- Q3 2007 Revenues of $1.6 million compared to $0.4 million last year
- Nine-month revenues increased 97% year-over-year to $13.6 million
- Strong financial position with liquidity resources of $27.6 million
MONTREAL, Nov. 12 /CNW Telbec/ - Kangaroo Media Inc. announced today
results for its third quarter ended September 30, 2007.
Kangaroo Media's third quarter was marked by the continued
commercialization of Kangaroo's fan experience at F1 races and the beginning
of operations at four NFL stadiums. For the third quarter ended September 30,
2007, revenues totaled $1.6 million, more than two third generated by F1
operations, and the net loss for the quarter amounted to $4.8 million
($0.14 per share). For the nine-month period ended September 30, 2007,
revenues totaled $13.6 million compared to $6.9 million for the same period
last year, an increase of 97%, and the net loss for the nine-month period
amounted to $8.2 million ($0.27 per share). On July 24, 2007, the Company
concluded a public share offering with net proceeds of approximately
$18.6 million raising its liquidity position to $27.6 million as at
September 30, 2007.
"We are very satisfied with the progress achieved at F1 races since the
beginning of the season. The fan acceptance of our content and technology is
indicative of the market potential" said Marc Arseneau, CEO of Kangaroo Media.
"Although it is still early stage, the beginning of operations at four NFL
stadiums, namely Miami, Washington, Seattle and Houston is going well. We
continue to focus on delivering our business plan and consolidating our
leadership position in the emerging on-site mobile broadcasting market. Our
goal is to expand our addressable market of spectators by signing additional
exclusive on-site broadcasting rights agreements with the world's top sport
properties, and to develop the fan base of users."
A conference call on the Q3 2007 results with the financial community is
scheduled for Tuesday, November 13, 2007 at 8:30 a.m. (Eastern). The dial-in
number is 1-800-589-8577 and the media are invited to attend in a
listen-only-mode. The conference call title is "Kangaroo Media Analysts Call -
Q3 2007". A replay of the call will be available starting at 10:30 a.m. on the
day of the call until November 20, 2007. To access the replay, dial
1-877-289-8525 and enter the code: 21252984#.
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
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
(The TSX does not accept responsibility for the adequacy or accuracy of
For further information:
For further information: Investors Relations: Claude Michaud, Executive
Vice-President and Chief Financial Officer, Kangaroo Media, (450) 595-2004,
email@example.com; Media Relations: Emilie Verret, Edelman, (514) 844-6665,
poste 228, firstname.lastname@example.org