Xilver and James Thomas license Super Vision portfolio
Super Vision has signed two more licensees for its LED patent portfolio, and has also reported its financial results.
The two licensees are James Thomas Engineering, Inc. of Knoxville, Tennessee and Worcester UK and Xilver, B.V. of Gronsveld in The Netherlands.
Just days previously, James Thomas announced a patent licensing agreement with Color Kinetics (see Color Kinetics licenses to James Thomas Engineering).
Mike Garl, President of James Thomas Engineering, Inc. USA, stated: "Throughout James Thomas Engineering's 28 year history we have always worked to bring new and innovative products to the market that would enable designers to expand their capabilities. The development of our PixelRange of high intensity LED fixtures is a continuation of that philosophy and the signing of this agreement will allow us to concentrate our resources on further development of this technology and fixture design."
Tommy Voeten, Founder & Director of Xilver B.V., stated: "Xilver has demonstrated the spectacular effects of LED lighting in our recent landmark display, The Galleria Project in Seoul, South Korea, which has won three distinguished international design awards.
"Xilver is dedicated to growing its LED applications worldwide and is proud to be part of the LED Alliance that is working towards a free and open market for LED technology," continued Voeten.
"We greatly appreciate the support we have received from the LED industry," commented Brett Kingstone, Super Vision's President and CEO. "Recently we have seen an acceleration of interest both in our prior art portfolio and the LED Alliance."
Super Vision acquired its Variable Color Lighting System patent from High End Systems in 2004, and later in the year acquired the Laidman technology portfolio (see Patents: Color Kinetics and Super Vision).
Super Vision reports results
Super Vision reported that its total revenue for the quarter ended December 31, 2004 increased by 15% to approximately $3.0 million from approximately $2.6 million in the same quarter of 2003. Howver, the company recorded a net loss of $179,128 for the fourth quarter of 2004 compared to a net loss of $294,305 in the same quarter last year.
For the full calendar year 2004, revenues increased by 13% to approximately $11.9 million from approximately $10.6 million in 2003. Net loss for 2004 was $332,201 as compared to a net loss of $414,287 in 2003. This 20% improvement was mainly due to the positive effects of higher revenues for the year and sustained operating expenses partly offset by lower gross margins in 2004.
Dan Regalado, the company's CFO and COO stated, "2004 was a year of positive transition as Super Vision began positioning itself to capitalize on the expanding global market for LED lighting systems. With the increase in revenue from our LED products, we will continue to work towards reducing cost and increasing margins."