Key Developments For New Frontier Media, Inc.
New Frontier Media, Inc. (NOOF.O) (Nasdaq)
Eolas Technologies Inc. Files Infringement Lawsuit Against New Frontier Media, Inc. And Others
Eolas Technologies Inc. announced a Texas federal lawsuit filed to assert the company's intellectual property rights based on two patents, including one that has passed two separate reexaminations at the United States Patent and Trademark Office (USPTO) and resulted in a $565 million federal court judgment in 2004. The lawsuit, filed in the U.S. District Court for the Eastern District of Texas, includes claims related to two Eolas patents, U.S. Patent No. 5,838,906 (906 Patent) and U.S. Patent No. 7,599,985 (985 Patent). The companies named as defendants include Adobe Systems, Amazon.com; Apple Inc.; Argosy Publishing Inc.; Blockbuster Inc. ; CDW Corp.; Citigroup Inc.; eBay Inc.; Frito-Lay Inc. (a subsidiary of Purchase, PepsiCo Inc.); The Go Daddy Group Inc.; Google Inc.; J.C. Penney Co. Inc.; JPMorgan Chase & Co.; New Frontier Media Inc.; Office Depot Inc.; Perot Systems Corp.; Playboy Enterprises International Inc.; Rent-A-Center, Inc.; Staples, Inc.; Sun Microsystems Inc.; Texas Instruments ; Yahoo! Inc.; and YouTube LLC, a subsidiary of Google Inc.
New Frontier Media, Inc. Announces New Stock Repurchase Program
New Frontier Media, Inc. announced that it has authorized a new program for the repurchase of up to 1,000,000 shares, or approximately 5%, of the Company's outstanding common stock, over the next 31 months. The new program will be conducted in a manner intended to comply with the safe harbor provisions of Rule 10b-18 promulgated under the Securities Exchange Act of 1934, as amended, and to minimize the impact of the purchases upon the market for the securities. The repurchase program is subject to the insider trading window periods imposed by the Company's trading policy, and may be suspended or terminated at any time by the Company's Board of Directors without prior notice. Under the program, the Company may, but are not required to, purchase shares of the Company's common stock from time to time through open market or privately negotiated transactions, as market and business conditions permit.
New Frontier Media, Inc. Comments On FY 2010 Guidance-Conference Call
New Frontier Media, Inc. announced that it is cautiously optimistic about fiscal 2010 and believe that it can grow revenue and net income despite a very challenging economic environment.
New Frontier Media, Inc. Announces Share Repurchase Transaction
New Frontier Media, Inc. announced that it signed after the market closed on November 13, 2008 an agreement to repurchase in a privately negotiated transaction all of the 2.6 million shares of common stock owned by one of its shareholders at a price of $1.55 per share. Since 2006, the Company has repurchased approximately 4.6 million shares of its common stock and now has approximately 20 million shares outstanding.
New Frontier Media, Inc. Comments On FY 2009 Guidance
New Frontier Media, Inc. announced that it continue to execute on growth strategies for core businesses and expect to see both segment and consolidated top-line revenue growth in this fiscal year. According to Reuters Estimates, analysts were expecting the Company to report revenue of $59 million in fiscal 2009.
