Mood Media Establishes 2013 Financial Guidance

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[{"type":"text","content":"\n\n\n\n\n\nProvides Select Preliminary Financial Results for First Quarter of 2013\n\n\nTORONTO, April 9, 2013 /CNW/ - Mood Media Corporation (ISIN:\n CA61534J1057) (TSX: MM) (LSE AIM: MM) (\"Mood Media\" or the \"Company\")\n today announced financial guidance for 2013 and provided an update on\n progress to date regarding its previously announced operating and\n productivity program.\n\n\n\"Mood Media remains a strong and competitive business and our team is\n laser-focused on executing our strategy to build best-in-class\n solutions that will allow us to achieve organic growth, reduce expenses\n and deliver shareholder value,\" said Lorne Abony, Chairman and CEO of\n Mood Media.  \"Through recent strategic acquisitions, we have built an\n asset base with outstanding services capabilities and a broad\n geographic footprint.  We have also created tremendous opportunities to\n cross-sell our services that we believe will generate robust revenue\n growth and significant cost savings synergies.\n\n\n\"We are encouraged by our progress in integrating these acquisitions and\n continue to believe that we are well positioned to deliver new and\n innovative services that will create compelling customer connections\n and sustainable improvements to our operating and financial results. We\n are also pleased with our ability to sustain momentum in our audio\n business consistent with positive trends that emerged in 2012.  While\n we are experiencing a longer-than-expected timeline to consolidate our\n operations as competition law considerations delayed our integration\n planning, at the same time we are seeing a slight decrease in capital\n expenditures, and significantly lower restructuring and transaction\n expenses.  We expect to realize approximately $7 million in synergies\n in 2013 that were executed in 2012.  While we may realize additional\n synergies by the end of 2013, we are taking a prudent and conservative\n approach to their implementation and the impact on our financial\n forecast,\" Abony continued.\n\n\nFull Year 2013 Financial Outlook\n\n\nFor the full year 2013 ending December 31, 2013, the Company expects to\n report:\n\n\nRevenue in the range of $545 million to $560 million;\n\n\nAdjusted EBITDA in the range of $120 to $125 million; and\n\n\nApproximately $7 million in synergies stemming fro...

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