Business
Mood Media Reports Second Quarter 2014 Financial and Operating Results
Integration Activities Positively Impacted Operating Cost Structure On Track to A...
About this update from Maximus Metals, Inc.
[{"type":"text","content":"\n\n\nIntegration Activities Positively Impacted Operating Cost Structure\n\n\nOn Track to Achieve Annualized Cost Savings in the Range of $8 to $10\n Million by Year-End 2014 Driven by Efficiency Program Synergies\n\n\nTORONTO, Aug. 14, 2014 /CNW/ - Mood Media Corporation (\"Mood Media\" or\n \"the Company\") (ISIN: CA61534J1057) (TSX:MM) (LSE AIM:MM), the world's\n largest integrated provider of in-store customer experience solutions,\n today reported results for the second quarter of 2014 and updated its\n strategic and operational plans.\n\n\nRecent Highlights\n\n\n\nAchieved second quarter revenues of $120 million and EBITDA of $24.0\n million;\n\n\nContinued to successfully implement global integration and consolidation\n activities; based upon strong results to date, finalizing synergy\n target to range of $8 to $10 million in annualized cost savings by\n year-end 2014;\n\n\nExpanded Local Sales organization and delivered new products;\n\n\nReiterated 2014 financial outlook.\n\n\n\n\"In the second quarter, we continued to relentlessly focus on executing\n our strategic plan and further strengthened our platform for long-term\n sustainable growth,\" said Steve Richards, President and CEO of Mood\n Media. \"Over the past 10 months we have worked steadfastly to engender\n a culture of accountability, and the entire Mood Media team is focused\n on improving the efficiency and consistency of our business. Notably,\n we are making significant progress on our strategies surrounding Local\n Sales, product and solutions development, and partnership expansion.\n During the second quarter, we continued to build out our Local Sales\n teams in North America and the international markets, launched new\n compelling services called Mood Mix and Mood Social Wifi and advanced\n our mobile solutions, all of which we expect will contribute to our\n future growth. Our cost savings initiatives are also beginning to\n deliver tangible returns and, based upon our strong execution to date,\n we are finalizing our annualized cost savings expectations to a range\n of $8 to $10 million by year-end 2014.\n\n\n\"We are gaining important traction with our visuals and mobile\n services,\" continued Mr. Richards. \"In the first half of 2014 we signed\n our largest U.S. contracts to date and launched our first large-scale\n mobile promotion in conjunction...