OutdoorPartner Media announces second quarter financial results



    TORONTO, Aug. 24 /CNW/ - OutdoorPartner Media Corporation (TSX-V: OPX -
News) ("OutdoorPartner" or the "Company"), a leading alternative out-of-home
media provider, today announced financial results for its second quarter ended
June 30, 2009.

    
    Financial Highlights

    -   Revenue for the three months ended June 30, 2009 was $1,189,247
        compared to $1,822,257 for the three months ended June 30, 2008.

    -   EBITDA(*) loss for the three months ended June 30, 2009 was $344,715
        compared to $416,592 for the three months ended June 30, 2008.

    -   Net loss for the three months ended June 30, 2009 was $548,365
        compared to a net loss of $575,783 the three months ended
        June 30, 2008.

    -   Revenue for the six months ended June 30, 2009 was $1,942,396
        compared to $2,559,863 for the six months ended June 30, 2008.

    -   EBITDA(*) loss for the six months ended June 30, 2009 was $850,737
        compared to $1,573,246 for the six months ended June 30, 2008.

    -   Net loss for the six months ended June 30, 2009 was $1,115,782
        compared to a net loss of $1,862,870 the six months ended
        June 30, 2008.

    "As expected, the second quarter remained challenging on the national
advertising front," said Richard McGraw, Chief Executive Officer of
OutdoorPartner. "The Company has realized over $1.1 million of operating
expense reductions through the first six months of 2009 and expects to achieve
its goal of $2 million in operating expense reductions in fiscal 2009."



    Financial Highlights
    OutdoorPartner Media Corporation
    Unaudited Interim Consolidated Statements of Operations
    (US dollars)

                                                    Three months ended
                                               June 30, 2009   June 30, 2008

    Revenue                                     $  1,189,247    $  1,822,257
    Direct Costs                                     442,019         726,171
                                              -------------------------------
    Gross Profit                                     747,228       1,096,086

    Operating expenses                             1,297,916       1,686,076

                                              -------------------------------
                                                $   (550,688)   $   (589,990)

    Interest income                                    2,323          14,207

                                              -------------------------------
    Net loss                                    $   (548,365)   $   (575,783)
                                              -------------------------------



    OutdoorPartner Media Company
    Reconciliation of
    EBITDA(*) to Net income

                                                     3 month         3 month
                                                period ended    period ended
                                               June 30, 2009   June 30, 2008

    EBITDA(*)                                   $   (344,715)   $   (416,592)

    (Add)/Deduct:
    Stock-based compensation                          13,488          37,305
    Taxes                                                  -          16,651
    Amortization                                      32,034         117,981
    Non-recurring consulting                         149,481               -
    Other                                             10,970           1,461
    Interest                                          (2,323)        (14,207)
                                              -------------------------------
    Net loss                                    $   (548,365)   $   (575,783)
    -------------------------------------------------------------------------



    OutdoorPartner Media Company
    Reconciliation of
    EBITDA(*) to Net income

                                                     6 month         6 month
                                                period ended    period ended
                                               June 30, 2009   June 30, 2008

    EBITDA(*)                                   $   (850,737)   $ (1,573,246)

    (Add)/Deduct:
    Stock-based compensation                          26,440          62,998
    Taxes                                             14,099          44,001
    Amortization                                      64,306         230,935
    Non-recurring consulting                         149,481               -
    Other                                             19,128           1,416
    Interest                                          (8,409)        (49,726)
                                              -------------------------------
    Net loss                                    $ (1,115,782)   $ (1,862,870)
    -------------------------------------------------------------------------

    (*)EBITDA is not an earnings measure recognized by GAAP in Canada or the
    United States and does not have a standardized meaning prescribed by
    GAAP. It should not be considered a substitute for income (loss) from
    operations, net income (loss), cash flows from operating activities or
    other statement of operations or cash flow statement data prepared in
    accordance with GAAP. Management considers EBITDA to be a meaningful
    supplement to operating and net income as a performance measure that
    facilitates period-to-period operating comparisons and allows the Company
    to compare its operating results with its competitors. In addition,
    management believes that such a measure is commonly used by securities
    analysts, investors and other interested parties to evaluate a company's
    financial performance. The Company's method of calculating EBITDA may
    differ from the methods used by other companies and accordingly, EBITDA
    references contained herein may not be comparable to similar measures
    presented by other companies.
    

    About OutdoorPartner:

    OutdoorPartner is a market leader in the high-growth alternative
out-of-home advertising industry. The Company provides its advertising clients
with an opportunity to post messages on its diversified network of advertising
displays - including standard phone kiosks, large format phone kiosks and
lifeguard towers - covering all of the top 50 Designated Market Areas ("DMAs")
in the United States. In addition to static display advertising,
OutdoorPartner provides advertisers with the opportunity to push rich digital
content from its phone kiosks to consumers' Bluetooth enabled mobile phones
with a service called PrimeCasting. Combined with its powerful, proprietary
database and mapping software, the Company's extensive network offers
advertisers micro-targeted ad placement in close proximity to pedestrian
traffic and the point of purchase. More information may be found online by
visiting www.outdoorpartner.com.

    Forward-Looking Statements

    This news release contains forward-looking statements regarding, among
other things, OutdoorPartner's beliefs, plans, objectives, strategies,
estimates, intentions and expectations. Such statements are based on a number
of assumptions which may prove to be incorrect, involve certain risks and
uncertainties that are difficult to predict and, accordingly, are not
guarantees of future performance. The future results of the Company or
developments may differ materially from those expressed in the forward-looking
statements contained in this news release, due to, among other factors,
OutdoorPartner's lack of operating profits, its dependence on key personnel,
general economic conditions and other external events that may impact on
customers' advertising spending, competition from other out-of-home
advertisers and other media and government regulation seeking to limit or
restrict OutdoorPartner's activities. More detailed information about these
and other factors is included in OutdoorPartner's annual and interim financial
statements and MD&A and other documents published or filed by, or on behalf
of, OutdoorPartner from time to time with the Canadian securities regulatory
authorities. Other than as required by law, OutdoorPartner undertakes no
obligation to publicly update or revise any such forward-looking statements or
information, whether as a result of new information, future events or
otherwise.

    
    Neither TSX Venture Exchange nor its Regulation Services Provider (as
    that term is defined in the policies of the TSX Venture Exchange) accepts
    responsibility for the adequacy or accuracy of this release.
    

    %SEDAR: 00021410E




For further information:

For further information: Richard McGraw, Chief Executive Officer,
OutdoorPartner Media Corporation, 296 Richmond Street West, Suite 305,
Toronto, Ontario, M5V 1X2, Canada, T: (416) 944-2700, F: (416) 352-5070

Organization Profile

OUTDOORPARTNER MEDIA CORPORATION

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