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Yangaroo Inc (2)
Symbol YOO
Shares Issued 61,288,140
Close 2018-04-23 C$ 0.34
Market Cap C$ 20,837,968
Recent Sedar Documents

Yangaroo earns $77,228 in 2017

2018-04-24 10:42 ET - News Release

Mr. Gary Moss reports

YANGAROO REPORTS 2017 ANNUAL AND FOURTH QUARTER RESULTS

Yangaroo Inc. has released its results for the year and fourth quarter ended Dec. 31, 2017.

Revenue for the fiscal year 2017 was $7,655,166, 43 per cent higher than in fiscal 2016 with normalized EBITDA (earnings before interest, taxes, depreciation and amortization) of $952,271, an increase of $1.5-million over the previous year. Revenue for the fourth quarter was $1,909,974, 22 per cent higher than the revenue for the same period in 2016 with normalized EBITDA of $150,879, 6 per cent less than in the fourth quarter of 2016.

The advertising division had an annual revenue of $4,712,325, marking an 84-per-cent increase over 2016. Fourth quarter revenue was $1,179,637, an increase of 46 per cent over the same period in 2016.

The entertainment division's annual revenue was $2,942,841, an increase of 6 per cent over 2016. Fourth quarter revenue was $730,337, a decrease of 4 per cent over the same period in 2016, primarily due to the timing of booking awards show revenue.

"I am very proud to announce the first full year of profitability for the company," said Gary Moss, president and chief executive officer of Yangaroo. "Improving the bottom line performance of the company by $1.5-million year on year is proof of the scalable business model that we have built. While pleased with the growth to date, we continue to strive towards our goal of 10-per-cent advertising market share. We have worked hard to position Yangaroo as a viable player in the advertising space and, as a result, our pipeline of prospects has never looked better."

Total operating expenses for the year ended Dec. 31, 2017, were $7,351,905, 21 per cent higher than the previous year, primarily as a result of a one-time restructuring cost, accrual for incentive bonuses (which are linked to overall profitability), increased commission due to increased sales and increased accruals for bad debts recognized in the year. The income from operations for 2017 was $303,261, an improvement of $1,021,041, from a loss of $717,780 in 2016. The income from operations for the fourth quarter of 2017 was $103,154, decreasing 19 per cent over the same period in 2016, primarily as a result of the bonus and bad debts accruals mentioned herein. Excluding the impact of non-cash, non-operating and one-time restructuring costs, fiscal year 2017 had a normalized cash flow of $952,271, an improvement of $1,499,983 over 2016 and the fourth quarter of 2017 had normalized cash flow of $150,879, a decrease of 6 per cent.

                                  SUMMARY OF OPERATING RESULTS 

                                                 Year ended Dec. 31,   Fourth quarter ended Dec. 31,       
                                                 2017          2016             2017           2016
     
Revenue                                   $ 7,655,166   $ 5,336,831      $ 1,909,974   $  1,569,355
EBITDA (loss)                                 265,785      (663,184)         137,508        181,394  
Normalized EBITDA (loss)                      952,271      (547,712)         150,879        160,093  
Net income (loss) for the period               77,228      (834,933)          88,493        139,987  
Income (loss) per share 
(basic and diluted)                             0.001        (0.014)           0.001          0.002  

The full text of the financial statements and management discussion and analysis is available on Yangaroo's website and on SEDAR.

About Yangaroo Inc.

Yangaroo is a company dedicated to digital media management. Yangaroo's patented digital media distribution system (DMDS) is a leading secure business-to-business (B2B) digital cloud-based solution focused on the music and advertising industries.

Yangaroo has offices in Toronto, New York and Los Angeles.

We seek Safe Harbor.

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