MONTREAL, March 26 /CNW Telbec/ - Kangaroo Media Inc. (TSX: KTV)
announced today results for its 2007 financial year and fourth quarter.
- 2007 revenues doubled to $14.3 million compared to 2006
- Revenues generated by commercial operations in NASCAR, F1 and NFL
- Activations up 23% year-over-year in NASCAR and up 31% in F1 over the
course of the 2007 season
- Successful trials at Le Mans and in professional golf
- $24.1 million in liquidity at year end
For the year ended December 31, 2007, revenues totaled $14.27 million
compared to revenues of $7.05 million in 2006. For the same period, the net
loss amounted to $15.97 million ($0.51 per share) compared to a net loss of
$13.22 million ($0.52 per share) in 2006. Revenues from the NASCAR operation
represented $11.6 million, $2.5 million from F1 and $183,000 from the NFL
property. In 2006, all revenues were derived from Sprint for NASCAR.
The fourth quarter ended December 31, 2007, saw revenues amounting to
$716,000 compared to revenues of $158,000 for the corresponding period in
2006. The Company recorded a net loss of $7.75 million ($0.22 per share) in Q4
2007 compared to a net loss of $5.29 million ($0.19 per share) in Q4 2006.
As at December 31, 2007, the Company's cash, cash equivalents and
short-term investments totaled $24.07 million.
"In 2007, Kangaroo consolidated its leadership with commercial operations
in some of the world's top sports properties, namely F1, NASCAR and NFL, as
well as with successful trials at Le Mans and in two professional golf
tournaments. Year-over-year activations, were up 23% in NASCAR, while they
were up 31% in F1 over the course of the season, are indicative of market
penetration momentum for our mobile media technology and customized contents.
Our focus for 2008 continues to be the signing of additional top motor sports,
stadium sports and multi events sports to grow our portfolio of strategic
properties and increase market penetration where we operate." said Robert
Mimeault, President and COO of Kangaroo Media Inc.
An analyst conference call on the 2007 results will take place on
Thursday March 27, 2008 at 8:30 A.M (Eastern). To participate or listen to the
conference call, dial 1-800-733-7560 approximately 10 minutes prior to the
start of the call. A replay of the conference call will be available until
April 3, commencing at 10:30 A.M. the day of the call. The instant replay
number is 1-877-289-8525, passcode 21267074#
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: Kangaroo Media: Claude Michaud, Chief Financial
Officer, (450) 595-2004, email@example.com; Media Relations: Emilie Verret,
(514) 844-6665, ext. 228, firstname.lastname@example.org