Press release from CNW Group
Yangaroo Reports Second Quarter Results
Tuesday, August 28, 2012
Yangaroo Reports Second Quarter Results16:04 EDT Tuesday, August 28, 2012Record Growth With Revenues Up 104% Yr Over Yr, and 15% Qtr over QtrTORONTO, Aug. 28, 2012 /CNW/ - YANGAROO Inc. (TSX-V: YOO, OTC: YOOIF), the industry's leading secure digital media management company, today announced its results for the Second Quarter ending June 30th, 2012. Revenue for the second quarter was $629,352, 104% higher than the revenue for the same period in 2011 and 15% higher than the previous quarter. As in the previous quarter, growth was strong in both Advertising and Entertainment. Revenue for the first 6 months of the year was $1.18 million, up 101% over same period in 2011.Highlights:Revenue growth 104% yr over yr and 15% qtr over qtrEBITDA improved 59% yr over yr and 31% qtr over qtrAdvertising up 42% quarter over quarterNet loss down 68 % over same period in 2011US revenue from all sources up 26% qtr over qtr"YANGAROO has once again seen record revenues in the quarter," said Gary Moss, President and CEO, YANGAROO Inc. "This is particularly significant in what is traditionally a slow period, with higher revenues a result of increased usage by existing clients, the addition of new clients, and the migration from SD to HD for music videos and television advertising. This has been a particularly exciting period, with the company on target for profitability, plus the completion of significant new technology enhancements focused on our advertising clients, who have provided overwhelmingly positive feedback."Summary of operating results for the periods ended June 30th:$CDNSix monthsSecond quarter 2012201120122011Revenue 1,176,174583,775629,352307,976Interest income61188367509EBITDA(523,253)(1,765,646)(213,706)(517,608)Net loss for the period(1,380,500)(3,596,504)(709,891)(2,239,933)Loss per share (basic & diluted)(0.01)(0.03)(0.01)(0.02)The full text of the financial statements and Management Discussion & Analysis is available at www.yangaroo.com and at www.sedar.com.About YANGAROO:YANGAROO is a company dedicated to digital media management. YANGAROO's patented Digital Media Distribution System (DMDS) is a leading secure B2B digital cloud based solution focused on the music and advertising industries. The DMDS solution provides more accountable, effective, and far less costly digital management of broadcast quality media via the Internet. It replaces the physical, satellite and closed network distribution and management of audio and video content, for music, music videos, and advertising to television, radio, media, retailers, and other authorized recipients. The YANGAROO Awards platform powers many of North America's major awards shows.YANGAROO has offices in Toronto, New York, Los Angeles, and Dallas. YANGAROO trades on the TSX Venture Exchange (TSX-V) under the symbol YOO and in the U.S. under OTCBB: YOOIF.The statements contained in this release that are not purely historical are forward-looking statements and are subject to risks and uncertainties that could cause such statements to differ materially from actual future events or results. Such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. SOURCE: YANGAROO Inc.For further information: please contact Gary Moss at 416-534-0607 ext.111 or visit www.yangaroo.com.