Back to DDMG
Digital Domain Media Group Announces Shareholder Call to Discuss Improvements in Labor Utilization and Developments in Patent Litigation and Licensing

Digital Domain Media Group, Inc. (NYSE: DDMG), a leading digital production company focused on visual effects, original content animation and major studio co-productions, will host an investor conference call with John Textor, chairman and CEO, on Wednesday, July 18, at 11:00 a.m. EDT to discuss the following topics:

  • Improvements to the labor utilization rate – The company will provide an update on improved labor utilization rates across both its domestic and international facilities.
  • Favorable amendments to third-party outsourcing agreements – The company will discuss amendments to its agreements with RelianceMediaWorks Limited that eliminate on going liabilities and improve collaboration on marketing efforts between Digital Domain Media Group and RelianceMediaWorks Limited’s facilities in the UK and Mumbai.
  • Digital Domain Media Group’s patent protection and monetization – The company will provide an update to its ongoing patent protection initiatives, including an update on filed litigation, settlement discussions and resulting licenses of the company’s 3D conversion technology.
  • Virtual Performer – The company will review recent developments in its Virtual Performer business, including a discussion of reallocation of resources to meet demand from owners of high-impact intellectual property.
  • China and Abu Dhabi capacity expansion – The company will provide an update on plans to expand the company’s studios in China and Abu Dhabi to meet demand.
  • Strategic initiatives – The company will provide an update on strategic discussions aimed at increasing shareholder value.

The conference call will begin at 11:00 a.m. EDT and will be broadcast live over the Internet and can be accessed through the Investor Relations section of the company’s website at ddmg.co or directly at DDMG Investor Call. The call can also be accessed via telephone by calling 866-730-5770 (U.S.) or 857-350-1594 (International) and using the passcode 35604289. A replay will be available for seven days by dialing 888-286-8010 or 617-801-6888 (International) and using the passcode 53655621.

“We are making significant progress in improving our gross profit margin by both building revenue and reducing unutilized labor costs,” said John Textor, CEO of Digital Domain Media Group. “The recent developments outlined above have accelerated the rate of improvement not only by adding to revenue but also by enabling us to use our labor resources much more effectively.”

About Digital Domain Media Group

Digital Domain Media Group (DDMG: NYSE) leverages its expertise in digital visual effects (VFX) and computer-generated (CG) animation across a group of interrelated businesses. At its foundation is Digital Domain Productions (DDPI), an award-winning digital production company founded in 1993. This leading provider of visuals has contributed to more than 90 major motion pictures, including Titanic, the Transformers series, Pirates of the Caribbean: At World’s End and TRON: Legacy, hundreds of commercials, and recently created the virtual likeness of rapper Tupac Shakur for Dr. Dre’s show at the Coachella Valley Music Festival. Mothership, a DDPI subsidiary, focuses on creating advertising, entertainment and branded content from concept to completion, across multiple media platforms. DDMG, its work and its employees have been recognized with numerous awards, including seven from the Academy of Motion Picture Arts and Sciences. The company is building on its success in VFX to participate as a co-producer in major productions and is currently co-producing the upcoming live-action sci-fi feature film Ender’s Game, as well as virtual likenesses for Elvis Presley that will be jointly owned by CORE Media Group and DDMG. DDMG also converts two-dimensional (2D) imagery to three-dimensional (3D) imagery and holds key patents in this area. The company is also applying its CG expertise to produce original, family-friendly animated feature films at its subsidiary Tradition Studios. The first movie, The Legend of Tembo, is in pre-production and two more features are in development. The company’s education subsidiary, the Digital Domain Institute, sets a new standard in digital media education through a pioneering public-private partnership with The Florida State University College of Motion Picture Arts. DDMG is expanding its worldwide footprint of the highest quality visual effects and animation at the lowest possible cost through global partnerships in India and China. The company has studios in Los Angeles, San Francisco, Florida, Vancouver, Mumbai and London, and is currently establishing studios in Beijing and Abu Dhabi. http://www.ddmg.co

Safe Harbor Statement

Certain statements in this press release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include comments about the Company's plans, prospects, strategies and future performance. They are made on the basis of our management’s current expectations and beliefs, as well as a number of assumptions regarding future events and business performance as of the time the statements are made. Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control. These could cause actual results to differ materially from the results expressed or implied in the forward-looking statements.

Such differences may result from actions taken by the Company, as well as from developments beyond the Company’s control, including, but not limited to:

  • price volatility of the Company’s common stock;
  • changes in domestic and global economic conditions, competitive conditions and consumer preferences;
  • our dependence on a limited number of large projects each year, and the timing of revenue flows from those projects;
  • developments in the status of strategic initiatives taken by the Company;
  • audience acceptance of feature films we may co-produce; and
  • rapid technological developments, including new forms of entertainment.

Further information on these and other factors and risks that could affect our business is included in filings we make with the Securities and Exchange Commission from time to time, including under the heading “Risk Factors” in our Registration Statement on Form S-1. These documents are available on the SEC Filings subsection of the Investors section of the Company’s website at: http://www.ddmg.co

Information on our website is not part of this press release. All information provided in this press release is as of July13, 2012, and the Company undertakes no obligation to update publicly the information contained in this press release, or any forward-looking statements, to reflect new information, events or circumstances, or to reflect the occurrence of unanticipated events.

(c) 2014 Business Wire, Inc., All rights reserved. All of the news releases and other content contained herein are protected by copyright and other applicable laws, treaties and conventions. Information contained in the releases is furnished by Business Wire's members, who warrant that they are solely responsible for the content, accuracy and originality of the information contained therein. Any copying or reproduction (other than for an individual user's personal reference), redistribution, reposting or other transmission or communication is expressly prohibited without prior written permission of Business Wire, Inc
Back to DDMG
Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki