Kaboose Reports First Quarter 2009 Results



    TORONTO, May 13 /CNW/ - Kaboose Inc. (TSX: KAB), one of the largest
family-focused new media companies in the world, today announced financial
results for its first quarter of fiscal 2009 ended March 31, 2009.

    
    Financial Highlights for the Quarter

    -   Revenue in the first quarter was $16.75 million, compared to $16.30
        million in the same quarter last year, an increase of 3%;

    -   EBITDA (earnings before interest, taxes, depreciation, amortization,
        stock-based compensation, restructuring and other non-recurring
        charges) was $2.76 million, compared to $1.44 million in the same
        quarter last year (after adjustment for discontinued operations), an
        increase of 92%;

    -   Net loss for the quarter was $4.91 million or $0.03 per share,
        compared to a loss of $3.79 million or $0.03 per share in the first
        quarter of fiscal 2008; net loss for the first quarter of fiscal 2009
        included amortization related to previous acquisitions of $3.26
        million and restructuring and other non-recurring charges of $2.07
        million, compared to amortization of $3.52 million and restructuring
        and other non-recurring charges of $1.34 million in the first quarter
        of 2008; and

    -   Balance sheet as at March 31, 2009 remains strong with cash and cash
        equivalents totaling $13.21 million and bank debt totaling $18.27
        million.

    Operational Highlights for the Quarter

    -   On March 31, 2009, Kaboose entered into two separate agreements which
        would effect the sale of the Company's UK business, Bounty Group
        Limited, to a company controlled by funds managed by Barclays Private
        Equity Limited ("BPE") and the sale of the Company's North American
        assets to Disney Online, a unit of Disney Interactive Media Group
        segment.

    -   On February 9, 2009, the Company sold its Birthday in a Box
        subsidiary;

    Financial Summary
    -------------------------------------------------------------------------
                                                          Three-month period
    Income Statement Data                                     ended March 31
    (in $ millions)                                          2009     2008(1)
    -------------------------------------------------------------------------
    Revenue                                                $16.75     $16.30
    EBITDA(2)                                                2.76       1.44
    Net loss                                                (4.91)     (3.79)
    -------------------------------------------------------------------------
    (1) 2008 results revised to reflect discontinued operations.
    (2) Reconciliation of EBITDA (earnings before interest, taxes,
        depreciation, amortization, stock-based compensation, restructuring
        and other non-recurring charges), as reported above, to generally
        accepted accounting principles (GAAP). Loss for the three-month
        periods ended March 31, 2009 and 2008 are shown below (all numbers
        expressed in millions).

    -------------------------------------------------------------------------
                                                          Three-month period
                                                              ended March 31
    (in $ millions)                                          2009     2008(1)
    -------------------------------------------------------------------------
    Net loss                                               $(4.91)    $(3.79)
    Add/(Deduct)
      Income tax expense (recovery)                          0.59      (0.77)
      Interest, net                                          0.47       0.36
      Amortization                                           3.26       3.52
      Restructuring and other non-recurring charges          2.07       1.34
      Foreign currency gain                                     -      (0.14)
      Stock-based compensation                               1.02       1.07
      Loss from discontinued operations                      0.26      (0.15)
    -------------------------------------------------------------------------
    EBITDA(2)                                               $2.76      $1.44
    -------------------------------------------------------------------------
    (1) 2008 results revised to reflect discontinued operations.
    (2) Kaboose presents EBITDA information as a supplemental figure because
        management believes it provides useful information regarding
        operating performance. EBITDA is not a recognized measure under
        Canadian GAAP, does not have standardized meaning, and is unlikely to
        be comparable to similar measures used by other companies.
        Accordingly, investors are cautioned that EBITDA should not be
        construed as an alternative to net earnings or loss determined in
        accordance with GAAP as an indicator of the financial performance of
        the Company or as a measure of the Company's liquidity and cash
        flows.
    

    About Kaboose Inc.

    Kaboose Inc. is a global media company fully dedicated to meeting the
needs of moms and their families. Kaboose ranks as one of the world's top five
family destinations and is a respected leader in the online parenting category
in three of the largest English speaking countries - the United States, Canada
and the United Kingdom. Kaboose provides parents with an extensive array of
relevant information, resources, tools and community that support their
efforts during the parenting life cycle. Kaboose's websites include its
award-winning flagship, Kaboose.com, which gives moms the tools they need to
plan an active, healthy and rewarding family life; Bounty, the UK's favourite
parenting club, providing information, support and products for young
families; BabyZone.com, serving the needs of expectant and new moms;
ParentZone.com, a family-focused local resource and event site;
AmazingMoms.com, providing simple and easy solutions for birthday parties,
family crafts and special occasions; and Funschool.com which promotes learning
while helping kids have fun. Kaboose trades on the Toronto Stock Exchange
under the symbol "KAB".

    This document may contain forward-looking statements, relating to Kaboose
Inc.'s operations or to the environment in which it operates, which are based
on Kaboose Inc.'s operations, estimates, forecasts and projections. These
statements are not guarantees of future performance and involve risks and
uncertainties that are difficult to predict, and/or are beyond Kaboose Inc.'s
control. A number of important factors could cause actual outcomes and results
to differ materially from those expressed in these forward-looking statements.
Consequently, readers should not place any undue reliance on such
forward-looking statements. Kaboose Inc. disclaims any intention or obligation
to update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise.





For further information:

For further information: Jonathan Pollack, Chief Financial Officer, TEL:
(416) 593-3000, FAX: (416) 593-4658

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KABOOSE INC.

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