SRSL Srs Labs, Inc. (MM)

SANTA ANA, Calif., June 12 /PRNewswire-FirstCall/ -- SRS Labs, Inc. (NASDAQ:SRSL), the industry leader in surround sound, audio and voice technologies, revealed details today about their #1 leadership position in the global flat panel TV (FPTV) market during 2007. SRS Labs developed several new worldwide strategic business partnerships and maintained strong relationships with existing FPTV customers, resulting in a 28% increase in FPTVs sold worldwide utilizing SRS technologies. Additional strategic affiliations developed in early 2008 indicate SRS Labs global FPTV positioning will be even stronger by years end. (Logo: http://www.newscom.com/cgi-bin/prnh/20070322/LATH036LOGO) The world's leading TV manufacturers continue to identify SRS Labs as their audio partner of choice. Among the top ten 30" and larger FPTV brands reported by DisplaySearch, nine: Samsung; Sony; Panasonic; LGE; Sharp; Toshiba; VIZIO; Sanyo; and Hitachi feature SRS audio technology to provide improved surround sound enhancement. During 2007, SRS Labs signed licensing agreements with 10 new FPTV manufacturers including Sanyo, Skyworth and Loewe plus three of the top European TV manufacturers -- Beko, Vestel and Profilo. These new partnerships were key factors in SRS technologies being shipped in 28% more FPTVs in 2007 compared to 2006. According to data reported by DisplaySearch, the flat panel TV market experienced a 65% unit growth rate over 2006, making it the fastest growing CE market in 2007. 2008 is promising to be another breakthrough year as the market is predicted to grow by 30%, reaching a forecasted 118 million units. "We are very encouraged with our continued penetration into the FPTV market and are glad to see the phenomenal growth experienced by our strategic partners worldwide. We anticipate 2008 to be a landmark year with the introduction of a series of new innovative SRS technologies, our continued advancement into the market, and further development of more fruitful partnerships," said Allen Gharapetian, VP of Marketing for SRS Labs. DisplaySearch reported 91 million flat panel TV units shipped worldwide in 2007; of those, over 27 million units featured at least one or more SRS technologies. This resulted in SRS Labs realizing a 32% increase in revenues from technologies shipped in FPTVs compared to 2006. According to Consumer Reports' 2008 study of LCD and Plasma display TVs, SRS technologies were consistently featured in 38% of all models they tested confirming the dominant deployment of SRS Labs technologies in the market. When rating audio quality, the report concluded that, of the models awarded with the highest rating of "Excellent," 60% contained an SRS technology while none of these models contained any competitive audio technologies. Continuing into 2008, SRS recently announced that Sharp, one of the top five manufacturers of LCD TVs in the world, chose SRS Labs' TruSurround XT technology for their popular AQUOS line of LCD TVs designed for the Asian and European markets. Most recently, SRS formed a strategic multi-year licensing agreement with VIZIO, North America's fastest growing brand of HDTVs, providing them access to SRS technologies for their TVs and accessories. Additionally, Syntax-Brillian, manufacturer of the Olevia brand LCD TV, signed a deal to integrate TruSurround XT in their 2 Series and 6 Series 2008-2009 product lineup. To commemorate the company's success in the flat panel market, SRS Labs is giving away 3 VIZIO flat panel TVs featuring TruSurround XT surround sound technology (a 42" and 47" LCD and a 50" Plasma). The sweepstakes will take place June 10 to July 4, 2008. To enter for your chance to win, please visit http://www.srslabs.com/TVsweepstakes. About SRS Labs, Inc. Founded in 1993, SRS Labs is the industry leader in audio signal processing for consumer electronics. Beginning with the audio technologies originally developed at Hughes Aircraft, SRS Labs holds over 150 worldwide patents and is recognized by the industry as the foremost authority in research and application of human auditory principals. Through partnerships with leading global CE companies, semiconductor manufacturers and software partners, SRS audio, surround sound and voice processing technologies have been included in over one billion electronic products sold worldwide including HDTVs, mobile phones, portable media devices, PCs and automotive entertainment. In fact, SRS Labs is the de-facto standard of HDTV audio processing with nine of the top ten name brand flat panel TVs featuring SRS technology. Additionally, SRS Labs surround sound solutions provide the professional broadcast and recording industries with high-performance production, back-haul, storage, and transmission capability. SRS Labs supports manufacturers worldwide with offices in the US, China, Europe, Japan, Korea and Taiwan. For more information, visit http://www.srslabs.com/. Except for historical information contained in this release, statements in this release, including those by Mr. Gharapetian, may constitute forward-looking statements regarding our assumptions, projections, expectations, targets, intentions or beliefs about future events that are based on management's belief, as well as assumptions made by, and information currently available to, management. While the Company believes that its expectations are based upon reasonable assumptions, there can be no assurances that the Company's goals and strategy will be realized. Numerous factors, including risks and uncertainties, may affect the Company's actual results and may cause results to differ materially from those expressed in forward-looking statements made by or on behalf of the Company. Some of these factors include the acceptance of new SRS Labs' products and technologies, the impact of competitive products and pricing, the timely development and release of technologies by the Company, general business and economic conditions, especially in Asia, and other factors detailed in the Company's Form 10-K and other periodic reports filed with the SEC. SRS Labs specifically disclaims any obligation to update or revise any forward-looking statement whether as a result of new information, future developments or otherwise. SRS Labs, Inc. Contact: Press Contact: Cyndee Pelino, Sr. Marketing Manager Jim Noyd, Noyd Communications Inc. 949-442-5518 310-374-8100 http://www.newscom.com/cgi-bin/prnh/20070322/LATH036LOGO http://photoarchive.ap.org/ DATASOURCE: SRS Labs, Inc. CONTACT: Cyndee Pelino, Sr. Marketing Manager of SRS Labs, Inc. +1-949-442-5518, ; or Jim Noyd of Noyd Communications Inc., +1-310-374-8100, , for SRS Labs, Inc. Web site: http://www.srslabs.com/

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