R.C. Willey opened 130,000-sq.-ft. store in Henderson, Nev., marking entry into Las Vegas market. Salt Lake City-based chain, which plans up to 3 stores in Las Vegas area, is likely to open 2nd outlet in Summerlin, Nev., in 2003, Vp Steve Child said.
Infogrames started shipping Sid Meier’s Civilization III E- (Everyone) rated PC game at $49.99. Special edition is also available at $59.99. Title was developed by Firaxis Games and runs on PCs with Windows 95/98/Me/2000/XP operating systems. Macinstosh version is slated to ship in March, Infogrames said.
Gemini Industries signed agreement to license Scottsdale Technologies’ Digital-IR technology that allows remote control to be upgraded with product codes downloaded from Internet. Gemini will ship Philips brand 6-function remote containing technology in Feb. at $69 and is likely expand it to 4- and 8-function devices as well, Business Development Vp Robert Heiblim said. Remote is updated by pointing it at PC screen displaying promoteremote.com Web site. Codes then are uploaded from screen via IR light signals and stored in remote. Rather than ROM chip typically found in standard remote with preloaded product codes, Digital-IR-based remote contains EPROM to accommodate those downloaded from Web site. In focus group tests, first-time users were able to complete process in 10 min., Heiblim said. Gemini will maintain Web site and update database and has rights under agreement to license technology to 3rd parties, he said. Philips will manufacture remote in Spain and market it in Europe, while Gemini handles sales in U.S. Scottsdale said it would receive royalty payments of $5 million in next 2 years. It receives minimum monthly royalty payment of $15,000 and minimum royalty of 25? per unit manufactured. Scottsdale, founded in 1996, originally was purveyor of Light Link IR technology that it included in Program Master remote device that controlled TV, VCR and cable box and could be updated via software. It also marketed Electronic TV Host service that promised to deliver weekly TV listings to PC via modem.
Earnings and revenue increased for Games division of Vivendi Universal Publishing (VUP) business in 3rd quarter ended Sept. 30. Paris-based company said videogame earnings before interest, taxes, depreciation and amortization (EBITDA) more than doubled to 29 million euros ($26.3 million), while revenue increased 7% to 89 million euros ($80.7 million).
Bestway Rentals received waiver from lender after violating requirement of $10 million credit agreement governing interest coverage ratio, it said in SEC filing. Rental chain, which operates 83 stores, received series waivers earlier this year before credit agreement was formally amended Oct. 26 and extended to Feb. 28. Bestway sold stores in Lafayette, Tenn., and Hickory, N.C. this fall to Value Rentals and Rent-a-Center for $216,841 and $113,541, respectively. At same time, it purchased outlets in Tenn. from Instant Rentals ($148,000) and Ala. from Zajac’s Electronics Service Center ($296,000). Bestway said net income for year ended July 31 fell to $97,488 from $397,413 year earlier as revenue rose to $35.9 million from $34.9 million. CE accounted for 32% of revenue, followed by home furniture (27%), appliances (16%).
BMC Industries, hampered by slowdown in sales of TV and PC monitor masks, reported $4.1 million 3rd quarter loss, vs. $2.7 million profit year ago as revenue plunged to $73.3 million from $90.2 million.
Sears opened 2nd store that melds CE and appliances in freestanding location in Bolingbrook, Ill., and will add 3rd in Mount Prospect, Ill., by early Nov., Home Electronics Vp-Gen. Mgr. Ray Brown said. Sears opened first test store in Ind. earlier this year and thus far has posted sales incremental to existing department store locations, Brown said. “If you look at the trading area and the stores that used to service it incrementally we are growing that business,” he said. Brown declined to release sales figures. While first 3 stores have same format, “I can’t say we won’t looking at tweaking it next year and 2002, to a certain degree, will vary [in format] at least slightly.”
Boston Acoustics and Visteon will develop and deliver Boston Acoustics-branded OEM autosound systems to automakers under joint development agreement announced Tues. Agreement could provide boost to Boston Acoustics OEM business, which has slumped because of its reliance on Gateway Computer as dominant customer of multimedia PC speakers.
Digital watermarking for DVD-Video will be in place by next Christmas, with DVD Copy Control Assn. (DVD CCA) scheduled to select system by April, Macrovision CEO William Krepick said. Meanwhile, record labels are testing variety of copy protection technologies for CDs but are unlikely to sign exclusive licensing agreements for any until they're satisfied with balance of protection and playback compatibility, he said.
Rigorous set of security precautions await visitors to first Comdex show following Sept. 11 attacks, including strict rules barring “bags of any kind” on show floor. Organizers of Comdex, which opens Nov. 12 in Las Vegas for 5-day run, told reporters in news briefing Tues. that security measures were drawn up in consultation with Las Vegas authorities. Organizers said they would give special dispensation to news media on “no bags” policy, such as permitting reporters to carry notebook computers and cases and arranging for special checking and storage provisions near press room. Special password-protected security memos will be e-mailed within week to registered reporters that will describe procedures for carrying cameras and other equipment, they said.