Solid Growth Continues With Revenues Up 83% Yr over Yr and 20% Qtr over Qtr
TORONTO, Nov. 29, 2012 /PRNewswire/ - YANGAROO Inc. (TSX-V: YOO, OTC: YOOIF), the industry's leading secure digital media management company, today announced its results for the Third Quarter ending Sept 30th, 2012. The third quarter growth was 83% higher than the same period in 2011 with revenue of $752,760, and 20% higher than the previous quarter. Growth continues to be strong in both Advertising and Entertainment. Revenue for the first 9 months of the year was $1.9 million, up 94% over same period in 2011.
Highlights:
- Revenue growth 83% yr over yr and 20% qtr over qtr
- Adjusted EBITDA improved 65% yr over yr and 18% qtr over qtr
- Advertising revenue up 191% over previous year
- Entertainment revenue up 57% over previous year
- Net loss down 37% over previous year
- US revenue from all sources up 182% over previous year
"I'm happy to report that we have now had 6 consecutive quarters with double digit revenue growth," said Gary Moss, President and CEO of YANGAROO. "With the successful closing of the financing, we expect to add resources, both staff and infrastructure, to continue to drive this growth as we move toward profitability."
Summary of operating results for the periods ended September 30th:
| $CDN | Nine months | Third quarter | ||
| 2012 | 2011 | 2012 | 2011 | |
| Revenue | 1,928,934 | 994,135 | 752,760 | 410,360 |
| Adjusted EBITDA | (698,774) | (2,265,784) | (175,521) | (500,138) |
| Net loss for the period | (1,834,473) | (4,314,983) | (453,973) | (718,479) |
| Loss per share (basic & diluted) | (0.01) | (0.04) | (0.003) | (0.005) |
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. underOTCBB: YOOIF. For further information, please contact Gary Moss at 416-534-0607 ext.111 or visit www.yangaroo.com.
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.
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