Key Developments For Sonic Solutions
Sonic Solutions (SNIC.O) (Nasdaq)
Sonic Solutions And Entone, Inc. Deliver Digital Entertainment Services to Telco Operators
Sonic Solutions and Entone, Inc. announced they are partnering to provide telecommunications operators a comprehensive entertainment solution that combines live broadcast TV and DVR capabilities with instant access to OTT (over-the-top) entertainment powered by Roxio CinemaNow.
Sonic Solutions Issues Q3 2010 Guidance; EBITDA Guidance Above Analysts' Estimates; Comments On Q4 2010 EBITDA Guidance
Sonic Solutions announced that for third quarter of 2010, the Company anticipates net revenue of at least $25.0 million and adjusted EBITDA loss of approximately $1.0 million and positive adjusted EBITDA in the upcoming fourth quarter of 2010. According to Reuters Estimates, analysts were expecting the Company to report revenues of $25.9 million and EBITDA of $0.25 million for fiscal 2009; EBITDA of $1.41 million for fourth quarter of 2009.
Best Buy Co., Inc. Forms Strategic Relationship With Sonic Solutions
Best Buy Co., Inc. and Sonic Solutions announced a strategic relationship that will result in a new Best Buy customer offering in its line-up of digital entertainment products. The new on-demand movie and entertainment service will be powered by Sonic's Roxio CinemaNow and will allow consumers to have access to buy or rent a vast library of premium content. To power this offering, Best Buy has entered into a multi-year agreement in which Best Buy plans to license and deploy Sonic's Roxio CinemaNow technology and services platform to make on-demand digital content delivery a standard feature on connected consumer electronics devices sold throughout U.S. Best Buy retail stores and BestBuy.com. Under the terms of the agreement, Best Buy acquired warrants enabling it to purchase shares of Sonic Solutions common stock.
Funai Electric Selects Sonic Solutions For Digital Entertainment Delivery
Sonic Solutions announced it will provide access to its Roxio CinemaNow movie service across a range of soon-to-be-released connected TVs and Blu-ray Disc Players by major Japanese consumer electronics manufacturer Funai Electric Co., Ltd. As part of a worldwide agreement, Sonic's Roxio CinemaNow will enable digital delivery of a vast library of entertainment* to the living room on an assortment of Sylvania, Philips, Magnavox, and Emerson-branded HDTVs and Blu-ray Disc (BD) players, which are all manufactured by Funai.
Sonic Solutions Issues Mixed Q2 2010 Outlook; Comments On Q3, Q4 2010 EBITDA Outlook
Sonic Solutions announced that for the second quarter of 2010, it expects net revenue to be flat sequentially with the first quarter, and adjusted EBITDA to be approximately negative $1 million. The Company continues to expect to generate positive adjusted EBITDA in the upcoming third and fourth quarters of 2010. The Company reported revenue of $25.53 million in the first quarter of 2010. According to Reuters Estimates, analysts on an average were expecting the Company to report EBITDA of negative $0.10 million on revenue of $24.74 million for the second quarter of 2010; EBITDA of $0.64 million and $1.51 million for the third and fourth quarters of 2010.
