FORT LAUDERDALE, Fla., Jan. 21, 2013 /PRNewswire/ -- The Singing Machine Company, Inc. ("Singing Machine" or the "Company") (OTCBB: SMDM) traveled to Las Vegas last week for the 2013 Consumer Electronics Tradeshow, where the company debuted its new karaoke line for 2013.
Every year, CES attracts national and international attention as the premiere show for consumer electronics companies to come together to unveil their newest technology. Singing Machine was no exception, as the Company debuted its new Singing Machine "Home" project. More than just a karaoke system, the Company showcased a working demo of "Home" at CES, which features wireless Bluetooth ™ speakers, WiFi connectivity, and direct connection to a digital streaming karaoke service with access to over 10,000 karaoke songs. "Home" is the industry's first all-digital karaoke system that delivers instant access to high-quality lyrics over full-color high definition video backdrops on your television, making "Home" the entertainment hub of any home. The Company intends to ship the Singing Machine "Home" this fall.
The announcement of the Singing Machine "Home" system coincides with the Company coming fresh off a strong Holiday season. The Company reported that during the holiday period, its Singing Machine Mobile Karaoke App was the #3 most downloaded app in the iTunes ™ music section. The Company also recently reported its 2 nd quarter earnings where the Company announced $14.3 million in net sales and approximately $1.4 million in net income for the quarter.
Gary Atkinson, Singing Machine CEO, commented, "We're very excited about launching the Singing Machine 'Home'. When designing the 'Home' our goal was to create the best possible karaoke entertainment system in the market. Period. We designed it around today's modern consumer that demands instant access to content, social sharing features, and just plain fun." Added Bernardo Melo, VP of Global Sales and Marketing, "CES was a big success. We had tremendous meetings and overwhelmingly positive feedback during the show. Karaoke continues to be a hot item at retail and we look forward to continuing the trend."About The Singing MachineIncorporated in 1982, The Singing Machine Company develops and distributes a full line of consumer-oriented karaoke machines and music under The Singing Machine ™ and SoundX ™ brand names. The first to provide karaoke systems for home entertainment in the United States, The Singing Machine is available in North America, Europe and Australia. The Singing Machine is also the first to offer digital music downloads for play on home karaoke machines. See www.singingmachine.com for more details. Forward-Looking Statements This press release contains forward‑looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward‑looking statements are based on current expectations, estimates and projections about the Company's business based, in part, on assumptions made by management and include, but are not limited to statements about our financial statements for the fiscal year ended March 31, 2012. You should review our risk factors in our SEC filings which are incorporated herein by reference. Such forward‑looking statements speak only as of the date on which they are made and the company does not undertake any obligation to update any forward‑looking statement to reflect events or circumstances after the date of this release. SOURCE The Singing Machine Company, Inc.
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