YANGAROO Reports Revenues for First Three Quarters Up 27%

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[{"type":"text","content":"\n\n\n\nUS Deliveries Triple in Period; Independent Sector Revenues Grow 51%\n\n\nTORONTO, Nov. 29 /CNW/ - YANGAROO Inc. (TSX-V: YOO, OTC: YOOIF), the\nindustry's leading secure digital media distribution company, today announced\nits results for the nine months and quarter ended September 30, 2007. Revenues\n(which exclude interest income) for the nine month period ended September 30,\n2007 were 27% higher than for the same period in 2006. The loss for the nine\nmonths increased 12%, but remained below the company's budget target. The\ncompany's liquidity position remained strong and above plan with $6,925,000\ncash on hand and total liabilities of $217,000 at the quarter end.\n\n\nIn the US market, the adoption of YANGAROO's Digital Media Distribution\nSystem (DMDS) accelerated through the first three quarters, as the number of\ndeliveries made via DMDS in the US rose to 846,000 by the end of September.\nThe number of US deliveries in the nine month period was more than triple\nthose made in the same period of 2006. The company made 211,000 US deliveries\nin the month of October alone, of which over 60% were made by major US labels.\nThis October volume is more than double the volume for the entire first half\nof 2006.\n\n\nIn Canada, YANGAROO's DMDS remained the de-facto standard for B2B\n(business to business) digital delivery of new music files for the record and\nradio industry. No competitor's system was in commercial use at any major\nrecord label in Canada to date in 2007. EMI, Sony BMG, Universal and Warner\nMusic Canada were all using DMDS commercially and independent sector use\ncontinued to expand. Revenues from the Canadian and US independent sector for\nthe nine month period increased 51% over the same period last year.\n\n\n"It is clear that the US music industry is coming to rely on DMDS as an\nessential tool for distribution of promotional releases, just as the industry\ndid in Canada. We are now working closely with US major labels to monetize\ntheir growing usage of DMDS," said YANGAROO President & CEO John Heaven. "The\nincrease in revenues for the third quarter is very encouraging as it included\nthe traditionally slow July and August period for music releases. Planned\nincreases in human resources combined with patent enforcement costs led to\nhigher expenses in the period, however total...

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