Roxio Sets Date For Fiscal Fourth Quarter Results; Ends Quarter With Approximately $67 Million In Cash
Santa Clara, California - (April 14, 2004) - Roxio®, a division of Sonic Solutions® (NASDAQ: SNIC), the leader in digital media software, announced today that it will report financial results for its fiscal fourth quarter on Wednesday, May 5, 2004 after the close of market.
"Roxio and Napster performed well during the quarter. We achieved our major objectives for the software division with the timely and successful launch of Easy Media Creator 7 and that division's return to positive operating margins. Napster continues to make strong progress and our cash, cash equivalents and short-term investments position as of March 31, 2004 was approximately $67 million, reflecting a continued sharp focus on expenses and the success of our recent equity fundraising and credit line," said Chris Gorog, president and CEO.
The company will host a conference call for analysts and investors at 1:30 p.m. PT (4:30 p.m. ET). Participating on the call will be Chris Gorog and chief financial officer Nand Gangwani. To participate on the live call, analysts and investors should dial 800-374-1636 at least ten minutes prior to the call. Roxio will also offer a live webcast of the conference call, accessible from the "Investor Relations" section of the company’s Web site (http://investor.roxio.com). A telephonic replay of the conference call will also be available for 48 hours by dialing 800-642-1687 and enter passcode 6442030#.
Roxio, a division of Sonic Solutions, develops and markets the best-selling digital media software in the world. Roxio offers award-winning software products for CD/DVD burning, photo editing and video editing and has an installed base of over 150 million users. Roxio distributes its products globally through strategic partnerships with major hardware manufacturers, through leading retailers, through Internet partnerships and through direct sales at www.roxio.com. Roxio's parent company, Sonic Solutions (NASDAQ: SNIC; http://www.sonic.com) is the leader in digital media software and provides a broad range of software tools and applications for creative professionals, business and home users and technology partners. Sonic's products range from professional DVD authoring systems and interactive content delivery technologies that are used to produce the majority of Hollywood movies released on DVD, to the award-winning Roxio- and Sonic-branded CD and DVD creation, playback and backup applications that have become the premiere solutions for consumers and business users worldwide. Sonic's AuthorScript® is the de facto standard for CD and DVD burning and formatting and has been licensed by major software and hardware manufacturers, including Adobe, Broadcom, Microsoft, Scientific-Atlanta, Sony, and many others. Sonic Solutions is headquartered in Marin County, California.
Safe Harbor Statement
Except for historical information, the matters discussed in this press release, in particular matters related to operating margins for the software division, the progress of the Napster division, and Roxio's business relationships with software distributors and content providers, are forward-looking statements that are subject to certain risks and uncertainties such as slow growth in demand for online music distribution generally and for the Napster service in particular, intense competition in the software and online music distribution industries, failure to maintain key corporate relationships, and general economic conditions that could cause actual results to differ materially from those projected. Additional information on these and other factors are contained in Roxio's reports filed with the Securities and Exchange Commission (SEC), including the Company's Quarterly Report on Form 10-Q as filed with the SEC on February 17, 2004, copies of which are available at the website maintained by the SEC at http://www.sec.gov. Roxio assumes no obligation to update the forward-looking statements included in this press release.
Sonic, the Sonic logo, Sonic Solutions, Roxio, MyDVD, CineMagic, Plug & Burn, LiveShare, Roxio Easy Media Creator, and AuthorScript are trademarks or registered trademarks of Sonic Solutions or its subsidiaries in the United States and/or other countries. Dolby is a trademark of Dolby Laboratories. All other company or product names are trademarks of their respective owners and, in some cases, are used by Sonic Solutions under license. Specifications, pricing and delivery schedules are subject to change without notice.