TORONTO – Digital media distribution company Yangaroo saw a 48% year-over-year jump in revenues, but still recorded a net loss of $725,650 for its second quarter ended June 30, 2009.
The increase in revenues, combined with a 22% decrease in total expenses, accounted for the 29% lower loss in the second quarter of 2009 compared to the second quarter of 2008. EBITDA for the second quarter of 2009 was a loss of $599,305, a 35% improvement over the same period in 2008.
The company said that two of the key events in the second quarter – the launch of the next generation of its digital media distribution system (DMDS 5.0.), and the grant of the company’s U.S. patent titled Content Distribution System and Method – helped build on the growth seen in its first quarter of 2009.
“With the new capabilities of our DMDS 5.0 platform, Yangaroo’s markets have expanded to include secure digital distribution for music, music videos, television advertising, award shows, television production and beyond,” said president and CEO John Heaven, in the press release announcing the results. “By leading through innovation, we bring the best and most advanced solutions available to our customers. We expect our financial results will continue their upward trend as we move forward.”
