Syntax-Brillian Corp (MM) (NASDAQ:BRLC)
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From Jun 2019 to Jun 2024
Syntax-Brillian Corporation (Nasdaq:BRLC), a leading manufacturer
and marketer of LCD HDTVs, digital cameras and consumer electronics
products, today announced that it will undertake a series of strategic
initiatives to position the company for future growth. These initiatives
will entail a realignment of several components of Syntax-Brillian’s
global infrastructure designed to drive efficiencies and better match
the Company’s resources to its long-term
growth plan. The Company outlined several key actions.
Simplify Supplier Network
Syntax-Brillian will continue to simplify its network of supplier
relationships through which it develops and manufactures its Olevia and
Vivitar product lines. Most recently, the Company announced a strategic
manufacturing agreement with Compal Electronics, which will initially
produce 300,000 Olevia LCD HDTVs and expand that volume to one million
units during calendar year 2008. The agreement with Compal will augment
Syntax-Brillian’s existing alliances with
Taiwan-based Kolin and DigiMedia, and will enhance the Company’s
supply chain management continuity, engineering expertise and
manufacturing proficiency.
Concentrate Relationships With Retail Partners
The Company will streamline its channel partnerships to focus on a more
targeted group of customers within Syntax-Brillian’s
current base of 3,000 retail and online partners. This will allow the
Company to focus on growing long-term relationships with retailers that
closely match the brand attributes of the Olevia and Vivitar brands. In
this way, the Company will be able to provide sustainable and
controllable growth in a mutually beneficial partnership with customers.
Workforce Realignment
To more effectively align the composition of its staff with the
announced strategic initiatives, Syntax-Brillian will eliminate
positions representing an approximate 20 percent reduction in overhead
costs. Syntax-Brillian expects that these work force reductions will
result in annualized savings of approximately $4 million in operating
costs.
“Today we are taking the actions that are
necessary to move Syntax-Brillian into the next stage of its growth,”
said Syntax-Brillian President and CEO James Li. “By
focusing on those customers that best match our brand attributes we can
better position the Company for sustained controllable growth in the
future.”
About Syntax-Brillian
Syntax-Brillian Corporation (www.syntaxbrillian.com)
is one of the world's leading manufacturers and marketers of LCD HDTVs,
digital cameras, and consumer electronics products. The Company's lead
products include its Olevia(TM) brand (www.Olevia.com)
high-definition widescreen LCD televisions -- one of the fastest growing
global TV brands -- and Vivitar brand (www.vivitar.com)
digital still and video cameras. Syntax-Brillian has built an Asian
supply chain coupled with an international manufacturing and
distribution network to support worldwide retail sales channels and
position the Company as a market leader in consumer digital
entertainment products.
Forward-looking Statements:
Certain statements contained in this press release may be deemed to be
forward-looking statements under federal securities laws, and
Syntax-Brillian intends that such forward-looking statements be subject
to the safe harbor created thereby. Syntax-Brillian cautions that these
statements are qualified by important factors that could cause actual
results to differ materially from those reflected by the forward-looking
statements contained herein. Such factors include changes in markets for
the Company's products; changes in the market for customers' products;
the failure of the Company's products to deliver commercially acceptable
performance; the ability of the Company's management, individually or
collectively, to guide the Company in a successful manner; and other
risks detailed in Syntax-Brillian's Annual Report on Form 10-K for the
fiscal year ended June 30, 2007 and subsequent filings with the
Securities and Exchange Commission.
Brillian and Vivitar are trademarks or registered trademarks of
Syntax-Brillian Corporation. All other trademarks are the property of
their respective owners.