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News and Information Article
Retailer Reports HC3000U Model Grabbed 45 Percent Sales Share in 2006
NEWARK, Del., Nov. 14 /-FirstCall/ -- Theater Xtreme
Entertainment Group (OTC Bulletin Board: TXEG), a Newark, Del.-based home
cinema retailer and franchisor of home cinema design and installation
centers, today announced sharp increases in sales of Mitsubishi Digital
Electronics America home theater front projectors at Theater Xtreme outlets
this year.
Theater Xtreme said Mitsubishi models now rank as its top brand. In
particular, the HC3000U high-definition, 720p home-theater DLP projector,
has accounted for 45 percent of Theater Xtremes projector sales so far in
2006.
"The HC3000U, priced under $2,000, offers remarkable quality at an
affordable price, and customers see the difference on screen and in their
wallets," said Theater Xtreme CEO Scott Oglum. "Our stores have as many as
10 projectors on display with screen sizes ranging from 80 inches to over
10 feet. Our large selection and unique merchandising strategy helps
consumers identify the best value quickly."
Theatre Xtreme is selective of the manufacturers it chooses to display
in its retail stores. Mitsubishis high performance features coupled with
aggressive prices helped propel sales. Theater Xtreme looks forward to
continued growth with Mitsubishis products throughout 2007.
Marty Lash, Mitsubishi Digital Electronics Americas sales manager for
home theater projectors, said the HC3000Us brisk sales at Theater Xtreme
pointed to the growing importance of Theater Xtreme as a Mitsubishi outlet.
"TheaterXtreme is one of the few national retailers to focus
exclusively on the real-movie-theater-for-the-home marketplace," Lash
stated. "We are gratified that our projectors are selling so well in their
stores, and glad to be on board early in their national expansion plan."
Stemming from the success of its HC3000U, Mitsubishi recently
introduced its HC5000BL 1080p home theater projector. The HC5000BL has
already begun to receive accolades from the press and is priced under
$4,500. The HC5000BL is expected to be a top seller at Theater Xtreme.
Preparing for anticipated holiday demand, Theater Xtreme placed its largest
advance order of projectors in its history.
"Both the HC3000U and the forthcoming HC5000BL are prime examples of
Mitsubishis bold entree to the mid-market home theater space," said Ken
Warren, Theater Xtremes President and Chief Operating Officer. "Theyre
going for a dominant position and were thrilled to be a growing retail
channel for them."
To be added to Theatre Xtremes investor contact lists, please contact
Haris Tajyar at htajyar@irintl.com or 818-382-9700.
About TheaterXtreme Entertainment Group, Inc.
TheaterXtreme currently has 10 stores located in seven states, with an
additional 14 stores under development. Theater Xtreme designs, sells, and
installs affordable, large-format, front projection home cinemas through
both its company-owned design centers and through franchised design and
installation centers. Its home cinema packages feature OneView(TM), a media
controller that combines on-screen movies, music, photos, games, and
Internet access with the touch of a button. The company focuses on
middle-income consumers in the home entertainment marketplace, emphasizing
value and performance across its line of home cinema audio, video,
furnishings, and accessories.
About Mitsubishi Digital Electronics America Presentation Products
Division
Mitsubishi Digital Electronics Americas Presentation Products Division
markets an extensive line of professional presentation, front-projection
home entertainment display systems and monitors, and is known for its
award-winning, high-quality, accurate color reproduction technology.
Products are sold through authorized distributors, resellers, dealers, and
system integrators throughout the United States. Mitsubishi Digital
Electronics America is located at 9351 Jeronimo Road, Irvine, Calif.,
92618. For more information, please call 888-307-0312 or visit
http://www.mitsubishi-hometheater.com.
SAFE HARBOR STATEMENT REGARDING THEATER XTREME ENTERTAINMENT GROUP (THE
COMPANY) -- Some of the information presented in this press release
constitutes forward-looking statements made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements represent the Companys judgment regarding
future events, and are based on currently available information. Although
the Company believes it has a reasonable basis for these forward-looking
statements, the Company cannot guarantee their accuracy and actual results
may differ materially from those the Company anticipated due to a number of
known and unknown uncertainties, of which the Company is not aware. Factors
which could cause actual results to differ from expectations include, among
others, the ability of the Company to sell franchises, success of the
franchise stores, location of stores, delay or loss of key products from
vendors, disruption of product delivery from overseas suppliers, changes in
regard to significant customers or suppliers, increased competition from
companies with more expertise or experience, technological improvements in
the home theater market which may render the Companys offerings obsolete,
less competitive, or too expensive, material reduction in the demand for
home theaters, and lack of sufficient capital to allow the Company to
achieve its strategic objectives. For additional information concerning
these and other important factors that may cause the Companys actual
results to differ materially from expectations and underlying assumptions,
please refer to the reports filed by the Company with the Securities and
Exchange Commission.
COMPANY CONTACT:
Justin Schakelman
Theater Xtreme Entertainment Group
+1-302-455-1334
justin@theaterxtreme.com
http://www.theaterxtreme.com
MITSUBISHI CONTACT:
Nancy Napurski
Lionheart Communications
+1-310-283-0704
nnapurski@lionheartpr.com
INVESTOR/MEDIA CONTACT:
Haris Tajyar
Investor Relations International
+1-818-382-9702
htajyar@irintl.com
http://www.irintl.com
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