Lyrtech renews long term contract with Neural Audio


    QUEBEC CITY, Sept. 18 /CNW/ - After numerous years of establishing itself
as a leading original design manufacturer (ODM), Lyrtech Inc. (TSX-V: LYT), a
worldwide leader in digital signal processing ("DSP") technologies with state
of the art EMS facilities, announced today it has signed another important
contract with long-term partner Neural Audio Corp., the market leader in
developing advanced audio and surround sound technologies. The renewed
engineering development and manufacturing contract, which is based on
comparable terms as the previous ones signed between the two companies,
furthermore establishes Lyrtech's long term business strategy of becoming one
of the leading original design manufacturing (ODM) companies in the rapidly
growing field of digital signal processing.
    "Lyrtech's ODM approach, leveraged by years of experience in electronics
engineering and manufacturing, fully complements our own strategy and need in
accelerating "time-to-market" when developing new solutions for our
customers," stated Geir R Skaaden, Neural Audio CEO. "Working with an ODM
partner who is dedicated to quality and meeting deadlines is critical to
survive in today's market, and Lyrtech has demonstrated rapid abilities to
fulfill these needs over the past four years we have worked together.
Furthermore, their strategy based on a one-stop shop model allows us to focus
on what we do best, thus accelerating our time-to-market tremendously."
    "This new contract from a long term partner demonstrates the versatility
of our robust ODM platform which, in this case, answers specific requirements
for audio product developers," said Miguel Caron, CEO of Lyrtech. "Our aim to
service a wide array of companies is beginning to materialize. Examples such
as this contract with Neural Audio confirm that our tailor suited product
development approach broadens our customer base and strengthens our strategic
positioning in the DSP market".
    Lyrtech started implementing its ODM strategy in 2003 when new management
joined the company. Through internal development and acquisitions, Lyrtech has
become one of the best positioned North American ODM company in the digital
signal processing (DSP) industry. Over the years, Lyrtech's investments have
broadened into a full range of solutions that helps its customers accelerate
their time-to-market, which has tremendous value in today's rapidly evolving
markets. This strategy has attracted and retained numerous customers
worldwide, a sign that Lyrtech is in a good position to profit from its

    About Neural Audio Corporation

    Neural Audio, through its Neural Surround-THX(R) Surround brand and
unique audio optimization technologies, has become the key enabler in the
delivery of high quality content for the TV, radio, game, Internet, home
theatre and mobile markets. Key broadcast partners and customers such as THX
Ltd., XM Satellite Radio, Yamaha Corporation, Sony Corporation, Pioneer
Electronics, Onkyo Corporation, Denon Electronics, Marantz America and Harris
Corporation have adopted Neural Audio technologies to provide the best quality
audio available today to their customers. For more information, please visit, or

    About Lyrtech Inc.

    Lyrtech is a worldwide leader in digital signal processing ("DSP")
technologies with state of the art EMS facilities. The Company develops and
manufactures advanced digital signal processing solutions for companies
worldwide, a vital technology to network and wireless communications, audio
and video processing, as well as electronic systems in all fields of
technology. Lyrtech offers a full range of DSP-FPGA development platforms, as
well as design, prototyping, and manufacturing of electronic products through
its Innovator division.
    Lyrtech works in partnership with industry leaders such as Texas
Instruments, The MathWorks, and Xilinx. Lyrtech's customers include many
prestigious names of the consumer electronics, telecommunications, aerospace,
and defense fields such as BAE Systems, Defence Research and Development
Canada (DRDC), the European Aerospace Defence and Space Company (EADS),
Fujitsu, Harris, ITT, Motorola, Neural Audio, NTT DoCoMo, and Samsung-Thales.
For more information please visit


    Certain statements made in this press release regarding Lyrtech's future
operations, expected financial position, future revenues, projected costs,
prospects, plans and objectives are forward-looking statements. These
forward-looking statements, by their nature, necessarily involve risks and
uncertainties that could cause actual results to differ materially from those
contemplated by the forward-looking statements. Lyrtech considers the
assumptions on which these forward-looking statements are based to be
reasonable at the time they were prepared, but cautions that these assumptions
regarding future events, many of which are beyond Lyrtech's control, may
ultimately prove to be incorrect. Factors and risks which could cause actual
results to differ materially from current expectations are discussed in
Lyrtech's annual report for the year ended December 31, 2006. Lyrtech
disclaims any intention or obligation to update or revise any forward-looking
statements. For additional information on risks and uncertainties relating to
these forward-looking statements, investors should consult Lyrtech's ongoing
filings, including its most recent annual report, found on SEDAR at

    The TSX Venture Exchange Inc. has not reviewed and does not accept
    responsibility for the adequacy and accuracy of this release.

    %SEDAR: 00014715E

For further information:

For further information: Miguel Caron, President and Chief Executive
Officer, Lyrtech Inc., (418) 877-4644,; Matthieu
Cardinal, Investor Relations, The Equicom Group Inc., (514) 844-6054,; Dakx Turcotte, Director, Marketing and Business
Development - Neural Audio Corporation, Email:, Office:
(425) 814-3200 x:135, Mobile: (206) 499-5855

Organization Profile


More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890