Kangaroo Media Inc. announces 2nd Quarter 2008 Financial Results



    MONTREAL, Aug. 14 /CNW Telbec/ - Kangaroo Media Inc. (TSX: KTV) announced
today results for its 2nd quarter 2008.

    
    HIGHLIGHTS:

    - Revenues totaled close to $1.4 million
    - Revenues from rental and activations up 32% over Q2 2007
    - Activations per event up 30% in NASCAR and 84% in F1
    - Liquidity and capital resources amount to $14.4 million
    

    For the second quarter ended June 30, 2008, revenues totaled
$1.4 million. Q2 2008 revenues can be segmented as follows: $1.2 million from
the rental and activation of units, an increase of 32% over Q2 2007; $150,000
stemming from services, compared to $289,000 in Q2 2007; $5,000 from the sales
of devices and accessories, compared to $313,000 in Q2 2007. The Company
incurred a slightly higher net loss of $4.7 million or $0.13 per share,
compared to a loss of $4.2 million or $0.15 per share in the second quarter of
2007.
    As at June 30, 2008, the Company's cash, cash equivalents and short-term
investments totaled $14.4 million.
    ""The 2nd quarter 2008, was active on several fronts. Operationally,
delivering and further building our motor racing activities segment captured a
large part of our focus. Efforts at better execution and broader penetration,
especially in F1, led to increased activation levels and new revenue sources
through sponsorship and exclusive content delivery. We are encouraged by the
traction we are experiencing. In golf, an area we are aggressively targeting,
we successfully showcased Kangaroo TV at THE PLAYERS golf tournament. While we
are focused on the top line, our drive for better execution is also helping us
review our costs and strive for more effective returns on these costs," said
Robert Mimeault , President and COO of Kangaroo Media Inc.
    Commenting on the new business perspective, Mimeault added: "We have been
engaging current and prospective partners along the lines of a more
sustainable and profitable business model for the company. As a result,
discussions have been more extensive and more time-consuming but the new
business perspective remains positive. Our principal focus for the balance of
2008 is to continue to develop additional revenue streams both through deeper
market penetration of the properties in which we operate and through the
addition of new top tier sports properties."

    An analyst conference call on the Q2 2008 results will take place on
August 15, 2008 at 8:30 A.M (Eastern). To participate or listen to the
conference call, dial 1-800- 732-0232 approximately 10 minutes prior to the
start of the call. A replay of the conference call will be available until end
of day August 31, 2008, commencing at 10:30 A.M. the day of the call. The
instant replay number is 1-877-289-8525, passcode 21280075#.

    About Kangaroo Media Inc.

    Kangaroo Media Inc. develops, manufactures, commercializes, sells and
rents hand-held wireless audiovisual multi-functional entertainment systems
that allow users to enhance their on-site viewing experience of sporting
events. Kangaroo Media's unique proprietary technology delivers real-time
video, audio and data content to each fan's hand-held Kangaroo TV device. It
gives fans the ability to create their own live-action sporting event on-site.
Kangaroo Media, headquartered near Montreal, Canada, is listed on the Toronto
Stock Exchange (www.tsx.com) as KTV. For more information, visit
www.kangaroo.tv.

    Forward-looking statements

    This news release contains forward-looking information. These statements
relate to future events or future performance and reflect management's current
expectations and assumptions. Such forward-looking statements reflect
management's current beliefs and are based on information currently available
to management of Kangaroo Media. A number of factors could cause actual
events, performance or results to differ materially from the events,
performance and results discussed in the forward-looking statements. These
forward-looking statements are made as of the date hereof and Kangaroo Media
does not assume any obligation to update or revise them to reflect new events
or circumstances.

    (The TSX does not accept responsibility for the adequacy or accuracy of
    this release.)




For further information:

For further information: Rick Clements, Chief Financial Officer, (450)
595-2004

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KANGAROO MEDIA INC.

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