BV! Media generated $1.2 million in EBITDA for 2009

MONTREAL, April 22 /CNW Telbec/ - BV! Media inc. (TSX Venture Exchange: BVM), an Internet advertising and content firm, released its financial statements for the fiscal year ended December 31, 2009. The 2009 fiscal year was the first full year including the operating results of NetWorldMedia Inc., a previous competitor acquired on October 31, 2008. Largely due to the successful integration of NetWorldMedia in 2009, BV! Media almost doubled sales to $ 11.2 million and increased gross profit by 82%.

BV! Media registered $429,705 in net earnings in 2009, compared with a net loss of $315,053 in 2008. The corporation additionally registered an almost six-fold increase in EBITDA, to $1.2 million - or 11% of sales - in 2009. Earnings per share of $0.01 in 2009 compares to a loss per share of $0.01 in 2008.

"We are pleased to have delivered strong growth and significantly improved financial results in 2009", says Tom Vorias, Chief Financial Officer of BV! Media. "Having done so in a very challenging economic environment additionally gives us a lot of confidence in our prospects for this year. The recent opening of a sales office in Toronto should help us increase our share of the robust Canadian Internet advertising market. The 21% EBITDA margin we achieved in the last quarter of 2009 also demonstrates that we can sustain healthy growth rates while generating solid cash flow for our shareholders."

In the fourth quarter of 2009 ("Q4 2009"), ended on December 31, 2009:

    -   Revenues increased by 31% compared to revenues in the fourth quarter
        of 2008 ("Q4 2008"), ended on December 31, 2008, partly due to the
        acquisition of NetWorldMedia inc. Revenues also increased by 35%
        compared to the third quarter of 2009 ("Q3 2009") ended on
        September 30, 2009, due to a strong seasonal pick up in advertising

    -   Net earnings of $ 325,281 in Q4 2009 compares to a net loss of
        $ 232,612 in Q4 2008. This difference is mostly due to an impairment
        of intangible assets charge taken in Q4 2008 and also due to an
        increase in advertising sales. Net earnings also increased by 298% in
        Q4 2009 compared to Q3 2009, mostly due to an increase in gross

    -   EBITDA increased by 375% in Q4 2009 compared to Q4 2008, mostly due
        to the difference in net earnings between both periods. On a
        sequential basis, EBITDA increased by 207% compared to Q3 2009.

Table summarizing the key financial results

                       Fiscal year   Fiscal year       Quarter       Quarter
                             ended         ended         ended         ended
                       December 31,  December 31,  December 31,  December 31,
                              2009          2008          2009          2008
    Revenues          $ 11,163,245   $ 5,729,992   $ 3,272,980   $ 2,492,299
    Gross profit       $ 5,640,996   $ 3,107,941   $ 1,688,462   $ 1,213,137
    Net earnings
     (loss)              $ 429,705    ($ 315,053)    $ 325,281    ($ 232,612)
    Basic and diluted
     earnings per
     share                  $ 0.01       ($ 0.01)       $ 0.01       ($ 0.00)
    EBITDA*          $ 1,194,564     $ 209,686     $ 698,568     $ 147,233
    % EBITDA on sales         10.7%          3.6%         21.3%          5.9%
    Adjusted EBITDA* $ 1,255,447     $ 274,523     $ 694,493     $ 164,793
    * : EBITDA is defined as earnings before interest, income taxes,
        depreciation and amortization, and impairment of fixed assets,
        intangible assets and long-term investments. Adjusted EBITDA is
        defined as EBITDA to which the corporation adds stock-based
        compensation, since this expense does not result in any use of
        operating cash flows by the Corporation. EBITDA and Adjusted EBITDA
        are provided as a supplementary earnings measure to assist readers in
        determining the ability of the Corporation to generate cash from
        operations and to cover financial charges. They are also widely used
        for business valuation purposes. These measures do not have a
        standardized meaning prescribed by Canadian generally accepted
        accounting principles and may not be comparable to similar measures
        presented by other companies.

BV! Media will hold its annual and special meeting of shareholders on May 27, 2010 at 10:00 A.M. at the offices of Gowling Lafleur Henderson LLP, 1 Place Ville-Marie, 37th Floor, Lafleur Boardroom, Montreal, Québec.

About BV! Media inc.

BV! Media is a leading Canadian Internet advertising network, representing exclusively over 400 top-tier publishers with a combined reach of over 15 million unique visitors per month in Canada, and the publisher of the BRANCHEZ-VOUS! news and information portal.

BV! Media is listed on the TSX Venture exchange under the symbol BVM and has approximately 60.4 million shares outstanding. Additional information on the Corporation can be obtained on SEDAR and at

Neither the 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.


For further information: For further information: Media: Patrick Pierra, President, Content and co-Chief Executive Officer, (514) 337-9065, ext. 249,; Analysts and investors: Tom Vorias, Chief Financial Officer, (514) 337-9065, ext. 223,

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