Business
Yangaroo Reports Record Quarter
First Quarter Revenues Up 43%; EBITDA Improves 33% TORONTO, May 27 /CNW/ - YANGAROO Inc. (TSX-V: ...
About this update from Yangaroo Inc.
[{"type":"text","content":"\n\n\n\nFirst Quarter Revenues Up 43%; EBITDA Improves 33%\n\n\nTORONTO, May 27 /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, 2009. Revenues for the first\nquarter of 2009 set a new record for the company and were 43% higher than for\nthe same period in 2008. First quarter revenues increased 31% over the\nrevenues for the preceding fourth quarter of 2008. EBITDA (earnings before\ninterest, taxes, depreciation and amortization) for the first quarter of 2009\nimproved by 33% over the same period in 2008. Cash and cash equivalents at\nMarch 31, 2009 were $2,248,000.\n\n\nOther highlights from the first quarter of 2009 include the launch of the\nnext generation of YANGAROO'S patented Digital Media Distribution System -\nDMDS 5.0, the use of the new DMDS 5.0 platform to power the 2009 JUNO Awards\nfor The Canadian Academy of Recording Arts and Sciences (CARAS), and the\nallowance and subsequent grant of the company's United States patent No.\n7,529,712 titled "Content Distribution System and Method".\n\n\n"The growth in revenue shows that DMDS' adoption across North America\ncontinues to accelerate," said YANGAROO President & CEO John Heaven. "Not only\nare existing partners increasingly relying on it, but DMDS 5.0 has been\nembraced by the Canadian Academy of Recording Arts & Sciences and demonstrated\nhow cost-effective, environmentally friendly and less labour-intensive it is.\nIn addition, the grant of our third patent has further recognized and\nprotected our sector leading technology innovations."\n\n\nSummary of operating results for the three months ended March 31:\n\n ---------------------------------------------------------\n $CDN First Quarter\n ---------------------------------------------------------\n 2009 2008\n ---------------------------------------------------------\n Revenue 181,386 127,077\n ---------------------------------------------------------\n Interest income 6,996 55,388\n ---------------------------------------------------------\n EBITDA (487,213) (731,762)\n ---------------------------------------------------------\n Net loss for the period (610,021) (807,192)\n ---------------------------------------------------------\n Loss per share (...