ZoomerMedia Limited Announces Third Quarter Financial Results
May 29 2013 - 4:30PM
Marketwired Canada
ZoomerMedia Limited (TSX VENTURE:ZUM) (the "Company"), the leader in serving the
interests of the 45+ "Zoomer" market in Canada, today announced its financial
results for the third quarter ended March 31, 2013.
Consolidated Results
For the three months ended March 31, 2013 the Company had revenues of $13.1
million, operating expenses of $11.6 million and EBITDA of $1.5 million. Net
income before taxes for the quarter was $143 thousand. For the comparable three
months ended March 31, 2012, the Company had revenues of $12.8 million,
operating expenses of $12.1 million and EBITDA of $0.7 million. The net loss
before taxes for the quarter was $1.2 million.
For the nine months ended March 31, 2013 the Company had revenues of $41.3
million, operating expenses of $34.9 million and EBITDA of $6.4 million. Net
income before taxes for the period was $2.4 million. For the comparable nine
months ended March 31, 2012, the Company had revenues of $40.8 million,
operating expenses of $38.1 million and EBITDA of $2.8 million. The net loss
before taxes for the period was $2.2 million.
EBITDA is a non-IFRS earnings measure which does not have any standardized
meaning prescribed by IFRS and therefore may not be comparable to EBITDA
presented by other companies. EBITDA represents earnings before interest
expense, income taxes, depreciation and amortization. This measure is important
to management since it is used by potential investors to evaluate the Company's
operating performance and ability to incur and service debt, and as a valuation
metric. Investors are cautioned that this non-IFRS financial measure should not
be construed as an alternative to other measures of financial performance
calculated in accordance with IFRS.
Additional Information
Detailed financial information and Management's Discussion and Analysis for the
three and nine months ended March 31, 2013 can be found on SEDAR's website at
www.sedar.com. The financial information included in this release is qualified
in its entirety and should be read together with the interim consolidated
financial statements for the three and nine months ended March 31, 2013 and the
audited consolidated financial statements for the year ended June 30, 2012,
including the notes thereto.
About ZoomerMedia Limited
ZoomerMedia is a multimedia company that serves the 45plus "Zoomer" demographic
through television, radio, magazine, internet and trade shows. ZoomerMedia's
television properties include; Vision TV, Canada's only multi-faith specialty
television service; ONE: the Body, Mind, Spirit and Love Channel, offering
programs on exercise, meditation, yoga, natural health and living a
planet-friendly lifestyle; Joytv 10 in Vancouver and Joytv 11 in Winnipeg, two
conventional stations, available over the air and on cable in their respective
markets. ZoomerMedia's radio properties include CFMZ-FM Toronto - The New
Classical 96.3FM, CFMX-FM Cobourg - The New Classical 103.1FM, Canada's only
commercial classical music radio stations serving the Greater Toronto Area (GTA)
and eastern Ontario, and CFZM-AM 740 Toronto - The New AM740 Zoomer Radio, the
last music service left on the AM dial in the GTA. ZoomerMedia also publishes
Zoomer Magazine, the largest paid circulation magazine in Canada for the mature
market. ZoomerMedia is Canada's leading provider of online content targeting the
45plus age group through many properties, the key one being
www.EverythingZoomer.com. ZoomerMedia also has a trade show division that
conducts the "Zoomer Show", consumer shows directed to the 45plus age group and
ideaCity, an annual Canadian conference also known as 'Canada's Premiere Meeting
of the Minds'.
Cautionary note on forward-looking statements
Certain statements made in this report are 'forward-looking statements' which
may include, without limitation, any statement that may predict, forecast,
indicate or imply future results, performance or achievements, and may contain
the words 'believe', 'anticipate', 'expect', 'estimate', 'project', 'will be',
'will continue', 'will likely result' or similar words or phrases.
Forward-looking statements involve risks and uncertainties, which may cause
actual results to differ materially from the forward-looking statements. The
risks and uncertainties are detailed from time to time in filings by ZoomerMedia
Limited with provincial securities commissions. New risk factors emerge from
time to time and it is not possible for management to predict all such risk
factors, nor can it assess the impact of all such risk factors on the Company's
business or the extent to which any factor, or combination of factors, may cause
actual results to differ materially from those contained in any forward-looking
statements. Such risks, uncertainties and other factors include, but are not
limited to, the following:
-- the risks inherent in magazine publishing;
-- the risks inherent in the operation of Internet media properties
generally;
-- the risks inherent in the operation of television broadcast properties
generally;
-- the risks inherent in the operation of radio broadcast properties
generally;
-- the risks inherent in the operations of affinity partners with respect
to royalty revenue;
-- the risks inherent in the operation of consumer shows generally;
-- the competition within the media industry for the baby boomer
generation's business;
-- the risks associated with governmental regulation of the publishing,
internet, radio broadcasting and television broadcasting businesses;
-- the results of legal claims made by or against the Company;
-- the dependence of the business on the continuing operation of its
computer systems; and
-- the dependence of the business on key personnel.
Given these risks, and uncertainties, investors should not place undue reliance
on forward-looking statements as a prediction of actual results. ZoomerMedia
Limited does not intend and does not assume any obligation to update these
forward-looking statements.
FOR FURTHER INFORMATION PLEASE CONTACT:
ZoomerMedia Limited
George Kempff
Vice President and Chief Financial Officer
(416) 607-7735
g.kempff@zoomermedia.ca
ZoomerMedia Limited
Leanne Wright
Vice President Communications
(416) 886-6873
leanne@zoomer.ca
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