31, 2006.
The company reported a $5 million net loss on revenues of $12.7 million for the fourth quarter, resulting primarily from restructuring costs and stock based compensation expenses. That is a drop from the net profit of $1.4 million on revenues of $13 million for the fourth quarter of 2005.
The quarter included $1 million in stock-based compensation expenses, and $3.8 million in restructuring costs.
For the full year, the company reported that net income dropped 61 percent to $3 million on revenues of $59 million, from $7.9 million on revenues of $57 million for the 2005 fiscal year.
The company said full-year results were affected by $3.6 million in stock-based compensation expenses, $3 million in restructuring costs to buy out a commission agreement for licensing intellectual property in the China market, and $1.1 million in non-deductible costs related to the separation of the DTS Digital Cinema business.
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Dustin Mitchell
Phenomenal Film Handler
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Posts: 1865
From: Mondovi, WI, USA
Registered: Mar 2000
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posted 02-26-2007 09:23 PM
Carmike hoards things. If things are well organized they will end up in Carmike's warehouse in Georgia, where presumably they have a great deal of old equipment. More likely they will sit at the theatres in limbo.
When 6 more screen were added to my theatre in 1997 (making it 12 total) the original 6 auditoriums were upgraded to Smart Mod IIC processors with DTS-6D's. The original sound racks-processors, amps, and all, are still sitting on the floor in the booth. Well, three of them are, the other three were presumabely sent somewhere, proof I guess that some of the old equipment gets used. But I think they were sent off right away, the other three have been sitting there for 10 years. In the other booth we have a whole wall full of surround speakers and stage speakers that came from a closed theatre during the bankruptcy in 2000. We have had several offers from local people (musicians/etc) to buy some of them. All have been refused. In the 6 1/2 years those speakers have been here we have shipped a total of two to other theatres.
There is much more, I could go on. I have three DTS players still in service, with three just sitting around. I did part out one of the spare units back in July and it is now missing all of its drives, but otherwise it works just fine.
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