ZoomerMedia Limited Announces Third Quarter Financial Results 2020-21

ZoomerMedia Limited Announces Third Quarter Financial Results 2020-21

Additional Information Story continues Detailed financial information and Management’s Discussion and Analysis for the nine months ended May 31, 2021 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 nine months ended May 31, 2021, including the notes thereto.

On August 19, 2020 the Company closed the sale for substantially all of the net assets comprising the operations of Darwin CX, the Company’s Software-as-a-Service (“SaaS”) division to Irish Studios LLC. For comparative purpose, the financial results of Darwin CX for the prior year is presented separately from the Company’s continuing operations in the consolidated financial statements. Darwin CX’s net loss for the nine months ended May 31, 2020 was $0.9 million. For the comparative nine months ended May 31, 2020 the Company had revenues of $40.1 million, operating expenses of $32.3 million and Adjusted EBITDA of $7.8 million from its continuing operations. Net income for the nine months was $3.0 million.

EBITDA and Adjusted EBITDA are non-IFRS earnings measures which do not have any standardized meaning prescribed by IFRS and therefore may not be comparable to EBITDA or Adjusted EBITDA presented by other companies. EBITDA represents earnings before interest expense, income taxes, depreciation and amortization. Adjusted EBITDA excludes the gain on sale of property and the unrealized gain or loss on equity instruments. These measures are important to management since they are 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. For the nine months ended May 31, 2021 the Company generated revenues of $36.8 million, operating expenses of $28.4 million and Adjusted EBITDA of $8.4 million from its continuing operations. Net income for the same period was $3.6 million.

Cautionary note on forward looking statements The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. 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: leading provider of online content targeting the 45plus age group through many properties, the key one being www.EverythingZoomer.com. ZoomerMedia has trade show and conference divisions that produce the ZoomerShows, annual consumer shows directed to the Zoomer demographic and ideaCity, an annual Canadian conference also known as ‘Canada’s Premiere Meeting of the Minds’.

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, a multi-faith, family friendly specialty television service; ONE: Get Fit, offering 24 hours of fitness and healthy living programs; JoyTV in Vancouver, Victoria, Surrey and the Fraser Valley, and FAITH TV in Winnipeg, both devoted to broadcasting Christian and local programming; and TVL Channel 5, a linear television channel guide 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, Canada’s only commercial classical music radio stations 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, the largest paid circulation magazine in Canada 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 across the City of Toronto. ZoomerMedia is Canada’s About ZoomerMedia Limited

The News Highlights

  • ZoomerMedia Limited Announces Third Quarter Financial Results 2020-21
  • Check the latest News news updates and information about business, finance and more.
Disclaimer: If you need to edit or update this news from compsmag then kindly contact us Learn more

For Latest News Follow us on Google News


Latest Headlines
  • Show all
  • Trending News
  • Popular By week
The Xbox executive picks his favourite GameCube game, which is considered one of Nintendo’s best-kept secrets
The Xbox executive picks his favourite GameCube game, which is considered one of Nintendo’s best-kept secrets
A perfect paintings that was once left with no sequel regardless of mesmerizing the avid gamersThe charismatic Xbox boss replied an account asking in regards ...
Nebraska Scrap Tire Business Works to Mortify Mountain of Tires
Nebraska Scrap Tire Business Works to Mortify Mountain of Tires
The Nebraska Department of Environment and Energy said a inform free terminal hebdomad that B-Rose Tire Recycling of Alvo had prefabricated momentous ...
Financial Severity Responds to Attacks on Legitimate Tax Planning
Welding News Owner Shocked After Thieves Steal Tens of Thousands of Dollars in Equipment – NewsDenver
A smashed garage door and busted handle show are now proof of the thieves’ first and failed attempts to get in. Long says they eventually got into the space ...
Answers to the Amazon LG Gram Laptop Quiz: Get Rs. 10,000 in Amazon Pay Balance
Answers to the Amazon LG Gram Laptop Quiz: Get Rs. 10,000 in Amazon Pay Balance
The process is the same as the other Amazon quiz contests. You will have to download the Amazon mobile app from the Google Play Store or Apple App Store. ...
Georgia to get fewer monoclonal antibodies as the feds take over the supply
Georgia to get fewer monoclonal antibodies as the feds take over the supply
Monoclonal antibodies are lab-made proteins that mimic the immune system’s ability to fight off harmful antigens such as viruses. South Georgia Medical Center ...
Trailblazing tourist trip to orbit finishes with splashdown
Trailblazing tourist trip to orbit finishes with splashdown
Their SpaceX capsule parachuted into the ocean just before sunset, not far from where their chartered flight began three days earlier. Four space tourists ...
On iOS 13 and older, Microsoft Teams will no longer receive updates
On iOS 13 and older, Microsoft Teams will no longer receive updates
Microsoft has revealed that its video conferencing service will soon only work on iOS 14 and above, meaning a change for many users with older devices. ...
Tequila bottles spotted on new Boeing Air Force One jet
Tequila bottles spotted on new Boeing Air Force One jet
Two small bottles of tequila were found this month on a Boeing 747-8 under construction in San Antonio, The Journal said, prompting the company to launch an ...
News Owner Tired of Relatives Treating Her Like an ATM |  News, Sports, Jobs
News Owner Tired of Relatives Treating Her Like an ATM | News, Sports, Jobs
HINT TO: SEND A GREAT Heloise I regularly give to my favorite charities and to my church. One Sunday a month I work at a soup kitchen, and I give my mother ...
Apply for Atlanta Emergency Rental Assistance Money While You Can
Crypto Markets Take a Dip – See How Bitcoin Could Fall Before Analyst Justin Bennett Reverses Rising on BTC
Break that, and 94.60 is next.” “$DXY is already testing 93.40. Source: Justin Bennett/Twitter I’m anticipating a decent bounce from there, and I’ll be well ...
Show next
Compsmag - Latest News from tech, business and health
Logo