OJsys, Inc., Announces Relocation of Its Executive Offices
June 21 2007 - 1:11PM
PR Newswire (US)
SAN FRANCISCO, June 21 /PRNewswire-FirstCall/ -- OJsys, Inc. (Pink
Sheets: OJSY), a developer and manufacturer of home media
technologies, announces the relocation of its U.S. executive
offices from San Jose, CA to San Francisco, CA. OJSY's wholly owned
subsidiary, NTN, Inc., was established in 2000 and is located in
Seoul, Korea. NTN develops and manufactures home media products
that include receivers/set top boxes, satellite receivers,
terrestrial receivers, receiver plus DVD RW combos, as well as
media center PC devices including satellite receivers, home
security devices, home automation devices, and digital recording
(PVR) functions. These products are designed to enhance
entertainment within the users' homes. Sales revenues for 2006 were
$6.8 million (a 26% increase from 2005) and net profit was
$700,000. OJSY projects sales revenue for 2007 will be $12 million
with a net profit of $2 million. OJSY's subsidiary NTN's customers
to date have been European companies such as Amstrad and Dixon, and
Middle-Eastern companies such as EuroStar. In order to meet the
growing demand for home media technology, NTN is currently
expanding its customer base to include U.S. businesses. Parks
Associates, the internationally recognized digital home technology
research firm, estimated that 82 million homes worldwide had
installed home networks, both wired and wireless as of 2005, and
that the total would balloon to approximately 145 million by 2010.
OJSY's CEO Henri Joubaud, said, "We ourselves are growing with the
digital home technology boom. We are encouraged by the fact that
the products we offer are what consumers are using worldwide and
that we will find more and more people that use the NTN devices and
products." Forward-Looking Statements This press release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, which are subject to the
safe harbors created thereby. These forward-looking statements are
based on current expectations and projections about future events
and financial trends. The words or phrases "believe," "will,"
"expect," "should" and similar words or expressions are intended to
identify forward-looking statements. In addition, any statements
that refer to expectations or other characterizations of future
events or circumstances are forward-looking statements. The
forward- looking statements are subject to risks, uncertainties and
assumptions that could cause actual results to differ materially
from those described in the forward-looking statements, including,
among other things, a concentration in the Company's revenue from
certain services and clients, a limited backlog, the Company's
ability to expand its markets, limited financial resources,
dependence on key personnel, the integration of acquired businesses
and competitive market conditions. These are representative of
factors which could affect the outcome of the forward- looking
statements. In addition, such statements could be affected by
general industry and market conditions and growth rates, general
domestic and international economic conditions and future incidents
of terrorism or other events that may negatively impact the markets
in which the Company competes. The Company undertakes no obligation
to publicly update or revise any forward-looking statements because
of new information, future events or otherwise. DATASOURCE: OJsys,
Inc. CONTACT: Paul DeRiso of Core Consulting Group,
+1-925-465-6088, +1-925-287-9704, fax, or , for OJsys, Inc.
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