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Srs Labs Inc

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BUSINESS
July 4, 2001 | Reuters
SRS Labs Inc., which provides audio and voice enhancement technology, said higher revenue and reduced costs should result in a significantly lower net loss for the second quarter. The Santa Ana company, which plans to release its second-quarter results July 24, said it expects to meet its goals for revenue growth, operating performance and gross margin. In the second quarter last year, SRS lost $4 million on sales of $6.6 million. The stock closed at $4.69, off 1 cent a share, in Nasdaq
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BUSINESS
December 31, 1998 | Jonathan Gaw
Santa Ana-based SRS Labs Inc., which has seen its stock decline steadily since March, said Wednesday it plans to repurchase up to 500,000 shares of its common stock over the next year. The developer of audio and voice technology last week saw its stock hit a 52-week low of $2.69 a share after being as high as $10.19 earlier this year. The announcement, made half an hour before the market closed, sparked a jump in the stock, which closed Wednesday at $3.03, up 22 cents, or 7.8%.
BUSINESS
April 25, 2001
The Santa Ana provider of audio and voice enhancement technologies said it lost $1.6 million, or 12 cents a share, for the first quarter, which included charges for the restructuring of the SRSWOWCast.com unit. The net loss for last year's first quarter was $4.3 million, or 36 cents a share. Revenue fell 40% to $4.3 million. The company also said Roger W. Johnson of Laguna Beach, a former Western Digital Corp.
BUSINESS
August 24, 1995
SRS Labs Inc., a Santa Ana developer of sound technology, said Wednesday that it has signed a licensing agreement with NEC Technologies Inc. to sell audio capability to the Boxborough, Mass., computer giant. Officials for SRS Labs would not disclose how large a contract the company had garnered, other than to say that volume would be "significant." The new product, SRS 3D sound technology, will provide audio for NEC's new Ready line of multimedia computers.
BUSINESS
March 15, 1995 | Ross Kerber, Times staff writer
SRS Labs, Packard Bell Sign Deal: SRS Labs Inc. said it has signed a licensing agreement for personal computer maker Packard Bell to use a new sound processing technology in its multimedia computers. Neither of the privately held companies released details of the transaction. Stephen Sedmak, president of SRS Labs, said the company is also negotiating with other hardware and software companies to license the technology.
BUSINESS
March 5, 1998
SRS Labs Inc. said Wednesday it has completed its acquisition of Hong Kong-based Valence Technology Inc. for $19.5 million in cash and stock. Valence, a maker of video CD machines, will operate as a wholly owned subsidiary of SRS Labs. Valence operates five offices located in Hong Kong and China with 130 employees. SRS, which develops audio systems, said the acquisition should substantially increase its revenue base in China, one of its most important growth markets.
BUSINESS
February 26, 1998 | Dow Jones
SRS Labs Inc. said Wednesday it has agreed to acquire Hong Kong-based Valence Technology Inc. for $19.5 million in cash and stock. SRS Chairman and Chief Executive Thomas Yuen said the acquisition will give his company a substantial revenue base in China's market for video CD machines, which are popular as sing-along machines.
BUSINESS
August 19, 1996
SRS Labs Inc. said its sound enhancement technology will be included in Apple Computer Inc.'s new Macintosh Performa 6400 series of computers. SRS, based in Santa Ana, licenses a technology designed to create a three-dimensional sound effect using ordinary stereo speakers. The technology is already used in multimedia computers built by NEC, Packard Bell and Sony, as well as in high-performance televisions and stereos built by RCA, Kenwood and Pioneer.
BUSINESS
October 31, 1996
SRS Labs Inc., a provider of 3D audio technology, reported third-quarter net income of $632,609, or 7 cents a share, contrasted with a net loss of $499,368, or 8 cents a share, a year ago. Revenue advanced to a record $1.5 million from $127,432. Net income for the nine-month period totaled $1.1 million, or 14 cents a share, contrasted with a net loss of $1.3 million, or 22 cents a share, for the corresponding period last year. Revenue rose to $3.6 million from $475,571.
BUSINESS
April 5, 2001
SRS Labs Inc. in Santa Ana said its TruBass audio technology will be featured in Hitachi Ltd.'s 32-inch plasma high-definition televisions under a licensing agreement. Terms were not disclosed. SRS said in a press release that TruBass will allow Hitachi customers to hear low bass sounds through the television's small speaker system, which is 9 centimeters deep. Normally, such small speakers could not reproduce low frequencies, the Santa Ana company said.
BUSINESS
June 19, 2000
Companies whose shares may move in U.S. markets today: * Autobytel.com Inc., the Irvine-based Internet car-shopping service, said Chief Financial Officer Hoshi Printer resigned to become CFO at BestOffer.com. On Friday, shares closed at $6.81, down 19 cents, on Nasdaq. * Boeing Co. won an order from NASA valued at $168 million to launch at least three Delta II rockets. NASA placed options for five more Delta II launches that could take the contract's value to as much as $417 million.
BUSINESS
June 17, 2000
SRS Labs Inc. in Santa Ana said Friday that it is postponing plans to take its Valence Technology Inc. subsidiary public in Hong Kong. SRS, which provides audio and voice technology products, said it decided to delay the initial public stock offering after Asian investors were less enthusiastic than expected. SRS acquired Valence in March 1998 to gain access to markets in China, particularly for video CD machines used in karaoke.
BUSINESS
April 9, 1999 | Jonathan Gaw
The chief financial officer of Santa Ana-based SRS Labs Inc. will leave to co-found a health-care staffing firm, the company said Thursday. Janet Biski, who has been with the developer of audio technology for five years, helped steer SRS through the transition from a privately held company to a publicly traded firm. She is resigning effective April 16 to become chief financial officer of the start-up company AccentCare of Dana Point.
BUSINESS
February 1, 1999 | P.J. HUFFSTUTTER, TIMES STAFF WRITER
SRS Labs Inc. has long been known for making inexpensive speakers sound rich and full. But the Santa Ana audio technology firm is expanding into new markets, thanks to a multiyear deal it recently signed with consumer electronics giant Samsung Electronics Co. The licensing agreement calls for SRS Labs' voice technology--known as VIP--to be incorporated into all of Samsung's cellular phones.
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