TechWeb

Yangaroo Reports Second Quarter Results

Aug 28, 2012 (04:08 PM EDT)
URL: http://www.techweb.com/show-press-release/X920011/yangaroo-reports-second-quarter-results.html

Record Growth With Revenues Up 104% Yr Over Yr, and 15% Qtr over Qtr

TORONTO, Aug. 28, 2012 /PRNewswire/ - YANGAROO Inc. (TSX-V: YOO, OTC: YOOIF), the industry's leading secure digital media management company, today announced its results for the Second Quarter ending June 30th, 2012. Revenue for the second quarter was $629,352, 104% higher than the revenue for the same period in 2011 and 15% higher than the previous quarter. As in the previous quarter, growth was strong in both Advertising and Entertainment. Revenue for the first 6 months of the year was $1.18 million, up 101% over same period in 2011.

Highlights:

  • Revenue growth 104% yr over yr and 15% qtr over qtr
  • EBITDA improved 59% yr over yr and 31% qtr over qtr
  • Advertising up 42% quarter over quarter
  • Net loss down 68 % over same period in 2011
  • US revenue from all sources up 26% qtr over qtr

"YANGAROO has once again seen record revenues in the quarter," said Gary Moss, President and CEO, YANGAROO Inc. "This is particularly significant in what is traditionally a slow period, with higher revenues a result of increased usage by existing clients, the addition of new clients, and the migration from SD to HD for music videos and television advertising. This has been a particularly exciting period, with the company on target for profitability, plus the completion of significant new technology enhancements focused on our advertising clients, who have provided overwhelmingly positive feedback."

Summary of operating results for the periods ended June 30th:

$CDN Six months Second quarter
  2012 2011 2012 2011
Revenue  1,176,174 583,775 629,352 307,976
Interest income 611 883 67 509
EBITDA (523,253) (1,765,646) (213,706) (517,608)
Net loss for the period (1,380,500) (3,596,504) (709,891) (2,239,933)
Loss per share (basic & diluted) (0.01) (0.03) (0.01) (0.02)

The full text of the financial statements and Management Discussion & Analysis is available at www.yangaroo.com and at www.sedar.com.

About YANGAROO:

YANGAROO is a company dedicated to digital media management.  YANGAROO's patented Digital Media Distribution System (DMDS) is a leading secure B2B digital cloud based solution focused on the music and advertising industries. The DMDS solution provides more accountable, effective, and far less costly digital management of broadcast quality media via the Internet. It replaces the physical, satellite and closed network distribution and management of audio and video content, for music, music videos, and advertising to television, radio, media, retailers, and other authorized recipients. The YANGAROO Awards platform powers many of North America's major awards shows.

YANGAROO has offices in Toronto, New York, Los Angeles, and Dallas. YANGAROO trades on the TSX Venture Exchange (TSX-V) under the symbol YOO and in the U.S. under OTCBB: YOOIF.

The statements contained in this release that are not purely historical are forward-looking statements and are subject to risks and uncertainties that could cause such statements to differ materially from actual future events or results. Such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

 

SOURCE YANGAROO Inc.