11/17/2003 - e.Digital Corporation (OTC: EDIG) reported revenues for the quarter ended September 30, 2003 (the Company’s second quarter for fiscal 2004) totaled $1,097,914, a 278% increase over the quarter ended September 30, 2002. Revenues for the first six months of fiscal 2004 totaled $2,251,906, a 168% increase over the same six-month period last year. The Company reported a loss for the quarter of $754,013 ($0.01 per share) versus a loss of $2,673,578 ($0.02 per share) for the same quarter last year. For the first six months of fiscal 2004, the Company reported a loss of $1,335,125 ($0.01 per share) versus $4,615,860 ($0.03 per share) for the same six-month period last year.
“This marks our second consecutive quarter of more than $1 million in revenue,” said Fred Falk, president and chief executive officer of e.Digital. “We have made good progress this year in increasing our revenue and lowering our losses. This is directly attributable to the strong efforts of our team and increasing OEM business and MicroOSTM-based technology platform opportunities.”
Falk added, “To date this year, we have worked with our OEM customers, partners and business associates on the release of products based on our wireless MP3-based headset platform (Softeq, Hewlett Packard and Walt Disney World Resort), personal video platform (APS, 20th Century Fox, DivXNetworks, DMX, and Alaska Airlines) and the first branded device based on our Odyssey 1000 digital jukebox platform to come to market under the royalty-bearing license agreement we announced on September 16, 2003. We expect further releases of branded products based on our proprietary technology platforms.
“We look forward to releasing more information on our business and technology developments as well as providing revenue guidance in future corporate communications and at our December 4, 2003 shareholders meeting,” concluded Falk.
e.Digital Corporation specializes in technology innovation and applications integration through engineering partnerships with leading original equipment manufacturers (OEMs) designing, licensing, branding, and manufacturing digital audio, video and wireless products and technology platforms. The Company also sells its Odyssey 1000TM digital jukebox through selected e-tail and retail outlets. Applications for e.Digital's technology include delivery and management of open and secure digital media with a focus on music, voice, wireless and video players/recorders, automotive infotainment and telematics systems, portable digital music players and voice recorders; desktop, laptop, and handheld computers; PC peripherals; cellular phone peripherals; e-books; video games; digital cameras; and digital video recorders. Engineering services range from the licensing of e.Digital's patented MicroOSTM file management system to custom software and hardware development, industrial design, and manufacturing services. For more information on the company, please visit www.edigital.com.
Safe Harbor statement under the Private Securities Litigation Reform of 1995
All statements made in this document, other than statements of historical fact, are forward-looking statements. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the businesses of the Company and the industries and markets in which the company operates. Those statements are not guarantees of future performance and involve risks, uncertainties and assumptions that will be difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or implied by those forward-looking statements. More information about potential factors that could affect the Company can be found in its most recent Form 10-K, Form 10-Q and other reports and statements filed by e.Digital with the Securities and Exchange Commission (“SEC”). e.Digital disclaims any intent or obligation to update those forward-looking statements, except as otherwise specifically stated by it.
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