Business Services Industry
BusinessWeek and Business 2.0 Recognize Sonic Solutions; Sonic Among the Fastest-Growing Companies According to Leading Business Journals
Business Wire, June 5, 2006
NOVATO, Calif. -- Sonic Solutions(R) (NASDAQ:SNIC), the leader in digital media software, has been recognized for its fast growth by the highly regarded business journals, BusinessWeek and Business 2.0. BusinessWeek ranked Sonic 47th on its Hot Growth list of America's 100 fastest-growing small companies, identified by the publication as being strong, agile, and fiercely competitive. Sonic also earned a position on Business 2.0's list of fastest-growing technology companies. Dubbed the B2 100, the annual list includes businesses the publication notes as helping set the pace for the economy.
Sonic's growth in fiscal year 2006 was a record for the company with revenues of $148.7 million. The company also exceeded operating income targets, which increased 156% over the prior year. In addition, Sonic continued to be cash flow positive and to improve virtually all other financial indicators including gross margin and operating margins.
"Recognition from these respected publications is extremely gratifying and is further evidence that Sonic continues to execute effectively on our digital media software strategy," said Dave Habiger, president and CEO, Sonic Solutions. "Fueled by increasing shares of key digital media market segments, Sonic achieved a 64% growth rate in fiscal year 2006. In the year ahead, Sonic will remain at the forefront of the consumer digital media space, continue to take the lead in working with Hollywood to roll out the new HD DVD and Blu-ray Disc high-definition formats, and help enable the electronic distribution of premium video content."
Both BusinessWeek and Business 2.0 selected Sonic for list inclusion from a pool of thousands of companies. To find the B2 100, Business 2.0 screened a universe of more than 2,000 tech companies that have been publicly traded on a U.S. stock exchange for at least three years, have a market capitalization of at least $50 million, and have had a positive operating cash flow over the past 12 months. Similarly, BusinessWeek combed a database of 5,275 public companies with revenues of $50 million to $1.5 billion a year, which the publication then ranked by sales and earnings growth, as well as return on capital over three years.
About Sonic Solutions
Sonic Solutions (NASDAQ:SNIC)(http://www.sonic.com) is the leader in digital media software, providing a broad range of interoperable, platform-independent software tools and applications for creative professionals, business and home users, and technology partners. Sonic's products range from advanced DVD authoring systems and interactive content delivery technologies used to produce the majority of Hollywood DVD film releases, to the award-winning Roxio(R)-branded CD and DVD creation, playback and backup solutions that have become the premier choice for consumers, prosumers and business users worldwide.
Sonic products are globally available from major retailers, online at Sonic.com and Roxio.com, and are bundled with PCs, after-market drives and consumer electronic devices. Sonic's digital media creation engine is the de facto standard and has been licensed by major software and hardware manufacturers, including Adobe, Microsoft, Scientific-Atlanta, Sony, and many others. Sonic Solutions is headquartered in Marin County, California.
Forward Looking Statements
The above paragraphs of this press release may contain forward looking statements that are based upon current expectations. Actual results could differ materially from those projected in the forward looking statements as a result of various risks and uncertainties including, among others, the timely introduction and acceptance of new products, costs associated with new product introductions, the transition of products to new hardware configurations and platforms and other factors, including those discussed in the Company's annual and quarterly reports on file with the Securities and Exchange Commission. This press release should be read in conjunction with the Company's most recent annual report on Form 10-K, Form 10-Q and Registration Statement on file with the Securities and Exchange Commission, which contain a more detailed discussion of the Company's business including risks and uncertainties that may affect future results. The Company does not undertake to update any forward looking statements.
Sonic, the Sonic logo, Sonic Solutions, and Roxio are trademarks or registered trademarks of Sonic Solutions or its subsidiaries in the United States and/or other countries. All other company or product names are trademarks of their respective owners and, in some cases, are used by Sonic Solutions under license.
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