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Archives for August 1996

Harman Group Pro Audio and Consumer Audio Divisions Rack Up Record Results

August 30, 1996 by Leave a Comment

Harman International achieved record financial results for the fourth quarter and the fiscal year ended June 30, 1996. These results were fueled in part by strong sales from the Harman group’s professional audio and consumer audio divisions.

According to Sidney Harman, Chairman and CEO of Harman International, success stories in the pro audio arena included JBL Professional’s EON series of compact portable sound reinforcement systems; the Turbosound line of professional loudspeaker systems; and the BSS line of digital signal processors and loudspeaker management systems.

On the consumer audio front, Harman pointed to strong fourth-quarter sales of JBL, Infinity and Harman Kardon products. “We also added new lines at the high end, with the Mark Levinson and Proceed brands that we acquired in September 1995 by purchasing Madrigal Audio Laboratories,” said Harman.

For the year, sales were $1.3 billion, a 16% increase over sales for the prior year. Net income was $52 million, equal to $3.16 per share, an increase of $10.9 million (26%) and $.58 per share over the prior year.

Fourth quarter sales were $373.1 million, a 9% increase over the comparable quarter last year. The Company’s sales in the fourth quarter were negatively affected by currency and by the restructuring programs at AKG, Studer and Becker. Net income for the fourth quarter was up 23% to $16.8 million, equal to $.97 per share, compared with net income of $13.7 million, and $.84 per share, in the prior year.

“We are pleased with the results of fiscal 1996 and look forward to fiscal 1997.”

Filed Under: Pro Audio

Sony, Toshiba, Matsushita Announcements Raise Clouds Over Future of DVD Audio

August 29, 1996 by Leave a Comment

Tokyo. Sony Corp. yesterday confirmed industry speculation that it will not introduce DVD players until next spring. Sony blames the delay on the looming initial scarcity of software.

The DVD format is touted by many as an eventual replacement for CD’s, videotape, and CD-ROM. The discs are the same size as CD’s, but they are capable of storing as much as 14 times the amount of digital information.

Sony’s decision follows more positive announcements earlier in the week by Japanese makers Toshiba Corp., Matsushita Electric Industrial Co., and Hitachi Ltd.

Toshiba says it will market two DVD models in October or November, in time for Christmas shopping in both the U.S. and Japan. One of the Toshiba units will play both CDs and DVDs, while the other will be equipped for karaoke.

Pioneer will market two DVD players in October, one compatible with CD’s and the other with laser discs. Parent company Matsushita plans to announce a Japanese sales date and pricing at a news conference today. And Hitachi still plans to introduce an unspecified lineup of DVD players by the end of the year.

According to Sony spokesman Masanobu Sakaguchi, disputes about copy protection have delayed the production of software, as well as the DVD players. “We believe that was a reasonable business decision,” he said. “You can’t do business just coming out with the hardware.”

The DVD format is also hobbled as a vehicle for audio recordings by the lack of an agreed standard. Dolby’s AC-3 is specified for surround sound accompanying video. But there are currently several proposed standards for independent DVD audio, including 24-bit resolution with 96 kHz sample rate, 24-bit 88.2 kHz, and 16-bit 44.1 kHz.

The bottom line: don’t expect to see much movement on the DVD Audio front for quite some time.

Filed Under: Biz, HiFi Tagged With: , ,

Radio Stations Change Hands: WYSR (Albany) and Morningstar Network (Nashville)

August 29, 1996 by Leave a Comment

Nashville, TN. Salem Radio Network has announced its purchase of Morningstar Radio Network, Inc. of Nashville. Morningstar produces, syndicates and distributes via satellite two 24-hour Christian music formats, Today’s Christian Music (adult contemporary), and High Country to over 160 affiliated radio stations nationwide.

“The acquisition of Morningstar is another important step in the continued growth of SRN,” said SRN President, Greg Anderson. “While news and talk syndication has been our foundation, we have consistently sought the right opportunity to expand our Christian music programming and syndication. Morningstar provides us with that opportunity.”

New York, NY. SFX Broadcasting Inc. has announced the acquisition of radio station WYSR-FM from Jarad Broadcasting Co. for $1.0 million. WYSR serves the Albany, N.Y. market with a 70s oldies format. SFX already owns four other Albany market stations: WGNA-FM (country), WGNA-AM (country), WPYX-FM (AOR), and WTRY-AM (70’s oldies).

“While we’ve been selling advertising for WYSR, it’s great to now be acquiring the station,” says Robert F.X. Sillerman, Executive Chairman of SFX Broadcasting. “Our proven programming expertise will allow us to fully exploit the potential of this station and bring its market ratings up to the level of our other two FM stations.”

Filed Under: Biz

Computer Giant Fujitsu Enters Music Software Market

August 29, 1996 by Leave a Comment

Tokyo. Japan’s top mainframe computer maker Fujitsu Ltd. said Wednesday it will expand into the production of music software, including CD’s. Fujitsu’s new products will be marketed under the “fin fin” label. The first offering will be a multimedia music CD-ROM to be released in October. fin fin will follow up in November with its first classical music CD.

Fujitsu is following the lead of other Japanese computer and electronics manufacturers, including Sony, Toshiba, Victor, by getting into the music market. Unlike its rivals, however, Fujitsu claims that the music software line will feature its computer technologies prominently.

Filed Under: Biz

Sony, Toshiba, Matsushita Announcements Raise Clouds Over Future of DVD Audio

August 29, 1996 by Leave a Comment

Tokyo. Sony Corp. yesterday confirmed industry speculation that it will not introduce DVD players until next spring. Sony blames the delay on the looming initial scarcity of software.

The DVD format is touted by many as an eventual replacement for CD’s, videotape, and CD-ROM. The discs are the same size as CD’s, but they are capable of storing as much as 14 times the amount of digital information.

Sony’s decision follows more positive announcements earlier in the week by Japanese makers Toshiba Corp., Matsushita Electric Industrial Co., and Hitachi Ltd.

Toshiba says it will market two DVD models in October or November, in time for Christmas shopping in both the U.S. and Japan. One of the Toshiba units will play both CDs and DVDs, while the other will be equipped for karaoke.

Pioneer will market two DVD players in October, one compatible with CD’s and the other with laser discs. Parent company Matsushita plans to announce a Japanese sales date and pricing at a news conference today. And Hitachi still plans to introduce an unspecified lineup of DVD players by the end of the year.

According to Sony spokesman Masanobu Sakaguchi, disputes about copy protection have delayed the production of software, as well as the DVD players. “We believe that was a reasonable business decision,” he said. “You can’t do business just coming out with the hardware.”

The DVD format is also hobbled as a vehicle for audio recordings by the lack of an agreed standard. Dolby’s AC-3 is specified for surround sound accompanying video. But there are currently several proposed standards for independent DVD audio, including 24-bit resolution with 96 kHz sample rate, 24-bit 88.2 kHz, and 16-bit 44.1 kHz.

The bottom line: don’t expect to see much movement on the DVD Audio front for quite some time.

Filed Under: Biz, Pro Audio
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