Business
Mood Media Reports Q1 2013 Revenues of $129 million and EBITDA of $26 million
Mood Media Corporation revenues rise by 54% year-over-year to $129 million EBITDA i...
About this update from Maximus Metals, Inc.
[{"type":"text","content":"\n\n\n\n\n\nMood Media Corporation revenues rise by 54% year-over-year to $129\n million\n\n\nEBITDA increases 20% to $26 million, reflecting gains in the North\n American business segment\n\n\nManagement re-affirms 2013 guidance\n\n\nCompany has entered into a definitive agreement to sell a substantial\n majority of its retail point-of-purchase assets\n\n\nTORONTO, May 9, 2013 /CNW/ - Mood Media Corporation (ISIN:\n CA61534J1057) (TSX:MM / LSE AIM:MM), one of the world's largest\n integrated providers of in-store customer solutions,  today reported\n results for the first quarter ended March 31, 2013.\n\n\nThe Company reported revenues of $129 million (a 54% increase versus the\n prior year's quarter) and EBITDA of $26 million (a 20% increase versus\n the prior year's quarter) driven primarily by acquisitions.\n\n\nNet loss per share from continuing operations was ($0.03) compared with\n net income of $0.01 in the prior-year period. Increased losses in the\n current period were driven by higher deferred income taxes and higher\n foreign exchange losses from financing transactions, which more than\n offset the improvement in EBITDA, reduced transaction and restructuring\n expenses, and lower financial expense.\n\n\nMood Media recently announced it has entered into a definitive agreement\n to dispose of the substantial majority of its retail point-of-sale\n assets, which had been classified as a discontinued operation earlier\n in 2012. The sale is subject to regulatory approvals and customary\n closing conditions.\n\n\n\"We were successful in achieving some important milestones in the\n quarter,\" said Lorne Abony, Chairman and CEO of Mood Media. \"These\n include progress with our integration activities, achievement of our\n first quarter financial guidance, and the successful resolution of our\n ownership position in our discontinued operation, Mood Entertainment.\n These factors bode well for us for the duration of 2013 and 2014.\"\n\n\n\"We are accelerating our efforts to realize on the potential of our\n asset base by integrating our processes, innovating with our products\n and realigning our sales activity. We are working hard on executing\n more quickly and effectively and the results are starting to come\n through. I am more excited than ever about the opportunities in front\n of us and I believe the best days...