Brillian Corporation (BRLC-NASDAQ)
Interview with:
Vincent Sollitto, Jr., President and CEO
Business News, Financial News, Stocks, Money & Investment Ideas, CEO Interview
and Information on their
rear-projection HDTVs targeted at high-end video/audio OEMs, high-end video/audio retailers, ProAV/CEDIA distributors.


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Brillian Corporation is one of the few that has been able to master LCOS technology and participate in the explosion that is going on with HDTV and home theatre

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Brillian Corporation

1600 North Desert Drive
Temp, AZ 85281
Phone: 602-389-8888

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Vincent Sollitto, Jr.
President and CEO

Interview conducted by:
Lynn Fosse, Senior Editor
April 7, 2005

Vincent F. Sollitto, Jr.
President and Chief Executive Officer

Brillian Corporation's President and Chief Executive Officer brings 33 years of management and engineering experience to his position and is responsible for driving the company's strategic direction. Prior to joining Brillian, Sollitto was President and Chief Executive Officer of Photon Dynamics, Inc., a manufacturer of flat-panel-display inspection, test, and repair equipment. He helped lead the company through two follow-on public offerings, raising more than $80 million and $100 million in 2000 and 2002 respectively; completed the acquisition of five public and private companies; and was instrumental in growing the company's revenues from $12 million to $94 million. He previously worked at Fujitsu Microelectronics as General Manager of the Logic Products unit, after heading all technical operations for an IBM-funded start-up, Supercomputer Systems, Inc. He also worked at IBM for more than 21 years in a range of increasingly responsible positions, with a final assignment as Director, Technology and Process, for the Enterprise Systems headquarters.

Sollitto earned his bachelor of science degree in Electrical Engineering from Tufts University in 1970. He also continued his education in management, business, and technology at Syracuse, Cornell, and Carnegie Mellon Universities. A holder of four technical patents, Sollitto is a Director of several companies, including Ultratech and Applied Films, which are NASDAQ-listed firms, as well as RAVE LLC and Qubiclight Corp.

Company Profile:
Brillian Corporation designs and develops rear-projection HDTVs targeted at high-end video/audio OEMs, high-end video/audio retailers, ProAV/CEDIA distributors, and their base of dealers and custom installers looking for breakthrough performance and image quality. The company is the first and only provider of Gen II LCoSTM technology used in these products. In addition to its high-definition televisions, Brillian also offers a broad line of LCoSTM microdisplay products and subsystems that OEMs integrate into proprietary HDTV products, multimedia projectors, and near-to-eye products such as monocular and binocular headsets. Brillian's LCoSTM microdisplay technologies address the market demand for a high-performance display solution with high image fidelity, high-resolution scalability, and high contrast ratios.

CEOCFOinterviews: Mr. Sollitto, will you tell us about your background with Brillian?
Mr. Sollitto: “I joined Brillian in June of 2003. I had retired earlier in the year from my last position of CEO at Photon Dynamics, Inc., a position I held for seven years. I am an electrical engineer and I have managed high-tech activities for more than thirty years. My interest in Brillian was the outstanding technology and an interest in the display industry, which I have had for many years, and the opportunity to participate in the explosion that is going on with HDTV and home theatre.”

CEOCFOinterviews: How has your vision played out so far?
Mr. Sollitto: “The technology is very exciting. Here at Brillian we have the largest Liquid-Crystal-on-Silicon (LCoS™) microdisplay manufacturing facility in North America with 25,000 square feet of clean room. The company has been manufacturing microdisplays for about five years. The technology is one that has been difficult for many to master and Brillian is one of the few that has been able to do that. It was clear that the industry wanted to see more confidence in the supply chain for LCOS as it competes against DLP (Digital Light Processing) and LCD (Liquid Crystal Display) rear-projection televisions. We made a decision to manufacture a very high-end HDTV, a 65-inch rear-projection television with a select group of partners. We demonstrated that television in January 2004 at the Consumer Electronics Show in Las Vegas. We began manufacturing and shipping televisions in July 2004. Unfortunately, we had a hiccup in the supply chain: our light engine partner was unable to complete the manufacturing agreement, so we had to stop shipment for a little while and regroup. We have taken on the light engine manufacturing ourselves. We have licensed the technology and now make the light engines and televisions in-house and have begun shipping again. We are in the process of seeking out a strategic partner, who will serve as our manufacturing partner for light engines, to lead us to high-volume shipments in the second half of this year.”

CEOCFOinterviews: Is there a brand under which these go out?
Mr. Sollitto: “The television objective is to demonstrate the technology, and to sell to OEM and very high-end dealers through our own brand. We are selling to people who will be involved in ProAV/CEDIA distributions and home theatre installations. This will include restaurants, hotels, convention centers, as well as new home construction where home theatre installation goes into the house at the time of construction. We will also sell to OEMs, who will put their names on the televisions and customize them to their particular participation in the industry. We believe that this allows us to achieve a modest share in the market but because we have a highly leveraged business plan, we do not need to have a very high participation in order to hit our targets. We think that at an annual volume of only 30,000 televisions per year, we can achieve 13% operating profit. That is a tremendous opportunity for us.”

CEOCFOinterviews: Are you at the beginning of a market explosion?
Mr. Sollitto: “We really are! This is a second start for us since we entered the market last year, but we have regrouped and started again this year.”

CEOCFOinterviews: You mentioned some competing technologies; why is LCoS™ superior?
Mr. Sollitto:DLP is a very expensive technology and, as a result, DLP televisions are manufactured with a single imager and a light engine that uses a color wheel to sequentially send the colors to your eye. This occurs very quickly so that your eye integrates the actual information. With LCoS™ technology, we use three imagers, one for each of the three primary colors. Therefore, the picture is painted on the screen in such a way, that it looks like how you would see it in real life. As a result, we handle color, grey scale, and motion much better and the picture quality is better than DLP. Because of the low cost of LCOS, it is possible to make a three-imager solution economically viable for consumers. That’s the real advantage of it. One of the interesting things that has happened recently is that Sony Corporation (NYSE: SNE) announced earlier this year at CES that they would enter the rear-projection television market with an LCOS television. The people that have seen that Sony $13,000 television believe it compares favorably with our picture quality. There is an opportunity with a lot of different technologies and players. Our niche is the high-end where the consumer wants the best television picture they can get. We think that the market is large enough to support our objectives.”

CEOCFOinterviews: What other qualities differentiate your television from the other high-end models?
Mr. Sollitto: “The first thing that you have to start with is a very good picture. We have high contrast ratios, excellent grey scale. One of the things that differentiates us is outstanding uniformity. All the pixels across all three devices are mastered electronically to support a terrific picture. We then wrap our technology in the best supporting technologies that are available. We have the best anti-reflective screens and the best viewing angle in the industry. We have the best features. For example, most televisions have three inputs; we have thirteen. Most do picture-in-picture, but no other company does picture-in-picture with both pictures in high definition. We also have the best audio system with a 30-watt per-channel sound system.”

CEOCFOinterviews: How are you marketing your product?
Mr. Sollitto: “At CES in Las Vegas, we showcased our HDTV in a suite and provided one-on-one demonstrations with key prospects. For the International Home Theatre’s Association and other shows, we implement the same process. Once potential customers have seen our HDTVs and expressed an interest, we discuss options, including designing a unique product for them. At that point, it becomes their product. We do not market directly to the consumer; our customer and/or their dealers handle consumer marketing.”

CEOCFOinterviews: Once this group recognizes the benefits of the technology, will word-of-mouth take you quite a distance?
Mr. Sollitto: “These people are installing $50,000 or $150,000 home theatres, and what they want is the best technology they can get because they intend to put excellent speaker systems with it and a variety of input sources. They are going to be recommending to their customers what they should be putting into their home theatres. What they like about our LCoS™ HDTVs are all the added features for ProAV, CEDIA and home theatre applications. Last summer, we started a pilot program right here in Phoenix with a handful of these kinds of dealers. They gave us suggestions on features they would like to see. We were able to add those features, and now as we re-launch it into the space, all of the professionals who see it believe it is the best television they have ever seen.”

CEOCFOinterviews: Will you tell us about the financial picture of the company? 
Mr. Sollitto: “Well that is the biggest issue that I am working presently. We had a serious technology issue last year and we needed to demonstrate the ability to put together a road map to high-volume manufacturing for the light engine. We have done that and now we are implementing that plan and demonstrating what we will need to be successful. Right now, Brillian has enough cash to make it for the early part of this year, but in order to finance the actual explosion of growth for the company, we will be looking for additional financing for 2005.”

CEOCFOinterviews: In closing, why should investors be interested and what should they know that doesn’t jump out when they look on the surface?”
Mr. Sollitto: “There are two things: Clearly the company’s current valuation is based on the risk that we will be unsuccessful in our business plan. I was in a similar situation at Photon Dynamics back in 1998 when the company’s stock dropped to $2.00 and our market cap was $16 million. Investors were very concerned about the company’s ability to compete in a market with very large competitors. We proved that we could do it. We turned the company around and the stock eventually went to $94 and the market cap is today in the $300 to $400 million range. There is an opportunity here to participate in the very exciting HDTV market. There is also an opportunity for excellent return. Of course, it is high-risk opportunity because this is high-tech. Our investors need to be willing to make those kinds of investments and if they are willing, I think they are going to get a chance to enjoy very significant returns.”


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“The technology is very exciting. Here at Brillian we have the largest Liquid-Crystal-on-Silicon (LCoS™) microdisplay manufacturing facility in North America with 25,000 square feet of clean room. The company has been manufacturing microdisplays for about five years. The technology is one that has been difficult for many to master and Brillian is one of the few that has been able to do that." - Vincent Sollitto, Jr.


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