TORONTO, April 28, 2021 (GLOBE NEWSWIRE) – ZoomerMedia Limited (TSXV: ZUM) (the âCompanyâ), the leader in serving the interests of the âZoomerâ 45+ market in Canada, today announced its results financial statements for the second quarter ended February 28, 2021.
For the six-month period ended February 28, 2021, the Company generated revenues of $ 25.4 million, operating expenses of $ 18.6 million and adjusted EBITDA of $ 6.8 million from its activities. pursued. Net profit for the same period was $ 3.4 million.
For the comparative six-month period ended February 29, 2020, the Company recorded revenues of $ 27.7 million, operating expenses of $ 22.5 million and adjusted EBITDA of $ 5.2 million from its operations. continued activities. Net profit for the six months was $ 2.0 million.
On August 19, 2020, the Company completed the sale of substantially all of the net assets comprising the business of Darwin CX, the Software-as-a-Service (âSaaSâ) division of the Company to Irish Studios LLC. For comparison purposes, Darwin CX’s financial results for the prior year are presented separately from the Company’s continuing operations in the consolidated financial statements. Darwin CX’s net loss for the six-month period ended February 29, 2020 was $ 0.6 million.
EBITDA and Adjusted EBITDA are non-IFRS earnings measures that do not have standardized meanings prescribed by IFRS and therefore may not be comparable to EBITDA or Adjusted EBITDA reported by other companies. EBITDA represents earnings before interest expense, income taxes, depreciation and amortization. Adjusted EBITDA excludes the gain on the sale of buildings and the unrealized gain or loss on equity instruments. These metrics are important to management as they are used by potential investors to assess the operational performance of the company and its ability to incur and repay debt, and as a valuation measure. Investors are cautioned that this non-IFRS financial measure should not be interpreted as an alternative to other measures of financial performance calculated in accordance with IFRS.
Detailed financial information and MD&A for the three months ended November 30, 2020 are available on the SEDAR website at www.sedar.com. The financial information included in this press release is qualified in its entirety and should be read in conjunction with the interim consolidated financial statements for the quarter ended November 30, 2020, including the accompanying notes.
About ZoomerMedia Limited
ZoomerMedia is a multimedia company that serves the 45plus âZoomerâ demographic group through television, radio, magazines, the Internet and trade shows. ZoomerMedia’s television properties include; Vision TV, a multi-faith, family specialty television service; A: Get Fit, offering 24 hour fitness and healthy living programs; JoyTV in Vancouver, Victoria, Surrey and the Fraser Valley, and FAITH TV in Winnipeg, both dedicated to the broadcast of Christian and local programming; and TVL Channel 5, a guide to linear television channels available to Rogers households in Ontario and New Brunswick. ZoomerMedia’s radio properties include CFMZ-FM Toronto – The New Classical 96.3FM, CFMX-FM Cobourg – The New Classical 103.1FM, CFMO-FM – Collingwood – The New Classical 102.9FM, the only commercial classical music radio stations in Canada. Canada serving the Greater Toronto Area (GTA), Eastern Ontario and Collingwood, CFZM-AM 740 Toronto and CFZM-FM 96.7FM Toronto – Zoomer Radio, Toronto’s “Timeless Hits” station. ZoomerMedia also publishes ZOOMER Magazine, Canada’s largest paid-circulation magazine for the mature market; On The Bay Magazine, a regional lifestyle magazine published quarterly for the 20 towns and villages of southern Georgian Bay; as well as Tonic Magazine, a regional health and wellness magazine published every two months and distributed throughout the city of Toronto. ZoomerMedia is the
leading online content provider targeting the 45+ age group across numerous properties, the main one being www.EverythingZoomer.com. ZoomerMedia has trade show and conference divisions that produce the ZoomerShows, annual consumer shows and ideaCity, an annual Canadian conference also known as “Canada’s First Minds Meeting”.
Caution regarding forward-looking statements
The TSX Venture Exchange accepts no responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved of the information contained in this document. Certain statements made in this report are “ forward-looking statements ” which may include, without limitation, any statement which may predict, predict, indicate or imply future results, performance or achievements, and may contain the words “ believe ”, “ anticipate ”, âexpectâ, âestimateâ, âplanâ, âwillâ, âcontinueâ, âwill probably resultâ or similar words or expressions. Forward-looking statements involve risks and uncertainties, which may cause actual results to differ materially from forward-looking statements. Risks and uncertainties are detailed from time to time in documents filed 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 of these risk factors, nor to assess the impact of all of these risk factors on the business of the company or the measure. wherein any factor, or a combination of factors, may cause actual results to differ materially from those contained in forward-looking statements. These risks, uncertainties and other factors include, but are not limited to, the following:
the risks inherent in publishing magazines;
the risks inherent in the operation of Internet media properties;
the risks inherent in the exploitation of television broadcasting properties;
the risks inherent in the exploitation of radio broadcasting properties;
risks inherent in Affinity Partner operations with respect to royalty revenue;
the risks inherent in the operation of general public exhibitions,
competition within the media industry for the business of the baby boomer generation;
risks associated with government regulation of publishing, Internet, radio and television broadcasting activities;
the results of legal claims made by or against the Company;
the company’s dependence on the continued operation of its IT systems;
the company’s dependence on key personnel; and
the emergence of public health crisis and emergencies, such as Coivd-19
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 assumes no obligation to update these forward-looking statements.
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