Archives for February 2, 2012

Avid edits HD on iPad

Avid offers storyboard and frame-by-frame editing methods.

Leading film and video editing tool developer Avid released its first application for the iPad,  “leveraging decades of experience working closely with the world’s leading movie and television studios.”

The company says its Avid Studio app is “easy enough for first-timers, yet sophisticated enough for more advanced editors” and is the first iPad app for video editing to offer frame-by-frame editing accuracy and access to all kinds of media.

The introductory price is $5.

More information is here.


Stan Freimuth named CEO of Presstek

Stanley E. Freimuth was named chairman, president and CEO, of Presstek Inc., Greenwich, Conn., effective Feb. 13. Presstek is a digital offset printing supplier. Freimuth, who has been a member of the Presstek board since 2009, replaces Jeffrey Jacobson, who is leaving the company to accept a new position.

Freimuth, 65, spent nearly 25 years with Fujifilm, where he ran the company’s U.S. graphic systems business for 17 years and went on to serve as COO and senior executive vice president and chief administrative officer, with responsibility for al U.S.  Fujifilm businesses.

Shutterfly announces 58 percent increase in fourth quarter revenues

Jeff Housenbold, president and CEO, Shutterfly

Shutterfly's Jeff Housenbold

Shutterfly Inc., Redwood City, Calif., reported fourth-quarter net revenues were $263.8 million, a 59-percent year-over-year increase.

In the fourth-quarter, Personalized Products and Services net revenues totaled $218.9 million, a 77 percent  year-over-year increase, and represented represented 83 percent of total net revenues.

Net revenues from Prints totaled $40.3 million. Commercial Print net revenues totaled $4.6 million.

Net income in the quarter was $ 35.411 million, compared to $ 32.513 million last year.

For the full year, net revenues totaled $473.3 million, a 54 percent year-over-year increase. Personalized Products and Services net revenues totaled $374.7 million, a 71 percent  year-over-year increase, representing 79 percent of total net revenues. Net revenues from Prints totaled $85.0 million. Commercial Print net revenues totaled $13.5 million, a 165 percent year-over-year increase. GAAP net income was $14.0 million, compared to $17.1 million in 2010.

For the coming quarter, Shutterfly is projecting net revenues to range from $83 million to $85 million, a year-over-year increase of 45-49 percent. For the full year, the company expects net revenues from $550-$560 million.

“Our strategic investments throughout 2011, combined with our focus on strong execution, diverse product offerings and improved efficiencies led to record revenues, adjusted EBITDA, and free cash flows,” says Jeffrey Housenbold, president and CEO. “We continue to outpace the industry in terms of innovation, user experience, quality, and customer service. With the social expression and personal publishing markets still in the early stages, Shutterfly is well prepared to extend our leadership position in these large markets.”


Curtain call: Kodak seeking exit from theatre sponsorship

The Wall Street Journal reports Eastman Kodak Co. aims to cut costs in its Chapter 11 restructuring by getting out of its $75 million, 20-year sponsorship agreement for exclusive naming rights to the Kodak Theatre,  the Academy Awards for the past decade. Kodak signed the deal in 2000.


Business Journal: Lifetouch closing Tennessee plant

The Minneapolis/St. Paul Business Journal reports Lifetouch Inc., Eden Prairie, Minn., is shuttering a plant in Chattanooga, Tenn., acquired through its purchase last year of Olan Mills Inc. The Chattanooga Times Free Press reported Tuesday tthe city will lose 383 jobs after the closing of two Olan Mills facilities, but the company will keep open a third Chattanooga facility, which it bought in 1999. That plant can employ up to 350 people.