Business
YANGAROO (formerly Musicrypt) reports first half revenues up 27%
YANGAROO (formerly Musicrypt) reports first half revenues up 27%.
About this update from Yangaroo Inc.
[{"type":"text","content":"\n\n\n\nUS Deliveries Increase Over 500%\n\n\nTORONTO, Aug. 17 /CNW/ - YANGAROO Inc. (TSX-V: YOO, OTC: YOOIF), the\nindustry's leading secure digital media distribution company, today announced\nits results for the first half ended June 30, 2007. The growth that YANGAROO\nexperienced through 2006 continued into the first six months of 2007. Revenues\n(which exclude interest income) for the six month period ended June 30, 2007\nwere 27% higher than revenues for the first half of 2006. The loss for the\nsame period increased 6%.\n\n\nYANGAROO's US market presence also accelerated through the first half, as\nthe number of deliveries made via DMDS in the US rose to 532,000, over five\ntimes those made in the first half of 2006. At the end of the second quarter\nof 2007, YANGAROO's DMDS was the de-facto standard for B2B (business to\nbusiness) digital delivery of new music files for the record and radio\nindustry in Canada. No competitor's system was in commercial use at any major\nrecord label in Canada to date in 2007. EMI, Sony BMG, Universal and Warner in\nCanada were all using DMDS commercially and the adoption of DMDS within the\nfast growing independent music sector was expanding.\n\n\nYANGAROO has now commenced billable deliveries of advertising for the\nGary Group and Universal Music Group of Los Angeles. In the UK, YANGAROO's\npartner Adstream has commenced billable deliveries of music.\n\n\n"The growth in North American music delivery revenues combined with the\ncommencement of both advertising delivery and UK music delivery revenues are\nvery encouraging," said YANGAROO President & CEO John Heaven. "Further, the\nrecent progress with the examination of our pending US patent also bolsters\nour optimism."\n\n\nSummary of operating results for the six months and quarter ended\nJune 30 2007 ($Cdn):\n\n Six Months Quarter\n ---------- -------\n 2007 2006 2007 2006\n ----------- ----------- ----------- -----------\n\nRevenue 253,448 199,236 130,640 111,488\nInterest income 132,198 6,127 71,715 3,502\nEBITDA (1,137,368) (988,420) (625,651) (505,798)\nNet loss for the period (1,161,255) (1,099,868) (632,562) (569,753)\nLoss per share\n (basic & diluted) (0.02) (0.04) (0.01) (0.02)\n\n\nThe full text of the financial statements and Management Discussion &\nAnalysis is available at www.yangaroo.com a...