OutdoorPartner Media announces largest quarterly revenue to date



    TORONTO, Aug. 15 /CNW/ - OutdoorPartner Media Corporation (TSXV: OPX)
("OutdoorPartner" or the "Company"), a leading alternative out-of-home media
provider, today announced financial results for its second quarter ended
June 30, 2007.

    
    HIGHLIGHTS

    -   Revenue for the three month period ended June 30, 2007 increased to
        $2,033,276 from $126,653 for the three month period ended
        June 30, 2007. On a pro forma basis (assuming the acquisition of PPM
        occurred January 1, 2006), revenue for the three month period ended
        June 30, 2007 increased 62% to $2,033,276 from $1,252,201 for the
        three month period ended June 30, 2006. The Company recorded its best
        quarter to date, in terms of revenue, led by sales of payphone kiosk
        advertising, which also reached its highest quarterly level to date.

    -   EBITDA(*) loss for the three month period ended June 30, 2007 was
        $30,060. On a pro forma basis (assuming the acquisition of PPM
        occurred January 1, 2006), EBITDA(*) loss for the three month period
        ended June 30, 2006 was $163,426.

    -   Net loss for the three month period ended June 30, 2007 was $183,171
        compared to a net loss of $384,213 for the three month period ended
        June 30, 2006.

    -   The Company executed its third Bluetooth campaign during the three
        month period ended June 30, 2007. Yahoo! Music developed the video
        content for the Pepsi campaign and over 25% of people responding to
        the Bluetooth prompt downloaded the full video content.

    -   On May 15, 2007, the Company closed a bought deal financing (the
        "Bought Deal"). An aggregate of 5,950,000 Common Shares were issued
        from treasury by way of short form prospectus at a price of $0.90 per
        share. On June 15, 2007, the exercise of the over-allotment option
        (the "Over-allotment") tied to the Bought Deal closed. The total
        aggregate gross proceeds of the Bought Deal and Over-allotment were
        CAD$6,158,250.

    -   The Company successfully increased its average campaign size and
        built on its base of Fortune 500 clients by adding new clients in new
        sectors. Advertising clients in the six months ended June 30, 2007
        included: U.S. Navy Reserve; Captain Morgan; AT&T; Anheuser Busch;
        Simmons Bedding; Rembrandt; Pepsi; Stella Artois; Nissan; Verizon;
        HBO; Sony Pictures; and Sun Microsystems.

    "Despite being the Company's seasonally softer half, OutdoorPartner
generated over $3 million in revenue in the first half and also recorded its
largest quarter to date, in terms of revenue," stated Mark Brodkin, President
and Chief Executive Officer of OutdoorPartner. "The Company has written
contracts representing fiscal 2007 revenue of over $6.7 million as it enters
its strongest sales season - this bodes well for the remainder of the year."

    SUBSEQUENT EVENTS

    -   In July, the Company was contracted to deliver a US$1.4 million,
        Hispanic-targeted campaign in over 20 U.S. markets for a Fortune 100
        client.

    -   The Company extended its PartnerBin pilot program in New York City.
        Under the terms of the expanded, two-year agreement, the Company has
        the right to place up to 125 PartnerBins in the 125th Business
        Improvement District, located in Manhattan.

    -   In August, the Company hired Rob Figa as Vice President of Sales.
        Mr. Figa is a 20-year veteran of the outdoor advertising industry.
        He previously held positions at Gannett Outdoor (now CBS Outdoor),
        Eller Media (now Clear Channel Outdoor) and Wilkins Media Company,
        where he spent nine years as a member of the executive management
        team. While at Wilkins, Mr. Figa opened a New York office and managed
        the company's Baltimore branch.

    -   The Company acquired the assets of Mira Outdoor Media, a
        Los Angeles-based company offering payphone kiosk advertising to
        local advertisers in Los Angeles, Las Vegas, San Francisco and
        Phoenix. In addition, Mira's founder has joined OutdoorPartner Media
        and will lead the development of the Company's local advertising
        business nationwide.

    "Year-to-date, the average payphone kiosk advertising campaign size has
grown to over $220,000, an increase of 59% over 2006," stated Brodkin. "The
growth in campaign size reflects an increasing acceptance of payphone kiosk
advertising and its ability to deliver results."


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

                                                    Three months ended
                                              June 30, 2007    June 30, 2006

    Revenue                                    $  2,033,276     $    126,653
    Direct Costs                                  1,074,063           22,404
                                              -------------------------------
    Gross Profit                                    959,213          104,249

    Sales, General & Administrative expenses        989,273          492,806

                                              -------------------------------
    EBITDA(*)                                  $    (30,060)    $   (388,557)

    Amortization                                    105,477           20,867
    Taxes                                            38,324                -
    Stock-based compensation                         22,668                -
    Other                                               682            7,261
    Interest expense/(income)                       (14,040)         (32,472)
                                              -------------------------------
    Net loss                                   $   (183,171)    $   (384,213)
                                              -------------------------------



    OutdoorPartner Media Corporation
    Reconciliation of EBITDA(*) to Net loss

                                                                 Pro Forma(1)
                                            3 months period  3 months period
                                                      ended            ended
                                              June 30, 2007    June 30, 2006

    EBITDA(*)                                  $    (30,060)    $   (163,426)

    (Add)/Deduct

    Taxes                                            38,324                -
    Amortization                                    105,477           29,598
    Stock-based compensation                         22,668                -
    Interest                                        (14,040)         (18,902)
    Other                                               682            5,050
                                              -------------------------------
    Net loss                                   $   (183,171)    $   (179,171)
    -------------------------------------------------------------------------
    (1) Assuming the acquisition of Prime Point occurred January 1, 2006

    (*) 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 operates in the alterative out-of-home advertising
industry. The Company provides its advertising clients with an opportunity to
post messages on its inventory of litter/recycling receptacles
("PartnerBins"), payphone kiosks and lifeguard towers. OutdoorPartner's
payphone kiosk inventory consists of over 700,000 payphone kiosks located in
all of the top 50 Designated Market Areas ("DMAs"). The Company's PartnerBins
are currently located in ten U.S. communities, including: New York City,
Atlanta, St. Louis and Baltimore. The Company's lifeguard tower inventory is
located on the beaches of Southern California. In addition to static billboard
advertising, OutdoorPartner provides advertisers with the opportunity to push
rich digital content from its payphones to consumers' Bluetooth enabled mobile
phones with a service called PrimeCasting. The Company's revenue is generated
through the sale of advertising space on payphone kiosks, PartnerBins, and
lifeguard towers and through the sale of the Company's PrimeCasting service.
More information may be found by visiting www.outdoorpartner.com or
www.primepointmedia.com.

    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 2006 Annual Information Form
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.

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.

    %SEDAR: 00021410E




For further information:

For further information: Mark Brodkin, CEO, OutdoorPartner Media
Corporation, 296 Richmond Street West, Suite 305, Toronto, Ontario, M5V 1X2,
Canada, T: (416) 602-1602, F: (416) 352-5070, www.outdoorpartner.com

Organization Profile

OUTDOORPARTNER MEDIA CORPORATION

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