Business
Mood Media Corporation's growth strategy delivers record Q2 Revenue and EBITDA
Record Q2 Revenue of $107.8M; up 62% from prior year Record Q2 Adjusted EBITDA of $30.1M...
About this update from Maximus Metals, Inc.
[{"type":"text","content":"\n\n\n\n\n\nRecord Q2 Revenue of $107.8M; up 62% from prior yearRecord Q2 Adjusted EBITDA of $30.1M; up 59% from prior year\n\n\nTORONTO, Aug. 7, 2012 /CNW/ - Mood Media Corporation (ISIN:\n CA61534J1057) (TSX:MM) (LSE AIM:MM) (\"Mood Media\" or the \"Company\"),\n the world's leading in-store media solution provider, announced today\n its results for the three and six months ended June 30, 2012.\n\n\nLorne Abony, Chairman and CEO of Mood Media Corporation, comments:\n\n\n\"In Q2, we accelerated our strategy of providing a broader and more\n valuable suite of products and services to our existing and prospective\n customers.  Q2's Revenue and EBITDA growth are a clear validation of\n Mood Media's growth strategy.\n\n\nAll of our Key Performance Indicators (KPI's) were up for the quarter. A\n core component of our growth strategy is digital signage.   In Q2, we\n continued to successfully execute against our visual growth plan,\n installing 1,134 new visual sites to a range of well-known\n international brands, including Clear Channel, Volkswagen, and Skoda. \n The visual growth in Q2 represented 145% growth year-over-year and 60%\n growth over Q1.  The growth in visual sites drove an increase in gross\n margin from 58% to 62%, resulting in incremental EBITDA growth.\n\n\nOur strategic focus translated into improved fundamental metrics across\n the entire business.  By selling a wider range of more valuable\n services to our customers we continued to grow our average monthly\n revenue per location, up to $61 in Q2, up from $55 in 2011, and up from\n $60 in the prior quarter.   Improving business fundamentals not only\n helped drive this quarter's results but will have a positive impact on\n the Company's future results, given the recurring nature of Mood\n Media's revenue model.\n\n\nAs a Company with a robust and growing European business and growing\n Euro-denominated revenue streams that reports its financial results in\n US dollars, Mood Media faces a financial reporting dilemma that is\n cosmetic in nature.  While Mood Media's foreign exchange swap programs\n protect its cash flows, negative movements in the Euro create\n unavoidable impacts on the Company's reported EBITDA. The Euro has\n weakened substantially against the US dollar year to date, and should\n its weakness continu...