TORONTO, ON–(Marketwired – May 30, 2016) –
YANGAROO Inc.
(TSX VENTURE: YOO)
(OTCBB: YOOIF), the industry’s leading secure digital media management company, today announced its results for the First Quarter ending March 31st 2016. Revenue for the first quarter was $1,347,149, 8% higher than the revenue for the same period in 2015. Revenues were down from the previous quarter as the first quarter is an historical and seasonally slower quarter.
Both Advertising Division and Entertainment Division showed growth over the previous year. The Entertainment division recognized revenue of $124,115 from a one-time European license fee in the first quarter of 2015, that affects the comparative.
Highlights:
- Total revenue Q1 $1,347,149, 8% higher than same period in 2015, and 20% higher when normalized without one-time licensing revenue $124,115 in Q1 2015
- Advertising Q1 revenues $644,406, 16% higher than same period in 2015
- Entertainment Q1 revenues $702,743, 3% higher than same period in 2015, and 25% higher when normalized without one-time licensing revenue $124,115 in Q1 2015
- Total Canadian Q1 revenue $352,380 up 15% over Q1 2015
- Total US Q1 revenue $994,769 up 22% over Q1 2015
Total operating expenses for the quarter ended March 31, 2016 was 8% lower than the same period in the previous year. EBITDA improved 18% over the same period of 2015.
“Business development continues to be robust, with 27 new accounts signed year to date,” said Gary Moss, President and CEO of YANGAROO Inc. “There are several significant, signed customers who will start to utilize our service for the first time in Q2, when we have 100% of the required North American footprint in place. Rounding out the footprint and the launch of digital delivery of long form content will have immediate and significant impact on the balance of the year.”
Summary of operating results for the periods ended March 31st:
| First Quarter | ||
| $CDN | 2015 | 2014 |
| Revenue | 1,347,149 | 1,242,491 |
| EBITDA (loss) | (307,167) | (375,133) |
| Normalized EBITDA (loss) | (202,372) | (374,374) |
| Net loss for the period | (348,104) | (405,029) |
| Loss per share (basic & diluted) | (0.006) | (0.008) |
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 is now the industry standard and powers most of North America’s major awards shows.
YANGAROO has offices in Toronto, New York, and Los Angeles. YANGAROO trades on the TSX Venture Exchange (TSX-V) under the symbol YOO and in the U.S. under OTCBB: 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. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For Industry Inquiries:
Celia Vine, LLC
Deanna Kennedy
Phone: 1 (413) 219-7588
deannakennedy@celiavine.com