MORRISTOWN, N.J. - Access Integrated Technologies, Inc. ("AccessIT" or the "Company") (NASDAQ: AIXD) reported a 12% increase in revenues, to $21.8 million for the fiscal 2009 second quarter ended September 30, 2008, versus the year-ago period. The Company posted an Adjusted EBITDA (defined below) of $10.9 million or $0.40 per share, an improvement from both the fiscal 2008 second quarter of $6.9 million and the fiscal 2009 June quarter of $10.2 million. Net loss of $6.3 million or $0.23 per share was also an improvement from the year-ago quarter of $9.3 million or $0.37 per share respectively. The net loss includes non-cash expenses for depreciation, amortization of intangible assets, non-cash interest, stock-based expenses and stock-based compensation aggregating $10.3 million or $0.37 per share.

Second Fiscal Quarter Highlights:

• Revenues for the second quarter increased by 12%, to $21.8 million from $19.5 million in the comparable year-ago-period. This increase was driven largely by a 31% gain in the media services segment, including Virtual Print Fees ("VPFs") and record levels of media delivery fees in our satellite unit offset by a 19% decrease in our content and entertainment segment. Quarter-over-quarter, revenues increased by 6%, from $20.6 million mainly due to increases in VPF revenue and satellite delivery revenue.
• Income From Operations in the September 2008 quarter improved to $1.5 million, from a loss of $1.3 million in the comparable year-ago-period and income of $0.7 million in the June 2008 quarter, resulting from increased revenues offset by increased direct operating expenses and reduced SG&A. Year-over-year, the shift to income from operations was due primarily to higher revenues and decreased direct operating and SG&A expenses, partially offset by increased depreciation.
• Gross Profit Margin (revenue less direct operating expenses) was more than 69% in this second quarter, a slight improvement over last fiscal year's overall 67%.
• Adjusted EBITDA margins improved to 50% in the September 2008 quarter from 35% in the comparable year ago period, and from 49% in the June 2008 quarter.

Bud Mayo, Chief Executive Officer of AccessIT, stated, "Despite the challenged economy and no new digital cinema system installations, AccessIT's revenues and EBITDA margins continue to improve. We are clear about our business plan, and the strategies we will employ while the credit markets are dormant, including: signing up exhibitors to our Master License Agreements and proceeding with site preparation in their locations, signing more movie distributors to VPF agreements, and completing Supply Agreements with all major hardware vendors to ensure competitive pricing and continuous supply. These efforts will enable AccessIT to move forward quickly as the interim financing we are seeking and the financing we anticipate upon the return of the credit markets begins to flow."

* Adjusted EBITDA is defined by the Company to be earnings before interest, taxes, depreciation and amortization, other income (expense), net, stock-based compensation and non-recurring items. Pursuant to the requirements of Regulation G, the Company has provided a reconciliation in the tables attached to this release of Adjusted EBITDA to U.S. GAAP net income (loss). The Company calculated and communicated Adjusted EBITDA in the tables because the Company's management believes it is of importance to investors and lenders by providing additional information with respect to the performance of its fundamental business activities. The Company's calculation of Adjusted EBITDA may or may not be consistent with the calculation of this measure by other companies in the same industry. Investors should not view Adjusted EBITDA as an alternative to the U.S. GAAP operating measure of net income (loss). In addition, Adjusted EBITDA does not take into account changes in certain assets and liabilities as well as interest and income taxes that can affect cash flows. Management does not intend the presentation of these non-GAAP measures to be considered in isolation or as a substitute for results prepared in accordance with U.S. GAAP. These non-GAAP measures should be read only in conjunction with the Company's consolidated financial statements prepared in accordance with U.S. GAAP.

Read more

New York, N.Y. - Screenvision, a leading cinema advertising sales, services and content distribution company, announced today the promotion of Loren Venturi-Miller to senior vice president, national and regional sales. In her new position, Venturi-Miller will be responsible for the strategic direction of the company’s national and regional sales efforts and will oversee the respective sales teams. She will continue to report directly to Michael Chico, executive vice president, sales and marketing.

Screenvision’s cinema advertising network is comprised of more than 14,500 screens across 2,300 theatres nationwide and reaches 92 percent of U.S. DMAs.

Venturi-Miller joined Screenvision in 1998 as director of national sales for cinema promotions. In 2004, she was promoted to vice president, partnership sales, where she was instrumental in developing strategic relationships with such accounts as Verizon Wireless, Army National Guard, Wal-Mart and American Express. Prior to Screenvision, Venturi-Miller held executive marketing and sales positions with Hachette Fillipachi Publishing.

“Loren has been integral in helping Screenvision further its capabilities and becoming a true innovator in the cinema space. In promoting Loren, we have strengthened our sales team and put ourselves in a position to further maximize the company’s success with current and potential advertisers,” said Michael Chico.

Read more

MORRISTOWN, N.J. - Building on the success of the Phase 1 Christie/AIX Digital Cinema deployment plan, Access Integrated Technologies, Inc. ("AccessIT") and Christie Digital Systems USA, Inc. (Christie) announced today the signing of a Supply Agreement to bring Digital Cinema Systems including Christie projectors to theatres in the United States and Canada. Christie will provide up to 5,000 projectors for the previously announced AccessIT Phase 2 Digital Cinema Deployment Plan.

As in the Phase 1 Plan, Christie will again provide turn-key digital systems featuring its full line-up of DLP Cinema® projectors including the Christie CP2000-SB, Christie CP2000-XB, Christie CP2000-ZX and the latest Christie CP2000-M model for screens up to 35 feet wide. All models now feature the latest industry advancement, Christie Brilliant3DTM technology, providing 33% more brightness in full 2K resolution for 3D content.

“In Phase 1, AccessIT and Christie made digital cinema a reality. Together we completed the conversion of more than 3,700 screens. In Phase 2, AccessIT is aiming even higher with a goal of installing 10,000 screens over the coming three years. It just makes sense to continue working with the company with whom we’ve shared tremendous success. We’re looking forward to seeing the installations begin and we know that Christie will be an important asset to our Phase 2 objectives,” said Bud Mayo, chairman and CEO of AccessIT.

"Together with AccessIT, we've had three successful years in digital cinema leading the transformation in the industry with the first network technology and business model," commented Jack Kline, president & COO, Christie Digital Systems USA, Inc. "Now, we're entering a new phase that will see rapid change in the landscape of commercial cinema and we're excited about the opportunities ahead. Our years of experience working together on the first large scale deployment has created a solid foundation for reliability and enhanced operational efficiency for exhibitors."

“Over the last three years that AccessIT and Christie have worked together we’ve provided an effective technology and operational foundation for our 15 exhibitor partners including turnkey installation and an ongoing maintenance program from Christie’s industry-leading Managed Services division,” said Chuck Goldwater, President of AccessIT’s Media Services Group. “That foundation has made possible the benefits of digital cinema for distributors and exhibitors by enabling the growing businesses of 3D movies and alternative content programming including live 2D and 3D events. We are pleased to continue our successful working partnership with Jack Kline, Craig Sholder, Sean James and the entire Christie team in their Cypress, CA and Kitchener, Ontario facilities.”

AccessIT’s Digital Cinema is the industry-leading deployment program for Digital Cinema that provides the funding, installation support and administration for the company's studio-supported Digital Cinema rollout plans. Its Phase 2 plan for up to an additional 10,000 screens will provide networked, turnkey, Digital Cinema systems in conformance with DCI specifications, including AccessIT’s unique Library Management Server® and Theatre Command Center® software. The system will also include digital projectors and JPEG 2000 media servers from a variety of vendors whose equipment is designed to meet the DCI specifications as well as a demanding set of performance and reliability requirements AccessIT developed through its success with the Phase 1 plan.

Read more

LOS ANGELES — Leveraging the power of its nationally diverse user base of entertainment consumers, MovieTickets.com, the world’s most powerful Internet movie ticketing service, recently debuted a new service that offers movie marketers actionable data regarding decision-making influences and future movie-going intent.

For the first time, movie-marketing professionals are able to identify key purchase drivers at the point of sale across various film titles and demographic segments. Collecting this information at the time of ticketing enables marketers to hear moviegoers’ valuable first-hand assessments of the impact of marketing stimuli on their purchase decisions.

In addition, the service tracks moviegoers’ awareness, interest, and attendance expectations for movies up to six weeks prior to release. As such, this information allows marketers to assess the real-time effectiveness of a movie marketing campaign.

The Internet has become a standard tool used by moviegoers in connection with movie selection and ticketing. The MPAA reports that 73 percent of U.S. moviegoers who seek out movie information before seeing a film in the theater use the Internet to conduct such research. Additionally, moviegoers who research online are more likely to see a movie on opening weekend, go to the theater more often, and see some movies more than once in the theater.

“Every week, MovieTickets.com’s finger is on the pulse of a nationally representative sampling of moviegoers that set box office trends into motion. As such, we can provide valuable, actionable information for studios and agencies to use to connect with their target audiences as effectively as possible,” said Gary Hiller, President of MovieTickets.com’s Research and Analytics Division. “Our unparalleled ability to survey moviegoers from across the country at key points in time both before and after seeing a film cannot be replicated using traditional, in-person, research methodologies.”

Read more

By Amy Nicholson

Some recent big news in 3D technology has been the ascendance of RealD projection, a digital format that allows viewers to shed those goofy red and blue glasses for a slick pair of black shades. Following the debut RealD feature Chicken Little in 2005, which was released in 3D on only 100 screens (each of which earned two and a half times more revenue than theaters with flat projection), the technology has seen a marked uptick with this year heralding several RealD features including Journey to the Center of the Earth, the concert films for Hannah Montana and U2, and the upcoming Disney cartoon Bolt.

Now, RealD has joined forces with Iosono, a 3D sound system that pledges to give audiences a dimensional auditory experience that surround sound can't match. The goal is to create what the company calls an "audio hologram," where every seat in the theater is enveloped by the same sound. Iosono's method is based on wave field synthesis. The theater is circled with what looks like a rollercoaster track made of individual speakers. Each speaker is virtually connected to a digital workstation for a simple set up that avoid a snarl of audio cables and wires. At a presentation at the Mann's Chinese in Hollywood, 380 speakers hugged the walls of the theater. The first simulations were sound-only demonstrations, undermined by the crackling of potato chip bags from the lunch boxes handed out at the entrance. During a jungle sequence, the sound of thunder rumbled up from the front left corner while birds and insects seemed to fly right overhead. The audience was cautioned to pay attention to the noise of water drops, which was so specific in location that it felt as though one would know exactly where to look for the puddles. Next, moderator Tanya Johnston, Iosono's VP of Business Development showed how with only the movements of a computer mouse, the sound of a gibbering ghost could sweep through the audience, its whispers passing through every seat going "in the ear, through the head, and out," described Johnston.

Later demonstrations paired the Iosono system with visual clips. First, the presenters played a clip from the 2004 Japanese feature-length cartoon Steam Boy using the theater's original 5.1 system, which sounded flatter and clumsier than usual. The brief reel showed the film's climax, a crescendo of explosions and shattering glass over an orchestral score. When played again in a remastered Iosono version, the sound wasn't astoundingly different, but if one concentrated, the broken glass seemed to sprinkle over the audience's head and the individual instruments in the symphony were more pronounced. Steam Boy's sound mixer J. Stanley Johnstone (no relation to Ms. Johnstone) spoke about the relative simplicity of adapting standard audio mixes to Iosono's technology, and then said that just as 3D films have advanced past the gimmickry of pop out surprises like the decapitated fish in Jaws III, he anticipates 3D sound will also evolve to be as lush and realistic as life. For the day's demonstrations, however, Iosono and RealD were limited to more jarring and cartoonish uses of their potentially game-changing technology. Their closer -- a drag race sequence from the Japanese anime Freedom -- combined 3D sight and sound, but was so raucous that the audio and visual precision of the earlier demonstrations was lost in the choppy editing, unrestrained laser beams, and throttling car engines.

Read more

Subscribe to Articles Feed