RealD (RLD), a global licensor of 3D technologies, is expected to price its IPO this week.
Business Overview (from prospectus)
We are a leading global licensor of stereoscopic (three-dimensional), or 3D, technologies. Our extensive intellectual property portfolio enables a premium 3D viewing experience in the theater, the home and elsewhere. We license our RealD Cinema Systems to motion picture exhibitors that show 3D motion pictures and alternative 3D content. We also provide our RealD Format, active and passive eyewear, and display and gaming technologies to consumer electronics manufacturers and content producers and distributors to enable the delivery and viewing of 3D content on high definition televisions, laptops and other displays. Our cutting-edge 3D technologies have been used for applications such as piloting the Mars Rover, heads-up displays for military jets and robotic medical procedures.
Offering: 10.8 million shares (4.8 million offered by selling stockholders) at $13 - $15 per share. Net proceeds of approximately $25.1 million will be used for debt repayment.
Revenue increased $110.1 million to $149.8 million fr the year ended March 26, 2010 compared to $39.7 million for the year ended March 27, 2009...Cost of revenue increased, as a percentage of revenue, to 93.8% for the year ended March 26, 2010, as compared to 68.3% for the year ended March 27, 2009...Research and development expenses increased to $11 million for the year ended March 26, 2010, as compared to $8.9 million for the year ended March 27, 2009...Net loss increased to $51.2 million for the year ended March 26, 2010, as compared to $25.5 million for the year ended March 27, 2009...
The motion picture and consumer electronics markets are highly competitive, and we face competitive threats and pricing pressure in these markets. Our primary competitors for our RealD Cinema Systems include Dolby, Xpand, MasterImage, IMAX (IMAX) and others. As of December 25, 2009, these competitors had enabled approximately 1,960, 1,560, 500, 150 and 150 worldwide theater screens, respectively, as compared to our 4,286 RealD-enabled worldwide theater screens.
Our primary competitors in the 3D consumer electronics market include Dolby, NVIDIA Corporation (NVDA), Panasonic (PC), Sensio Technologies, Inc. (SIO), Sony Electronics (SNE) and Xpand. While the 3D consumer electronics market is new and rapidly developing, we must compete with companies that enjoy competitive advantages in the consumer electronics industry.
- Company website
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