Business
YANGAROO REPORTS THIRD QUARTER RESULTS
YANGAROO REPORTS THIRD QUARTER RESULTS
About this update from Yangaroo Inc.
[{"type":"text","content":"\n\n\n\n Nov. 29, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nTORONTO, Nov. 29 /CNW/ - YANGAROO Inc. (TSX-V: YOO, OTC: YOOIF), the industry's leading secure digital media\n distribution company, today announced its results for the nine months\n and third quarter ended September 30, 2010. Revenues for the nine month\n period decreased 8% over revenues for the nine month period of 2009.\n This change is primarily a result of $81,000 of timing differences in\n recurring award show revenues that were recognized in the first nine\n months of 2009, but are to be recognized later in 2010 and in early\n 2011. The loss for nine months ended September 30, 2010 was 30%\n ($564,000) higher compared to the same period in 2009, primarily due to\n bolstering the management team and debenture interest. Increases in\n recruiting expense of $236,000, interest expense of $100,000,\n amortization of intangible assets of $60,000 and stock option expense\n of $38,000 contributed to the increased loss.\n\n\nRecent period highlights include a multi-year agreement with Viacom's\n BET Networks to use YANGAROO's Digital Media Distribution System (DMDS)\n technology for delivery of all artist and music-related audiovisual\n content to BET properties, an agreement with the Academy of Country\n Music to power online review and professional member voting for the\n forthcoming 46th Annual Academy of Country Music Awards and receiving\n the grant of Canada patent number 2,349,797 titled "Biometric Rig...