Mood Media Q2 Pro-Forma EBITDA grows 15.3% over previous quarter to $25.5 M
TORONTO, August 15, – Mood Media Corporation (ISIN: CA61534J1057) (TSX:MM / LSE AIM:MM) (“Mood Media” or the “Company”), one of the world’s leading in-store media solution providers, announced today its results for the three and six months ended June 30, 2011.
Lorne Abony, Chairman and CEO of Mood Media, commented:”We are building a global in-store media leader, and the results we delivered in the second quarter are evidence of the tremendous strides we are making as we continue to execute against our strategy.
For the three months ended June 30, 2011, Mood Media delivered record Revenue of $96 M, and record EBITDA of $25.5 M, up 15.3% organically from the previous quarter. Revenue growth was fuelled by our disciplined and aggressive sales efforts.
Our sustained track record of new client wins, which included, in the quarter, Gucci, Aeropostale, and Hooters, speaks to the strength of our innovative product offerings.
Mood’s record EBITDA growth was driven by a comprehensive focus on sales and operational excellence. We are delighted with our 15% quarter over quarter EBITDA growth and we are delighted with the business we are building.
In light of our momentum and progress, we look forward to a very promising remainder of 2011.”
Mood Media’s financial statements and MD&A for the three and six months ended June 30, 2011 have been filed on SEDAR.
About Mood Media Corporation
Mood Media Corporation (TSX:MM/ LSE AIM:MM), named Canada’s fastest growing company by PROFIT Magazine is a leading in-store media specialist that uses a mix of music, visual and scent media to help its clients communicate with consumers with a view to driving incremental sales at the point-of-purchase.
Operating through its two principal divisions, In-Store Media and Retail Point-of-Purchase; Mood Media Corporation works with over 470,000 commercial locations in over 40 countries throughout North America, Europe, Asia and Australia.
Through its subsidiaries Mood Media, Muzak, and Mood Entertainment, Mood Media Corporation’s products and services reach 150 million people every day in a broad client base including 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.
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 the Risk Factors section of Mood Media’s management discussion and analysis dated August 15, 2011 and the risk factors identified in the annual information form of Mood Media dated June 30, 2011, 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.
Mood Media presents EBITDA information as a supplemental figure because management believes it provides useful information regarding operating performance. EBITDA is not a recognized measure under International Financial Reporting Standards (“IFRS”), does not have standardized meaning, and is unlikely to be comparable to similar measures used by other companies. Accordingly, investors are cautioned that EBITDA should not be construed as an alternative to net earnings or (loss) determined in accordance with IFRS as an indicator of the financial performance of Mood Media or as a measure of Mood Media’s liquidity and cash flows.
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