Mood Media Q3 Revenue $106.6 M, up 11% over Q2 2011 and up 104% over Q3 2010
Q3 EBITDA $31.1 M up 22% over Q2 2011 and up 131.7% over Q3 2010
TORONTO, October 31, CNW/ – 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 nine months ended September 30, 2011.
Lorne Abony, Chairman and CEO of Mood Media, commented:
“Our third quarter results are demonstrable proof of our successful transformation into a stronger, more profitable in-store media business. For the three months ended September 30, 2011, Mood Media delivered record Revenue of $106.6 M, up 11% from the previous quarter, and record EBITDA of $31.1 M, up 22% from the previous quarter.
We grew our revenue through significant new client wins, including Sleepy’s, Ecco, Autres, and Lancel, as well as client roll-outs. Mood Media also continued to deepen its existing partnerships, enabling the expansion of existing clients TopShop and Total into new international markets. Our team drove the substantial increase in EBITDA through our ongoing, disciplined emphasis on reducing costs in every area of our business. We are delighted with our progress and will continue to build on our achievements throughout 2011 and beyond.”
Mood Media’s financial statements and MD&A for the three and nine months ended September 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 100 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 October 30, 2011 and the risk factors identified in the short form prospectus of Mood Media dated September 23, 2010.
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.
For further information:
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