Evans & Sutherland Computer Corporation (NASDAQ: ESCC) announced today that it recently entered into a license agreement with respect to certain elements of E&S’s core laser technology. Under the terms of the agreement, the Company received $500,000 for a non-exclusive license and will receive subsequent royalty payments as the licensee exploits this technology. For strategic reasons, the name of the licensee will remain confidential until they make their product announcement.
David H. Bateman, President and Chief Executive Officer, stated, “This initial license is part of our plan to continue to explore additional ways to exploit the technologies we have developed and leverage the significant R&D investments we have made. It is a testament to the quality and value of the intellectual property E&S is generating as a by-product of its innovative laser display technology development. These developments have resulted in a rich portfolio of technologies and intellectual property rights. We plan to pursue additional opportunities for these technologies with other potential partners and licensees.”
About Evans & Sutherland
Evans & Sutherland’s Digital Theater Division, in conjunction with its wholly owned subsidiary, Spitz Inc., creates cutting-edge, full-dome digital entertainment and advanced video display systems. E&S has developed Digistar 3, the world’s leading digital planetarium with full-dome video playback, real-time computer graphics, and a complete 3D digital astronomy package fully integrated into a single theater system. This technology allows audiences to be immersed in full-color, 3D computer-generated worlds and to interact with these worlds. As a full-service system provider, E&S also offers advanced laser based displays including the revolutionary E&S Laser Projector in addition to Spitz domes, SciDome, Spitz optical-mechanical star projectors, and a full range of theater systems from audio and lighting to theater automation. E&S markets include planetariums, science centers, themed attraction venues, and premium large-format theaters, and E&S products have been installed in over 1,300 theaters worldwide.
E&S’s Advanced Display Division is widely regarded as both a pioneer and leader in providing the world’s most advanced ultra-high resolution projection displays. The Advanced Display division also provides enabling systems for high performance applications and possesses innovative core laser projection technology that it is currently commercializing.
Visit the E&S website at http://www.es.com.
Statements in this press release which are not historical, including statements regarding E&S’s or management’s intentions, hopes, beliefs, expectations, representations, projections, plans, or predictions of the future are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.
E&S is a registered trademark of Evans & Sutherland Computer Corporation.