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YANGAROO Reports 22% Revenue Increase in 2007
Fifth Consecutive Year of Revenue Growth; US Deliveries Increase 266% TORONTO, April 29 /CNW/ - Y...
About this update from Yangaroo Inc.
[{"type":"text","content":"\n\n\n\nFifth Consecutive Year of Revenue Growth; US Deliveries Increase 266%\n\n\nTORONTO, April 29 /CNW/ - YANGAROO Inc. (TSX-V: YOO, OTC: YOOIF), the\nindustry's leading secure digital media distribution company, today announced\nits results for the year and fourth quarter ended December 31, 2007. YANGAROO\nachieved its fifth consecutive year of revenue growth in 2007, reporting a 22%\nincrease in revenue (which excludes interest income) over fiscal 2006. Cash\nand cash equivalents were at a record high of $6,497,000 at December 31, 2007,\nexceeding budgeted targets and considerably greater than in any previous year.\n\n\nIn the U.S. market, the volume of U.S. deliveries made by YANGAROO's\nDigital Media Distribution System (DMDS) grew by 266% to 1.3 million, marking\nanother historic milestone in the technology's adoption. During the third\nquarter alone, U.S. deliveries exceeded 300,000, a first for quarterly\nvolumes. In the fourth quarter of 2007, the number of U.S. deliveries made on\nDMDS doubled over the fourth quarter of 2006 to 437,000. The company is\nactively working with its US users to monetize these growing volumes.\n\n\n"Through our continued expansion in Canada, the U.S. and the U.K.\nmarkets, we experienced tremendous growth in 2007," said YANGAROO President &\nCEO John Heaven. "In 2007 we completed the largest financing in the company's\nhistory, increased revenues for the fifth year in a row, launched our U.K.\nbased service, expanded our product offerings, re-branded the company,\nbolstered the management and technology team, moved the company's stock\nexchange listing up to Tier 1, vigorously prosecuted our patent infringement\nclaim against a competitor, moved to larger premises to accommodate growth,\nand aggressively pursued our pending US patent application. These developments\nand others make us confident that we will continue to see our business\nflourish in 2008."\n\n\nPlanned additions to operating expenses, which were under budget for both\nthe year and the fourth quarter, were the primary reason for the increase in\nthe loss in 2007. The company utilized funds from the financing completed in\nthe first quarter to reinforce areas that were previously under-resourced. The\nmajority of the increase in operating expenses in 2007 stemmed from the\nplanned augmentation of human...