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YANGAROO Reports First Quarter Results; Advertising Revenues up 68% Year over Year and 71% Quarter over Quarter
(via Thenewswire.ca) TORONTO, CANADA - YANGAROO Inc. (TSX-V: YOO, OTC: YOOIF), the industry...
About this update from Yangaroo Inc.
[{"type":"text","content":"YANGAROO Reports First Quarter Results; Advertising Revenues up 68% Year over Year and 71% Quarter over Quarter(via Thenewswire.ca)\n\n \nTORONTO, CANADA - YANGAROO Inc. (TSX-V: YOO, OTC: YOOIF), the industry's leading secure digital media management company, today announced its results for the First Quarter ending March 31st 2013. Total revenue for the first quarter was $763,103, 40% higher than the revenue for the same period in 2012.\n\n\n \nAdvertising led the way with Q1 revenues of $249,744, up 68% over the same period in 2012 and up 71% over the previous quarter. Two significant ad related deals were announced in the first quarter. A strategic partnership with New York based USA Studios and a deal to provide digital delivery for Los Angeles based Pacific Media Technologies. \n\n\n \nThe adjusted EBITDA loss increased 4% over the same period of 2012 and 79% over the prior quarter. Total operating expenses for the quarter ended March 31, 2013 was 26% higher than the same period in the previous year and 15% from the previous quarter. The increase in expenses and the related impact on EBITDA is directly attributable to the non-cash impact of vesting share based compensation issued in 2012.\n\n\n \n\"Even when normalizing for the lost advertising business in Q4, 2012, due to Hurricane Sandy, the quarterly growth in Advertising Division revenue is approximately 43%, and this despite the first quarter being a traditionally slow period for Advertising and Entertainment,\" said Gary Moss, President and CEO of YANGAROO Inc. \"Core Entertainment Division revenue, excluding Awards Shows, which tends to be more lump sum in nature, also grew. This growth, coupled with the impact of the deals announced during the quarter, sets the foundation for our goals for the balance of the year.\" \n\n\n \nSummary of operating results for the periods ended March 31st: \n\n\n \n\n ----------------------------------------------\n |$CDN |First Quarter |\n |--------------------------------------------|\n |  |2013 |2012 |\n |--------------------------------------------|\n | Revenue  |        |        |\n | | 763,103 | 546,822 |\n |--------------------------------------------|\n | Adjusted EBITDA (loss) |(321,228)|(309,547)|\n |--------------------------------------------|\n | Net...