TORONTO, Nov. 26, 2012 /CNW/ - Mood Media Corporation (ISIN: CA61534J1057) (TSX:MM / LSE AIM:MM), one of the world's largest integrated providers of in-store customer solutions, has seen sustained growth in its visual customer base, is introducing new and innovative services to a growing list of premier brands and as announced with our third quarter 2012 report, has released key performance indicators that illustrate its positive business momentum.
The Company announces that its ongoing investment program, designed to build best-in-class visuals solutions, took another step forward with the completion of its state-of-the-art visual lab in Charlotte, N.C. Part showroom and part laboratory, the space provides a cutting-edge forum for Mood Media's visual team to create new digital signage concepts for a growing base of clients across the world. In order to capitalize on the significant visuals opportunity, the Company also has accelerated its visuals investment program, the costs of which are likely to have a modest impact during Q4 2012 and into early 2013. The Company wishes to reiterate its belief that the visual and social media business is a very compelling opportunity that it is uniquely positioned to capitalize on.
In addition, the Company wishes to provide an update on its plans to realize significant cost savings as it integrates recent acquisitions. As mentioned in our third quarter earnings conference call, the pace of realizing those synergies will accelerate throughout 2013 with full realization expected in mid-2013. Management remains highly confident that it will be able to achieve the magnitude of synergies originally expected at the time the acquisitions were made. To that effect, it has largely completed the organization of internal resources to deliver its targets. The Company is also finalizing incremental initiatives that could produce further sustained efficiency gains.
Mood Media also stated that it is continuing to assess the impact of Hurricane Sandy, which hit the United States in late October 2012, causing widespread damage across 24 states including the entire eastern seaboard. Damage in New York and New Jersey, where Mood Media has significant customer installations, was particularly severe and has affected its logistics operations. While the impact of Hurricane Sandy is not capable of being fully quantified yet, management does not currently believe that the impact will be material.
For 2013 and beyond, Management remains strongly of the view that Mood Media's strategy of delivering new and innovative services will create compelling customer connections for its clients and will produce sustained improvements in its operating and financial results.
In this release, the terms "we", "us", "our", "Mood Media" and "the Company" refer to Mood Media Corporation and our subsidiaries.
About Mood Media Corporation
Mood Media Corporation (TSX:MM/ LSE AIM:MM), is one of the world's largest designers of in-store consumer experiences, including audio, visual, interactive, scent, voice and advertising solutions. Mood Media's solutions reach over 150 million consumers each day through 560,000 subscriber locations in over 40 countries throughout North America, Europe, Asia and Australia.
Mood Media Corporation's client base includes more than 850 U.S. and international brands in diverse market sectors that include: retail, from fashion to financial services; hospitality, from hotels to health spas; and food retail, including restaurants, bars, quick-serve and fast casual dining. Our marketing platforms include 77% of the top 100 retailers in the United States and 100% of the top 50 quick-serve and fast-casual restaurant companies.
For further information about Mood Media, please visit www.moodmedia.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements. The words "believe", "expect", "anticipate", "estimate", "intend", "may", "will", "would" and similar expressions and the negative of such expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements are subject to important assumptions. While Mood Media considers these factors and assumptions to be reasonable based on information currently available, they may prove to be incorrect.
Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such factors include, but are not limited to: the impact of general market, industry, credit and economic conditions, currency fluctuations as well as the risk factors identified in Mood Media's management discussion and analysis dated March 11, 2012 and Mood Media's annual information form dated March 30, 2012, both of which are available on www.sedar.com.
Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. All of the forward-looking statements made in this press release are qualified by these cautionary statements and other cautionary statements or factors contained herein, and there can be no assurance that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, Mood Media.
Forward-looking statements are given only as at the date hereof and Mood Media disclaims any obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable laws.
SOURCE: Mood Media Corporation
For further information:
Mood Media Corporation
Vice President, Investor Relations
Tel: +1 (416) 565 9295
Panmure Gordon (UK) Limited
+44 20 7459 3600