YANGAROO Reports First Quarter Results
29 May 2014 - 11:00PM
Marketwired Canada
YANGAROO Inc. (TSX VENTURE:YOO) (OTCBB:YOOIF), the industry's leading secure
digital media distribution company today announced its results for the first
quarter ended March 31, 2014. Revenues for the first quarter of 2014 increased
18% compared to the first quarter of 2013. Awards Management Revenue increased
by 37% and Advertising Revenues were up 30% over same period in 2013. Quarter
over quarter revenue was down due in large part to seasonality. Operating
expenses during this period increased by 22% due mostly to expansion of the
Advertising sales and customer service team based in New York City.
"2014 has been a transitional period for Yangaroo," said Gary Moss, President
and CEO, YANGAROO Inc. "We set a goal of assembling the right team to lead
growth in the Advertising division and we now have the core team in place. The
impact has been immediate. We have signed 22 clients already, with a healthy
pipeline of prospective new clients, all pointing to significant sales growth in
the second half of the year. In addition, we have signed a first of its kind
deal, with Cablevision Media Sales. This growth momentum, coupled with the
expected retirement of all the debt, finally aligns the strategic goals and
capital structure of the company."
Summary of operating results for the periods ended March 31st:
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First Quarter
$CDN 2014 2013
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Revenue 899,612 763,103
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Adjusted EBITDA (loss) (402,234) (321,228)
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Adjusted normalized EBITDA (loss) (282,366) (198,176)
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Net loss for the period (494,881) (544,772)
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Loss per share (basic & diluted) (0.012) (0.033)
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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
is now the industry standard and powers most of North America's major awards
shows.
YANGAROO has offices in Toronto, New York, and Los Angeles. YANGAROO trades on
the TSX Venture Exchange (TSX-V) under the symbol YOO and in the U.S. under
OTCBB: YOOIF. For further information, please contact Gary Moss at 416-534-0607
ext.111 or visit www.yangaroo.com.
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. Neither the TSX Venture
Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
The Howard Group Inc.
Dave Burwell
1 (403) 221-0915
dave@howardgroupinc.com
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