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Yangaroo Reports Record Annual And Fourth Quarter Results; Annual Revenues up 86%, Q4 Revenues up 67%, Annual Operating Expenses down 14%
(via Thenewswire.ca) TORONTO, CANADA - YANGAROO Inc. (TSX-V: YOO, OTC: YOOIF), the industry...
About this update from Yangaroo Inc.
[{"type":"text","content":"\nYangaroo Reports Record Annual And Fourth Quarter Results; Annual Revenues up 86%, Q4 Revenues up 67%, Annual Operating Expenses down 14%\n\n(via Thenewswire.ca)\n \n \nTORONTO, CANADA - YANGAROO Inc. (TSX-V: YOO, OTC: YOOIF), the industry's leading secure digital media distribution company, today announced its results for the year and fourth quarter ended December 31, 2012. \n\n \n \nRevenue for the fiscal year 2012 was $2,690,214, 86% higher than in fiscal 2011. Revenue for the fourth quarter was $761,280, 67% higher than the revenue for the same period in 2011 and 1% higher than the previous quarter. The increase in revenue is primarily a result of greater use of YANGAROO Advertising to deliver SD and HD ads to television broadcasters, primarily in the United States. Growth continued for music video delivery by the major and independent record labels in the U.S. and Canada, and there was also significant growth from YANGAROO Awards, with the addition of The EMMYS and The Latin GRAMMYS. Overall, there was strong growth in all divisions and in all territories with U.S. revenues up 94% and revenues from Canada growing by 20%. \n\n \n \nThe company's fourth quarter revenue was significantly impacted by Hurricane Sandy. There was very little activity as many of the company's advertising- and music-industry clients, based in New York and New Jersey, were affected by the storm for up to two weeks. \n\n \n \nTotal operating expenses for the year ended December 31, 2012, was $594,345 lower than the previous year. The loss from operations for 2012 was $968,715, down from $2,803,383 in 2011. Excluding one-time charges and non-recurring expenses in 2011, the operating loss declined by $1,234,668 while revenue for the same period increased by $1,240,323. Total operating expenses for the fourth quarter of 2012 were 3% higher than the same period in fiscal 2011. The loss from operations was down 59% ($278,629) and revenue was up 67% ($305,524) for the fourth quarter of 2012 compared to the same period in 2011. \n\n \n \n\"We are very pleased with the continued growth in all areas of the business, throughout 2012. Despite the impact of Hurricane Sandy in Q4, weekly activity during the quarter increased over Q3, indicating continued double digit quarter to quarter growth, on a normalized basis. Excluding year-end adjustments for items such ...