Acquires Midbar Tech
Ltd.
SANTA CLARA, Calif., November 4, 2002--Macrovision Corporation
(Nasdaq:MVSN), the world's leading developer and vendor of digital
rights management ("DRM") and copy protection technologies, announced
today that it has agreed to acquire the assets and operations
of Midbar Tech (1998) Ltd. in a cash transaction. Midbar, a privately
owned developer of copy control technologies for the music industry,
is based in Tel Aviv, Israel. The transaction will enable Macrovision
to provide a complete family of products and services that preserve
consumers' music listening experience while providing the controls
to enable artists and music labels to be fairly compensated for
their creative works.
Macrovision also announced that it has signed a definitive agreement
with TTR Technologies, Inc. (Nasdaq:TTRE) to acquire TTR's music
copy protection and DRM assets and to terminate an Alliance Agreement
between the two companies. The closing of each transaction is
subject to regulatory and shareholder approvals and the fulfillment
of certain other closing conditions by each party.
"Midbar is an ideal strategic and cultural fit with Macrovision,"
said Macrovision's president and CEO Bill Krepick. "Midbar's core
technologies complement our existing offerings, and this combination
will allow us to develop a 'best-of-breed' solution for music
consumers, labels and artists. Moreover, both of our firms have
emphasized research and development activities to generate breakthrough
intellectual property ('IP') management solutions that enable
music labels to offer consumers more robust and varied means of
enjoying their music. The combined technical expertise and operational
resources of both firms -- in addition to the additional technology
and intellectual property acquired from TTR -- will allow Macrovision
to shorten the development time required to bring a complete solution
to the music space that serves the needs of all constituents."
"It's no exaggeration to say that the global music industry
is at a digital crossroads," said Brian McPhail, vice president
and general manager of Macrovision's Consumer Software Division.
"It's imperative that standardized IP management technologies
emerge for the music industry to guard the digital rights of content
creators while allowing consumers the freedom to enjoy music with
ease and convenience. These transactions will enable Macrovision
to deliver a widely accepted, highly flexible, and deployable
suite of IP management solutions that meet the needs of all the
constituents of the music industry--from artists to consumers."
The combined Macrovision and Midbar development staffs will,
over the next several months, develop a best-of-breed solution
by integrating Macrovision's SafeAudio(TM) and SafeAuthenticate(TM)
solutions with Midbar's CDS 100(TM) and CDS 200(TM) products.
As part of that integrated solution suite, the combined development
team will complete the advanced R&D projects that they are currently
working on to facilitate controlled CD-burning technology and
the controlled export of music files to consumer electronic devices.
Midbar's CDS 100 and CDS 200 copy protection technology has, to
date, been deployed on more than 45 million audio CDs, with particularly
widespread usage in the Asian and European markets. Midbar's acquired
assets also include three issued U.S. patents, and five U.S. patents
pending.
The TTR assets to be acquired include three issued and eight
pending U.S. patents, and a number of international patent applications,
in the areas of optical media copy protection. The termination
of the Macrovision-TTR Alliance Agreement will terminate copy
protection revenue-sharing arrangement between the two companies.
Macrovision will hold an investor conference call on November
5, 2002 at 2 p.m. PT (5 p.m. ET). Investors and analysts interested
in participating in the conference are welcome to call 800/240-6709
(or international +1 303-262-2190) and reference the Macrovision
call.
Investors and analysts interested in listening to the conference
replay are welcome to call 800/405-2236 (or international +1 303/590-3000)
and enter passcode 507059#. Access to the replay is available
from 11/5/2002 4:00 p.m. PST through 11/6/2002 11:59 p.m. PST.
The conference call script will be posted on the Company's website
approximately 48 hours following the call and will be posted for
30 days.
About Macrovision
Macrovision develops and markets digital rights management ("DRM"),
copy protection, and electronic license management technologies
for the consumer software, enterprise software, home video and
music industries. Macrovision holds a total of 133 issued or pending
United States patents and 832 issued or pending international
patents, and continues to increase its patent portfolio with new
and innovative technologies in related fields. Macrovision has
its corporate headquarters in Santa Clara, Calif., with European
headquarters in London and Asia-Pacific headquarters in Tokyo.
This press release contains "forward-looking" statements as
that term is defined in the Private Securities Litigation Reform
Act of 1995, including the quotations attributed to Messrs. Krepick
and McPhail regarding the expected benefits and synergies of the
transactions. A number of factors could cause Macrovision's actual
results to differ from anticipated results expressed in such forward-looking
statements, including: the receipt and timing of regulatory and
shareholder approvals for the transactions; the possibility that
the transactions cannot be completed; the ability of Macrovision
to integrate operations and personnel effectively and efficiently;
the contributions of the companies' intellectual property to Macrovision's
business strategy; the effect of the transactions on the customers
and other business partners of the companies; and the timely development
and market acceptance of new and updated products. Other factors
are addressed in Macrovision's filings with the Securities and
Exchange Commission (available at www.sec.gov). Macrovision assumes
no obligation to update any forward-looking statements.
Macrovision, SafeAudio, and SafeAuthenticate are registered
trademarks or trademarks of Macrovision Corporation. Midbar, CDS100
and CDS200 are registered trademarks or trademarks of Midbar Technology,
Ltd. and will revert to Macrovision Corporation upon the close
of the Midbar acquisition transaction.
Return to headlines
Reports Third Quarter
Net Revenues and Earnings
SANTA CLARA, Calif., October 28, 2002--Macrovision Corporation
(Nasdaq:MVSN) announced today that third quarter 2002 net revenues
were $23.5 million, compared with $23.0 million in the third quarter
of 2001, an increase of 2%. Pro forma earnings (before amortization
of intangibles from acquisitions, non-cash deferred compensation
expense and impairment losses on investments) were $7.7 million,
compared with $10.6 million recorded in last year's third quarter,
a decrease of 27%. Pro forma diluted earnings per share for the
quarter were $0.15, or 25% below the prior quarter a year ago.
Net income for the third quarter of 2002 was $1.6 million, compared
with $6.4 million in the third quarter of 2001. Diluted earnings
per share for the quarter were $0.03.
Cash and cash equivalents, short-term investments and long-term
marketable securities were $216.1 million as of September 30,
2002.
The Company has now repurchased 3 million shares of stock at
an average price of $12.79.
"Given continuing difficult economic conditions, we are pleased
with our third quarter results," said Ian Halifax, CFO at Macrovision.
"Our revenues benefited from continued growth in our DVD business,
and modest growth in our Enterprise Software Division. The third
quarter was important to us for a number of reasons, notably the
announcement of our agreement with Intuit to license our SafeCast(R)
digital rights management technology, Nokia's adoption of FLEXlm(R)
for its future releases of network management and VPN products
and the announcement of our strategic partnership with Websense
to prevent unauthorized digital content in the workplace. We remain
comfortable with analyst estimates for the fourth quarter, with
revenues of $26M-$28M, and pro forma EPS of $0.18 - $0.19."
Immediately following the Q3 earnings release, Macrovision will
hold an investor conference call on October 28, from 2 p.m. to
3 p.m. PST (5 p.m. to 6 p.m. EST). Investors and analysts interested
in participating in the conference are welcome to call 800-257-7063
(or international +1 303-262-0068) and reference the Macrovision
call.
The Q3 earnings conference call can also be accessed via live
webcast at www.macrovision.com or www.companyboardroom.com (or
www.streetevents.com for subscribers) on October 28 at 2 p.m.
PST (5 p.m. EST). Approximately 2 hours after the live webcast
ends, the on-demand webcast of Macrovision's Q3 earnings conference
call can be accessed until November 4, 2002.
Investors and analysts interested in listening to a recording
of the conference are welcome to call 800-405-2236 (or international
+1 303-590-3010) and enter passcode 503585#. Access to the replay
is available through October 29, 2002. The conference call script
will be posted on the Company's website approximately 48 hours
following the call and will be posted for 30 days.
About Macrovision
Macrovision develops and markets copy protection, digital rights
management ("DRM") and electronic license management technologies
for the home video, consumer interactive software, enterprise
software and music markets. Macrovision has its corporate headquarters
in Santa Clara, California, with European headquarters in London
and Asia-Pacific headquarters in Tokyo.
-- The Video Technology Division provides technologies that
are used by motion picture studios, cable and satellite TV operators,
consumer electronics companies, and personal computer manufacturers
to prevent the unauthorized duplication, reception or use of copyrighted
video materials. Over 900 million DVDs, over 3 billion videocassettes,
and over 80 million digital set-top boxes have utilized Macrovision's
video copy protection technologies.
-- The Consumer Software Division provides an integrated suite
of tools that enable developers and publishers to protect, distribute,
and promote their products securely and effectively, with built-in
support for a wide range of robust business models.
-- The Enterprise Software Division provides FLEXlm electronic
license management ("ELM") and GTlicensing(TM) electronic license
distribution ("ELD") solutions to independent software vendors
("ISVs"), as well as SAMsuite(TM) software asset management tools
for business applications. These products are in use by over 2,500
ISV customers and over 500 large enterprise end-users throughout
the world. For more information on Enterprise Software products,
go to www.globetrotter.com.
Macrovision, Globetrotter, FLEXlm, GTlicensing, SAMsuite, and
SafeCast are registered trademarks or trademarks of Macrovision
Corporation.
All statements contained herein, including the quotations attributed
to Mr. Halifax, as well as oral statements that may be made by
the Company or by officers, directors or employees of the Company
acting on the Company's behalf, that are not statements of historical
fact, including statements that use the words "will," "believes,"
"anticipates," "estimates," "expects," "intends" or "looking to
the future" or similar words that describe the Company's or its
management's future plans, objectives, or goals, are "forward-looking
statements" and are made pursuant to the Safe-Harbor provisions
of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements include the business strategies and
product plans of the Company and the features and benefits of
the products of the Company.
Such forward-looking statements involve known and unknown risks,
uncertainties and other factors that could cause the actual results
of the Company to be materially different from the historical
results and/or from any future results or outcomes expressed or
implied by such forward-looking statements. Among the important
factors that could cause results to differ materially are the
following: the failure of markets for home video to develop or
expand, and the failure of the Company's products to achieve or
sustain market acceptance or to meet, or continue to meet, the
changing demands of content or software providers. Other factors
include those outlined in the Company's Annual Report on Form
10-K for 2001, its Quarterly Reports on Form 10-Q, and such other
documents as are filed with the Securities and Exchange Commission
from time to time. These factors may not constitute all factors
that could cause actual results to differ materially from those
discussed in any forward-looking statement. The Company operates
in a continually changing business environment and new factors
emerge from time to time. The Company cannot predict such factors,
nor can it assess the impact, if any, of such factors on the Company
or its results. Accordingly, forward-looking statements should
not be relied upon as a prediction of actual results. The Company
is not obligated to revise or update any forward-looking statements
in order to reflect events or circumstances that may arise after
the date of this release.
Return to headlines
Announces Verance's
Dismissal of Litigation
SANTA CLARA, Calif., October 1, 2002--Macrovision Corporation
(Nasdaq:MVSN), a world leader in content protection and digital
rights management (DRM) technologies, announced today the dismissal
of all Verance Corporation's claims against Macrovision as a 3rd
party defendant alleging patent infringement and antitrust violations
related to Macrovision's activities as a member of the Video Watermarking
(VWM) Companies.
"We believed all along this case would be successfully resolved.
In addition, we find it very positive that Verance has concurrently
reached a settlement and licensing agreement with Digimarc so
they may focus on furthering the deployment of their audio watermarking
products and related services," said Bill Krepick, Macrovision
president and CEO. "With the dismissal of this litigation, Macrovision
can focus its efforts more directly on providing the best-of-breed
digital video watermarking solutions to the entertainment industry
to prevent unauthorized use of copyrighted video content, and
to accelerate the adoption of digital watermarking technology
in commercial applications."
About Macrovision
Macrovision develops and markets copy protection, digital rights
management and electronic license management technologies for
the home video, consumer software, enterprise software and music
markets. Headquartered in Santa Clara, Calif., with international
headquarters in London and Tokyo.
This press release may contain "forward-looking" statements
as that term is defined in the Private Securities Litigation Reform
Act of 1995. A number of factors could cause Macrovision's actual
results to differ from anticipated results expressed in such forward-looking
statements. Such factors are addressed in Macrovision's filings
with the Securities and Exchange Commission (available at http://www.sec.gov).
Macrovision assumes no obligation to update any forward-looking
statements.
Return to headlines
Reports Second Quarter
Net Revenues and Earnings
SANTA CLARA, Calif., July 29, 2002--Macrovision Corporation (Nasdaq:MVSN)
announced today that second quarter 2002 net revenues were $24.9
million, compared with $25.8 million in the second quarter of
2001, a decrease of 3%. Pro forma earnings (before amortization
of intangibles from acquisitions, non-cash deferred compensation
expense and impairment losses on investments) were $9.0 million,
compared with $10.4 million recorded in last year's second quarter,
a decrease of 14%. Pro forma diluted earnings per share for the
quarter were $0.18, or 10% below the prior quarter a year ago.
Net income (including amortization of intangibles from acquisitions,
non-cash deferred compensation expense and impairment losses on
investments) for the second quarter of 2002 was $6.6 million,
compared with $5.1 million in the second quarter of 2001, an increase
of 30%. Diluted earnings per share for the quarter were $0.13,
or 30% higher than the $0.10 reported in the prior quarter a year
ago.
Cash and cash equivalents, short-term investments and long-term
marketable securities were $240.9 million as of June 30, 2002.
Operating cash flow was $23.2 million for the quarter.
During the quarter the Company purchased 240,000 shares of stock
at an average price of approximately $14. There was no material
impact on second quarter results. The Company plans to continue
with its stock buy-back program in the coming quarter.
"Given very difficult economic conditions, we are pleased with
our second quarter results," said Ian Halifax, CFO at Macrovision.
"Our revenues benefited from continued strength in our DVD business,
and sequential growth in our Globetrotter Software Division. Our
balance sheet improved due to decreases in receivables and increased
deferred revenue. However, in spite of our solid first half performance
with strong operating margins and cash flows, we are concerned
about continued uncertainties in the economy, and we prefer to
remain cautious in our outlook. For the full year 2002, we estimate
relatively flat revenues of $95M-$98M, with pro forma EPS of $0.70-$0.73;
for the third quarter of 2002, we estimate revenues of $22M-$23M,
with pro forma EPS of $0.13-$0.14."
Bill Krepick, president and CEO at Macrovision added, "The second
quarter was important to us for a number of reasons, notably the
announcement of a video copy protection agreement with Warner
Home Video, the signing of our largest SafeCast(R) contract with
a consumer software customer, and the progress we made with our
SafeAudio(TM) and SafeAuthenticate(TM) products with major music
labels. Although we are giving conservative guidance for 2002,
we are forging ahead and investing in several areas of our business
where we see growth opportunities in 2003 and 2004."
Immediately following the Q2 earnings release, Macrovision will
hold an investor conference call on July 29, from 2:00 PM to 3:00
PM PDT (5:00PM to 6:00PM EDT). Investors and analysts interested
in participating in the conference are welcome to call 303-262-2193
and enter pass code 485422#.
The Q2 earnings conference call can also be accessed via live
webcast at www.macrovision.com or www.companyboardroom.com or
www.streetevents.com (for subscribers) on July 29 at 2:00 PM PDT
(5:00 PM EDT). Approximately 2 hours after the live webcast ends,
the on-demand webcast of Macrovision's Q2 earnings conference
call can be accessed until August 6, 2002.
Investors and analysts interested in listening to a recording
of the conference are welcome to call 800-405-2236 (or international
303-590-3000) and enter pass code 485422#. Access to the postview
conference is available from 4:00 PM PDT on 7/29/02 to 4:00 PM
PDT on 7/30/02. The conference call script will also be posted
on the Company's web site for 30 days.
About Macrovision
Macrovision develops and markets copy protection, rights management
and electronic license management technologies for the home video,
consumer interactive software, enterprise software and music markets.
Macrovision has its corporate headquarters in Santa Clara, California,
with European headquarters in London and Asia-Pacific headquarters
in Tokyo.
-- The Video Technology Division provides technologies that
are used by motion picture studios, cable and satellite TV operators,
consumer electronics companies, and personal computer manufacturers
to prevent the unauthorized duplication, reception or use of copyrighted
video materials. Over 900 million DVDs, over 3 billion videocassettes,
and over 85 million digital set top boxes have utilized Macrovision's
video copy protection technologies.
-- The Consumer Software Division provides an integrated suite
of tools that enable developers and publishers to protect, distribute,
and promote their products securely and effectively, with built-in
support for a wide range of robust business models.
-- The Globetrotter Software Division's electronic license management
(ELM) solutions for business software applications, led by FLEXlm(R),
and GTlicensing(TM) electronic license distribution (ELD) solutions,
have been licensed to over 2,500 ISVs (independent software vendors)
throughout the world. The Software Asset Management tools (SAMsolution(TM))
provided for Corporate users are also widely implemented by over
500 large enterprise end-users worldwide, and provide a range
of reporting facilities to both ISVs and the larger organizations
to track actual software application usage.
Macrovision, Globetrotter, FLEXlm, GTlicensing, SAMsolutions,
SafeAudio, SafeAuthenticate, SafeDisc, and SafeCast are registered
trademarks or trademarks of Macrovision Corporation.
All statements contained herein, including the quotations attributed
to Mr. Halifax and Mr. Krepick, as well as oral statements that
may be made by the Company or by officers, directors or employees
of the Company acting on the Company's behalf, that are not statements
of historical fact, including statements that use the words "will,"
"believes," "anticipates," "estimates," "expects," "intends" or
"looking to the future" or similar words that describe the Company's
or its management's future plans, objectives, or goals, are "forward-looking
statements" and are made pursuant to the Safe-Harbor provisions
of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements include the business strategies and
product plans of the Company and the features and benefits of
the products of the Company.
Such forward-looking statements involve known and unknown risks,
uncertainties and other factors that could cause the actual results
of the Company to be materially different from the historical
results and/or from any future results or outcomes expressed or
implied by such forward-looking statements. Among the important
factors that could cause results to differ materially are the
following: the failure of markets for home video to develop or
expand, and the failure of the Company's products to achieve or
sustain market acceptance or to meet, or continue to meet, the
changing demands of content or software providers. Other factors
include those outlined in the Company's Annual Report on Form
10-K for 2001, its Quarterly Reports on Form 10-Q, and such other
documents as are filed with the Securities and Exchange Commission
from time to time. These factors may not constitute all factors
that could cause actual results to differ materially from those
discussed in any forward-looking statement. The Company operates
in a continually changing business environment and new factors
emerge from time to time. The Company cannot predict such factors,
nor can it assess the impact, if any, of such factors on the Company
or its results. Accordingly, forward-looking statements should
not be relied upon as a prediction of actual results. The Company
is not obligated to revise or update any forward-looking statements
in order to reflect events or circumstances that may arise after
the date of this release.
Return to headlines
Schedules Second Quarter
Earnings Release and Conference Call
SANTA CLARA, Calif., July 26, 2002--Macrovision Corporation (Nasdaq:MVSN),
the world's leading supplier of digital rights management and
copy protection technologies, announced today that the Company's
2nd Quarter Earnings Release for 2002 will take place on July
29, 2002 at 1:30 p.m. PDT. The press release will be followed
by a conference call from 2:00 p.m. - 3:00 p.m. PDT.
Investors and analysts interested in participating in the conference
are welcome to call 303-262-2193 and enter passcode 485422#.
The conference call can also be accessed via live Webcast at
www.macrovision.com or www.companyboardroom.com (or www.streetevents.com
for subscribers) on 7/29/2002 at 2:00 p.m. PDT. Approximately
1-2 hours after the live Webcast ends, the on-demand Webcast of
Macrovision's guidance conference call can be accessed until 8/5/2002.
Investors and analysts interested in listening to a recording
of the conference are welcome to call 800-405-2236 (or international
303-590-3000) and enter passcode 485422#. Access to the postview
conference is available from 4:00 p.m. PDT on 7/29/2002 to 4:00
p.m. PDT on 7/30/2002. The conference call script will be posted
on the Company's website approximately 48 hours following the
call and will be posted for 30 days.
Return to headlines
Announces Stock Repurchase
Program
SANTA CLARA, Calif., May 28, 2002--Macrovision Corporation (Nasdaq:MVSN),
a world leader in digital rights management technologies, announced
today that its board of directors has authorized a repurchase
program for up to 5 million shares of its common stock. The Company
has approximately 51 million shares outstanding.
Purchases under Macrovision's stock repurchase program may be
made, from time-to-time, in the open market at prevailing market
prices, through block trades or otherwise, or in negotiated transactions
off the market, at the discretion of Company management. Depending
on market conditions and other factors, these purchases may be
commenced or suspended at any time or from time-to-time without
prior notice.
John Ryan, Chairman of Macrovision, said, "This stock repurchase
program demonstrates our confidence in the Company's future and
our belief that the stock is undervalued. In addition, it helps
to mitigate shareholder dilution from employee stock option grants.
Our current strong cash position and positive cash flow allows
us to implement this repurchase program without adversely impacting
our investment plans."
About Macrovision
Macrovision (www.macrovision.com) develops and markets copy
protection, rights management and electronic license management
technologies for the home video, consumer interactive software,
enterprise software and music markets. Macrovision has its corporate
headquarters in Santa Clara, California, with European headquarters
in London and Asia-Pacific headquarters in Tokyo.
This press release may contain "forward-looking" statements
as that term is defined in the Private Securities Litigation Reform
Act of 1995. A number of factors could cause Macrovision's actual
activities and results to differ from anticipated activities and
results expressed in such forward-looking statements. Factors
such as the trading price of Macrovision stock and Macrovision's
cash needs for operations and investment activities may affect
the timing and amount of Macrovision's stock repurchases. Other
factors are addressed in Macrovision's filings with the Securities
and Exchange Commission (available at www.sec.gov) Macrovision
assumes no obligation to update any forward-looking statements.
Return to headlines
Reports Record First
Quarter Net Revenues and Earnings
SANTA CLARA, Calif., April 29, 2002--Macrovision Corporation
(Nasdaq:MVSN) announced today that first quarter 2002 net revenues
were $23.7 million, compared with $23.0 million in the first quarter
of 2001, an increase of 3%. Pro forma earnings (before amortization
of intangibles from acquisitions, non-cash deferred compensation
expense and impairment losses on investments) were $9.2 million,
compared with $9.1 million recorded in last year's first quarter.
Pro forma diluted earnings per share for the quarter were $0.18,
the same as in the prior quarter a year ago.
Net income (including amortization of intangibles from acquisitions,
non-cash deferred compensation expense and impairment losses on
investments) for the first quarter of 2002 was $3.0 million. Diluted
earnings per share for the quarter were $0.06.
Cash and cash equivalents, short-term investments and long-term
marketable securities were $240.4 million as of March 31, 2002.
"We are pleased with our first quarter results," said Ian Halifax,
CFO at Macrovision. "Our revenues benefited from continued strength
in our DVD business, and double-digit growth in our Globetrotter
Software Division. The first quarter was important to us for a
number of reasons, notably the announcement of multi-year video
copy protection agreements with Dreamworks SKG and Twentieth Century
Fox Home Entertainment, and the launch of Version 3 of our SafeAudio
copy protection and rights management solution. Given current
uncertainties in the economy, we prefer to remain cautious in
our outlook. We remain comfortable with the 2002 earnings guidance
we have provided in prior conference calls. For the full year
2002, we continue to anticipate revenues of $103M-$108M, with
pro forma EPS of $0.84-$0.88; revenues, pro forma earnings and
pro forma EPS for the second quarter of 2002 are estimated to
be essentially in line with first quarter levels."
Immediately following the Q1 earnings release, Macrovision will
hold an investor conference call on April 29, from 2:00 p.m. to
3:00 p.m. PDT (5:00 p.m. to 6:00 p.m. EDT). Investors and analysts
interested in participating in the conference are welcome to call
212-346-0492 and enter reservation number 20526989.
The Q1 earnings conference call can also be accessed via live
webcast at www.macrovision.com or www.companyboardroom.com or
www.streetevents.com (for subscribers) on April 29 at 2:00 p.m.
PDT (5:00 p.m. EDT). Approximately 2 hours after the live webcast
ends, the on-demand webcast of Macrovision's Q1 earnings conference
call can be accessed until May 6, 2002.
Investors and analysts interested in listening to a recording
of the conference are welcome to call 800-633-8284 (or international
858-812-6440) and enter reservation number 20526989. Access to
the postview conference is available from 4:00 p.m. PDT on 4/29/02
to 4:00 p.m. PDT on 4/30/02. The conference call script will also
be posted on the Company's Web site for 30 days.
About Macrovision
Macrovision develops and markets copy protection, rights management
and electronic license management technologies for the home video,
consumer interactive software, enterprise software and music markets.
Macrovision has its corporate headquarters in Santa Clara, California,
with European headquarters in London and Asia-Pacific headquarters
in Tokyo.
-- The Video Technology Division provides technologies that
are used by motion picture studios, cable and satellite TV operators,
consumer electronics companies, and personal computer manufacturers
to prevent the unauthorized duplication, reception or use of copyrighted
video materials. Over 900 million DVDs, over 3 billion videocassettes,
and over 75 million digital set-top boxes have utilized Macrovision's
video copy protection technologies.
-- The Consumer Software Division provides an integrated suite
of tools that enable developers and publishers to protect, distribute,
and promote their products securely and effectively, with built-in
support for a wide range of robust business models.
-- The Globetrotter Software Division provides FLEXlm electronic
license management (ELM) and GTlicensing electronic license distribution
(ELD) solutions to independent software vendors (ISVs), as well
as SAMsuite software asset management tools for business applications.
These products are in use by over 2,500 ISV customers and over
500 large enterprise end-users throughout the world.
Macrovision, Globetrotter, FLEXlm, GTlicensing and SafeAudio
are registered trademarks or trademarks of Macrovision Corporation.
All statements contained herein, including the quotations attributed
to Mr. Halifax, as well as oral statements that may be made by
the Company or by officers, directors or employees of the Company
acting on the Company's behalf, that are not statements of historical
fact, including statements that use the words "will," "believes,"
"anticipates," "estimates," "expects," "intends" or "looking to
the future" or similar words that describe the Company's or its
management's future plans, objectives, or goals, are "forward-looking
statements" and are made pursuant to the Safe-Harbor provisions
of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements include the business strategies and
product plans of the Company and the features and benefits of
the products of the Company.
Such forward-looking statements involve known and unknown risks,
uncertainties and other factors that could cause the actual results
of the Company to be materially different from the historical
results and/or from any future results or outcomes expressed or
implied by such forward-looking statements. Among the important
factors that could cause results to differ materially are the
following: the failure of markets for home video to develop or
expand, and the failure of the Company's products to achieve or
sustain market acceptance or to meet, or continue to meet, the
changing demands of content or software providers. Other factors
include those outlined in the Company's Annual Report on Form
10-K for 2001, its Quarterly Reports on Form 10-Q, and such other
documents as are filed with the Securities and Exchange Commission
from time to time. These factors may not constitute all factors
that could cause actual results to differ materially from those
discussed in any forward-looking statement. The Company operates
in a continually changing business environment and new factors
emerge from time to time. The Company cannot predict such factors,
nor can it assess the impact, if any, of such factors on the Company
or its results. Accordingly, forward-looking statements should
not be relied upon as a prediction of actual results. The Company
is not obligated to revise or update any forward-looking statements
in order to reflect events or circumstances that may arise after
the date of this release.
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Q1 2002 Earnings Release
and Conference Call Scheduled for April 29, 2002
SANTA CLARA, Calif., April 26, 2002--Macrovision Corporation
(Nasdaq:MVSN), the world's leading supplier of digital rights
management and copy protection technologies, announced today that
the Company's 1st Quarter Earnings Release for 2002 will take
place on April 29, 2002 at 1:30 p.m. PDT. The press release will
be followed by a conference call from 2:00 p.m. - 3:00 p.m. PDT.
Investors and analysts interested in participating in the conference
are welcome to call 212-346-0492 and enter reservation number
20526989.
The conference call can also be accessed via live Webcast at
www.macrovision.com or www.companyboardroom.com (or www.streetevents.com
for subscribers) on 4/29/2002 at 2:00 p.m. PDT. Approximately
1-2 hours after the live Webcast ends, the on-demand Webcast of
Macrovision's guidance conference call can be accessed until 5/6/2002.
Investors and analysts interested in listening to a recording
of the conference are welcome to call 800-633-8284 (or international
858-812-6440) and enter reservation number 20526989. Access to
the postview conference is available from 4:00 p.m. PDT on 4/29/2002
to 4:00 p.m. PDT on 4/30/2002. The conference call script will
be posted on the Company's website approximately 48 hours following
the call and will be posted for 30 days.
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Responds to Verance
Counterclaims
SANTA CLARA, Calif., April 15, 2002-- Macrovision Corporation
(Nasdaq:MVSN), a world leader in digital rights management technologies,
has learned that Verance Corporation has amended its complaint
previously filed against Digimarc Corporation to include Macrovision
Corporation as a third-party defendant. The claims against Macrovision
include allegations of patent infringement and antitrust violations.
The case is pending in the District of Oregon, where Digimarc
is located.
Macrovision believes that the Verance claims have no merit and
Macrovision will vigorously defend this lawsuit. Macrovision also
believes that the Verance claims appear designed to disrupt the
DVD-CCA Digital Watermarking Solution bidding process. Verance
admits in its lawsuit that the "bids for the DVD-CCA standard
for digital watermarking technology for content copy protection
for audiovisual content were due" on November 2, 2001 and that
Verance "was unable to submit a bid." Verance's contention in
its lawsuit that Macrovision and Digimarc were required to assist
Verance in submitting a bid to the DVD-CCA is in Macrovision's
view, legally untenable. Similarly untenable is Verance's allegation
that Verance's audio watermarking technology could "support the
audiovisual copy protection sought by the DVD-CCA without the
need to adopt a video watermark technology." The policy argument
that audio copy protection is sufficient to protect video content
has no place in a court of law and Macrovision believes would
have been squarely rejected by the DVD-CCA.
About Macrovision
Macrovision (www.macrovision.com) develops and markets copy
protection, rights management and electronic license management
technologies for the home video, consumer interactive software,
enterprise software and music markets. Macrovision has its corporate
headquarters in Santa Clara, California, with European headquarters
in London and Asia-Pacific headquarters in Tokyo.
This press release may contain "forward-looking" statements
as that term is defined in the Private Securities Litigation Reform
Act of 1995. A number of factors could cause Macrovision's actual
results to differ from anticipated results expressed in such forward-looking
statements. Such factors are addressed in Macrovision's filings
with the Securities and Exchange Commission (available at http://www.sec.gov)
Macrovision assumes no obligation to update any forward-looking
statements.
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Reports Record Net Revenues
for Fourth Quarter and Fiscal Year 2001
SUNNYVALE, Calif., February 25, 2002 -- Macrovision Corporation
(NASDAQ:MVSN) announced today that fourth quarter 2001 net revenues
were $27.0 million, compared with $24.8 million in the fourth
quarter of 2000, an increase of 9%. Pro forma earnings (before
goodwill amortization, non-cash deferred compensation expense,
impairment losses on investments and restructuring charges) were
$12.1 million or 21% higher than the $9.9 million recorded in
last year's fourth quarter. Pro forma diluted earnings per share
(before goodwill amortization, non-cash deferred compensation
expense, impairment losses on investments and restructuring charges)
for the quarter rose to $0.23, which was 21% higher than the comparable
earnings per share of $0.19 in the fourth quarter a year ago.
Net revenues for the full year of 2001 also set a record high,
increasing to $98.8 million from $80.1 million for 2000, an increase
of 23%. Pro forma earnings for 2001 were $42.2 million. This was
26% higher than the $33.4 million recorded in 2000. Pro forma
diluted earnings per share for 2001 rose to $0.82, which was 26%
higher than the comparable earnings per share of $0.65 last year.
Net income (including goodwill amortization, non-cash deferred
compensation expense, impairment losses on investments and a restructuring
charge) for the fourth quarter of 2001 was $4.1 million. Diluted
earnings per share (including goodwill amortization, non-cash
deferred compensation expense and impairment losses on investments)
for the quarter was $0.08. Net income for the full year of 2001
was $19.2 million. Diluted earnings per share for 2001 was $0.37.
Cash and cash equivalents, short-term investments and long-term
marketable securities were $231.0 million as of December 31, 2001,
an increase of 6% over December 31, 2000.
These results reflect the inclusion of the operations of Globetrotter
Software, Inc., which was acquired on August 31, 2000. The Globetrotter
transaction has been accounted for using the "pooling of interests"
method. As a result, all financial statements (both current and
prior year) are presented on a combined basis.
"We are pleased with our fourth quarter results," said Ian Halifax,
CFO at Macrovision. "Our revenues benefited from a strong holiday
season for our DVD copy protection solution. The fourth quarter
was important to us for a number of reasons, notably the announcement
of license agreements with Hyperion, MathSoft and UbiSoft for
our SAFEDISC(R) technologies, new releases of our FLEXlm(R) and
GTlicensing(TM) products and the launch of our MACROSAFE(TM) digital
copy protection and content management platform. We remain comfortable
with the 2002 earnings guidance we gave during our December 12,
2001 conference call. Revenues for the first quarter of 2002 are
estimated to be in the $20M-$22M range, with pro forma EPS of
$0.14-$0.16; for the full year 2002, we anticipate revenues of
$103M-$108M, with pro forma EPS of $0.84-$0.88."
Immediately following the Q4 earnings release, Macrovision will
hold an investor conference call on February 25, from 2:00 PM
to 3:00 PM PST (5:00PM to 6:00PM EST). Investors and analysts
interested in participating in the conference are welcome to call
212-346-0291 and enter reservation number 20273418.
The Q4 earnings conference call can also be accessed via live
webcast at www.macrovision.com or www.companyboardroom.com or
www.streetevents.com (for subscribers) on February 25 at 2:00
PM PST (5:00 PM EST). Approximately 2 hours after the live webcast
ends, the on-demand webcast of Macrovision's Q4 earnings conference
call can be accessed until March 4, 2002.
Investors and analysts interested in listening to a recording
of the conference are welcome to call 800-633-8284 (or international
858-812-6440) and enter reservation number 20273418. Access to
the postview conference is available from 4:00 PM PST on 2/25/02
to 4:00 PM PST on 2/26/02. The conference call script will also
be posted on the Company's web site for 30 days.
About Macrovision
Macrovision develops and markets copy protection, rights management
and electronic license management technologies for the home video,
consumer interactive software, enterprise software and music markets.
Macrovision has its corporate headquarters in Sunnyvale, California,
with European headquarters in London and Asia-Pacific headquarters
in Tokyo.
-- The Video Technology Division provides technologies that are
used by motion picture studios, cable and satellite TV operators,
consumer electronics companies, and personal computer manufacturers
to prevent the unauthorized duplication, reception or use of copyrighted
video materials. Over 900 million DVDs, over 3 billion videocassettes,
and over 75 million digital set top boxes have utilized Macrovision's
video copy protection technologies.
-- The Consumer Software Division provides an integrated suite
of tools that enable developers and publishers to protect, distribute,
and promote their products securely and effectively, with built-in
support for a wide range of robust business models.
-- The Globetrotter Software Division provides FLEXlm electronic
license management (ELM) and GTlicensing electronic license distribution
(ELD) solutions to independent software vendors (ISVs), as well
as SAMsuite software asset management tools for business applications.
These products are in use by over 2,500 ISV customers and over
500 large enterprise end-users throughout the world.
Effective March 1, 2002, Macrovision Corporation's new principal
place of business will be:
Macrovision Corporation
2830 De La Cruz Boulevard
Santa Clara, CA 95050
Main Tel: (408) 743-8600 or Toll Free: 1-866-891-MVSN
Main Fax: (408) 743-8610
Macrovision, Globetrotter, FLEXlm, GTlicensing, SAFEDISC and
MACROSAFE are registered trademarks or trademarks of Macrovision
Corporation.
All statements contained herein, including the quotations attributed
to Mr. Halifax, as well as oral statements that may be made by
the Company or by officers, directors or employees of the Company
acting on the Company's behalf, that are not statements of historical
fact, including statements that use the words "will," "believes,"
"anticipates," "estimates," "expects," "intends" or "looking to
the future" or similar words that describe the Company's or its
management's future plans, objectives, or goals, are "forward-looking
statements" and are made pursuant to the Safe-Harbor provisions
of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements include the business strategies and
product plans of the Company and the features and benefits of
the products of the Company.
Such forward-looking statements involve known and unknown risks,
uncertainties and other factors that could cause the actual results
of the Company to be materially different from the historical
results and/or from any future results or outcomes expressed or
implied by such forward-looking statements. Among the important
factors that could cause results to differ materially are the
following: the failure of markets for home video to develop or
expand, and the failure of the Company's products to achieve or
sustain market acceptance or to meet, or continue to meet, the
changing demands of content or software providers. Other factors
include those outlined in the Company's Annual Report on Form
10-K for 2000, its Quarterly Reports on Form 10-Q, and such other
documents as are filed with the Securities and Exchange Commission
from time to time. These factors may not constitute all factors
that could cause actual results to differ materially from those
discussed in any forward-looking statement. The Company operates
in a continually changing business environment and new factors
emerge from time to time. The Company cannot predict such factors,
nor can it assess the impact, if any, of such factors on the Company
or its results. Accordingly, forward-looking statements should
not be relied upon as a prediction of actual results. The Company
is not obligated to revise or update any forward-looking statements
in order to reflect events or circumstances that may arise after
the date of this release.
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Q4 2001 Earnings Release
and Conference Call Scheduled
SUNNYVALE, Calif., February 22, 2002 -- Macrovision Corporation
(NASDAQ:MVSN), the world's leading supplier of digital rights
management and copy protection technologies, announced today that
the Company's 4th Quarter Earnings Release for 2001 will take
place on February 25, 2002 at 4:30 P.M. EST. The press release
will be followed by a conference call from 5:00 P.M. - 6:00 P.M.
EST.
Investors and analysts interested in participating in the conference
are welcome to call 212/346-0291 and enter reservation number
20273418.
The conference call can also be accessed via live Webcast at
www.macrovision.com, or www.companyboardroom.com or www.streetevents.com
(for subscribers) on 2/25/2002 at 5:00 p.m. EST. Approximately
1-2 hours after the live Webcast ends, the on-demand Webcast of
Macrovision's guidance conference call can be accessed until 3/4/2002.
Investors and analysts interested in listening to a recording
of the conference are welcome to call 800/633-8284 (or international
858/812-6440) and enter reservation number 20273418. Access to
the postview conference is available from 7:00 P.M. EST on 2/25/2002
to 7:00 P.M. EST on 2/26/2002. The conference call script will
be posted on the Company's website approximately 48 hours following
the call and will be posted for 30 days.
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