Over 9 month period, company achieved $1.9 million in revenue and $304K
in Net Income
TORONTO, June 18 /CNW/ - BlueRush Media Group Corp. (TSX-V: BTV), is
pleased to report the filing of the company's consolidated financial results
for its third quarter ended April 30, 2008. Through its wholly owned
subsidiary, BlueRush Digital Media Corp. ("BlueRush"), the company provides
leading edge digital marketing solutions and rich media production for
distribution across a variety of emerging medias.
Highlights for the third quarter include:
- $873,851 in revenue was realized during the quarter. This marks a 41%
increase over the previously announced second quarter - $618,024 - and
a 516% increase over the same period last year - $141,828.
- BlueRush reports Net Income of $147,864 during the 3rd quarter - a 78%
increase over the previous quarter.
- BlueRush remains in a favorable cash position with over $428K in cash;
the company has no external debt; BlueRush has over $1 Million in
Working Capital as at April 30, 2008.
- At the beginning of the quarter, BlueRush signed a 2 year, $5 million
Memorandum of Understanding with a large Canadian Financial
Institution. Results from the agreement positively impacted the
financial results during this quarter. Details of the memorandum can
be found in the press release dated February 7, 2008.
- BlueRush continues to work with some of Canada's largest institutions:
Manulife, Scotiabank, Canada Post and CI Investments.
Larry Lubin, BlueRush President and CEO stated. "The hard work and
dedication of our employees, along with the company's unique position in the
marketing landscape continues to pay dividends for the company and its
shareholders. We have had the privilege of working with some of Canada's
largest brands and subsequently get to design marketing solutions for some
very compelling product offerings - this makes our job that much easier.
Despite our positive financial results, we continue to improve our marketing
solutions with each and every project we do. We have also recently begun
developing more robust, rich-media applications which we hope will result in a
new source of revenue. We shall announce details if and when we realize a
favorable product to bring to market."
Interested investors are encouraged to view the complete consolidated
financial statements a swell as all other filings which are available at
www.sedar.com. Additionally, more information on the company is available at
About BlueRush Media Group
BlueRush Media Group Corp., through its wholly owned subsidiary, BlueRush
Digital Media ("BlueRush"), is a digital marketing company which combines
leading edge technology with award winning creative television production.
BlueRush creates innovative rich media solutions for distribution across all
new emerging medias: Internet, Web TV, iPods, Mobile Phones, Digital Signs and
Instore Kiosks. With expertise in programming, production, and marketing,
BlueRush provides its clients with digital video solutions which extend some
of the most recognizable brands into this emerging digital and Internet age.
BlueRush Media Group is a publicly listed company on the TSX Venture Exchange
("BTV"). For more information please visitwww.bluerush.ca.
Certain statements in this press release are forward-looking statements.
The reader is cautioned that assumptions used in the preparation of such
information, although considered reasonable by BlueRush Media Group at the
time of preparation, may prove to be incorrect.
Actual results achieved during the forecast period will vary from the
information provided herein as a result of numerous known and unknown risks
and uncertainties and other factors, many of which are beyond the control of
BlueRush Media Group. There is no representation by BlueRush Media Group that
actual results achieved during the forecast period will be the same in whole
or in part as those forecasts. All dollar amounts in this press release are
Canadian dollars unless otherwise identified.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: Laurence Lubin, President & CEO,
firstname.lastname@example.org; Daniel Ezer, CFO, Daniel@bluerush.ca