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PRESS RELEASE: Concord Camera Corp. Unveils Frame & Store™ Photo Storage Solution at PMA
Innovative system offers consumers an affordable, convenient and stylish way to organize photo prints.###
LAS VEGAS, NV, March 8, 2007 - Concord Camera Corp. ("Concord") (Nasdaq: LENS) a leader in award-winning, high-quality, affordably-priced cameras, today unveiled the Frame & Store Photo Storage System at the PMA trade show. Developed based on extensive consumer testing, this exciting and innovative new photo organization and storage solution consists of the Frame & Store Photo Storage Cartridge, the Frame & Store Photo Storage Frame and the Frame & Store Decorative "Lock & Load" Frame. "The Frame & Store Photo Storage System meets a significant unmet need among consumers for a complete, yet affordable solution to conveniently organize and share printed photos" said Urs Stampfli, Senior Vice President and Director of Global Sales and Marketing at Concord. "With the increased demand in digital prints, and the need to organize and share large numbers of older prints, Frame & Store is a superior solution for consumers to eliminate inefficient and unorganized means of photo storage such as shoe boxes and unprotected photo finishing envelopes." Stampfli added.
Frame & Store Photo Storage Cartridge
The Frame & Store Photo Storage Cartridge is the basis for the entire photo storage system and enables consumers to see and store 27 photo prints (4" x 6" or smaller), negatives and/or a photo CD. The cartridge fits in any standard CD or DVD storage rack and features a labeling system for easy identification of the event that the photos stored inside the cartridge represent. The Frame & Store Photo Storage Cartridge is available in two versions, one designed specifically for photo finishers to offer their customers a superior alternative to standard photo finishing paper envelopes or for consumers to conveniently and easily organize and retrofit their existing photos that will retail at $0.99. The enhanced version of the Frame & Store Cartridge doubles as a storage frame for display of a favorite photo and will be available in an array of stylish colors for consumers to purchase at retail for $3.98 per 2-Pack.
Frame & Store Decorative Frame
The Frame & Store Decorative Photo Frame enables consumers to convert any Frame & Store Photo Storage Cartridge into a stylish photo frame suitable for home decor. The Decorative Frame features an innovative "Lock & Load" system, that enables consumers to easily interchange their photos displayed in the frame with another set of memories by merely sliding in (loading) a different Frame & Store Photo Storage Cartridge. Available in an array of stylish colors such as Piano Black, Star White, Burgundy Red and Metallic Silver, the Lock & Load frame features a flexible and unique stand design that swivels 360 degrees to instantly change the frame orientation from horizontal to vertical. This fashionable frame makes a perfect gift for friends and family so that photos from an entire event can be stored in the frame, while displaying the favorite image.
Concord is currently developing a full line of products and accessories around the patent pending Frame & Store Photo Storage System that will enhance the consumer's photo experience including innovative and stylish storage racks and decorative desk accessories made specifically for the Frame & Store cartridges.
About Concord Camera Corp.
Concord Camera Corp. ("Concord" or "Company"), through its subsidiaries, is a global provider of popularly priced, single-use and 35mm traditional film cameras. Concord markets and sells its cameras under the trademarks POLAROID, CONCORD and JENOPTIK through in-house sales and marketing personnel and independent sales representatives. The POLAROID trademark is owned by Polaroid Corporation and is used by Concord under license from Polaroid. CONCORD is a trademark and/or registered trademark of Concord in the United States and/or other countries. Frame and Store and the Frame and Store logo are trademarks of Concord Camera Corp. in the United States and/or other countries The JENOPTIK trademark is owned by Jenoptik AG and is used by Concord under license from Jenoptik AG. Learn more about Concord Camera Corp. at http://www.concord-camera.com.
Except for the historical information contained herein, statements in this press release are forward looking and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements involve risks and uncertainties that may affect the Company's business and prospects, including the risks discussed under "Risk Factors" and disclosures in the Company's Annual Report on Form 10-K for the fiscal year ended July 1, 2006 and subsequently filed reports. Such forward-looking statements include, without limitation, statements regarding expected cost reductions, anticipated or expected results of the implementation of the Company's restructuring initiatives, cost-reduction initiatives and possible new business initiatives; anticipated financial benefits of de-emphasizing the sale of digital cameras; eliminating reliance on internally designed and manufactured digital cameras and increasing the design, co-development and purchase of digital cameras from outsourced manufacturers and increasing the emphasis on the sale of single-use and 35mm traditional film cameras; the viability of marketing and selling cameras and competing in the camera market; the cost structure requirements needed to maintain a presence in the camera market and to market and sell cameras; the development of the Company's business; anticipated revenues or capital expenditures; preliminary estimates of the potential range of royalties the Company may have to pay to two entities for alleged infringement; its expectation of increases in sales to certain customers; its ability to maintain or improve gross profit on the sale of its products; and projected profits or losses and other statements contained in this press release regarding matters that are not historical facts are only estimates or predictions. No assurance can be given that future results will be achieved. Any forward-looking statements contained in this press release represent the Company's estimates only as of the date hereof, or as of such earlier dates as are indicated, and should not be relied upon as representing estimates as of any subsequent date. While the Company may elect to update forward looking statements in the future, it disclaims any intent or obligation to do so, even if the estimates change.
(First posted on Saturday, March 10, 2007 at 13:21 EST)