Business
Yangaroo Reports First Quarter Results
U.S. Deliveries Rise 62%; Revenues Up; New Partnerships, Product Spur DMDS Adoption TORONTO, May ...
About this update from Yangaroo Inc.
[{"type":"text","content":"\n\n\n\nU.S. Deliveries Rise 62%; Revenues Up; New Partnerships, Product Spur\n\n\nDMDS Adoption\n\n\nTORONTO, May 30 /CNW/ - YANGAROO Inc. (TSX-V: YOO, OTC: YOOIF), the\nindustry's leading secure digital media distribution company, today announced\nresults for the first quarter ended March 31, 2008. Revenues were 3% higher\nthan revenues for the same period in 2007 due to the increased use of\nYANGAROO's Digital Media Distribution System (DMDS). Cash and cash equivalents\nwere $5,738,000 at March 31, 2008, which, based upon the change in cash in the\nquarter of $759,000, represents approximately two years of funding. In the\nUnited States market, the volume of deliveries made by YANGAROO's DMDS reached\n438,000, a 62% increase over last year's first quarter, and a continuation of\nthe trend noted in the fourth quarter of 2007.\n\n\nYANGAROO has continued to enter into new partnerships, increasing DMDS'\nbrand recognition. The company entered into an agreement with Radio & Records\n(R&R), the leading radio and record industry publication in the U.S., to\nmarket and promote DMDS to the U.S. radio and recording industries. It also\nsigned an agreement with Intermedia Regional Promotions in the UK for the use\nof DMDS to deliver new releases to radio across the UK through Adstream, Ltd.,\nYANGAROO's UK-based partner.\n\n\nThe company also launched DMDSDirect, a new e-commerce service that\nallows the independent North American music community greater access to\ndigital delivery of music. DMDSDirect allows users to choose a package of key\nstations in a given radio format or genre, pay by credit card, and have their\nmusic distributed both quickly and digitally to radio stations throughout the\nU.S. and Canada.\n\n\n"Our partnerships and new products are continuing to fuel DMDS' adoption\nand are expected to accelerate revenue growth," said YANGAROO President & CEO\nJohn Heaven. "The growth in U.S. deliveries, the revenue increase and UK\nmarket progress that occurred during the traditionally slow first quarter is a\nsign of the increased acceptance of our technology by the global music\nindustry. As we announced yesterday, we have made significant progress with\nour pending US patent application No.10/431,854 where the Examiner has agreed\nthat the recent office action will be withdrawn and the applicatio...