Yangaroo Surpasses Major Financial Milestoneadmin
Quarterly Revenues Exceed $1 Million For First Time
TORONTO, CANADA – January 21, 2014 – YANGAROO Inc., (TSX-V: YOO, OTCBB: YOOIF) the industry’s leading secure digital media management company, is pleased to announce that revenues for the fourth quarter of 2013 surpassed the $1 million milestone for the first time in the company’s history. Revenue grew approximately 25% from the prior quarter.
Growth continues from all sectors of the business. The Advertising Division led the way with revenue from 15 new clients and brands that came on board during the quarter, in addition to increased business from existing clients. The Music Division saw new revenues from the delivery of HD music videos to Sean "Diddy" Combs‘ new music television network, Revolt, as well as continued growth from the YANGAROO Awards Division.
"What a great way to end 2013, especially after all the work that went into getting the capital structure of the company in order," said Gary Moss, President and CEO of YANGAROO. "Surpassing the $1 million mark in the fourth quarter could not have come at a better time. We look at this as the tipping point for this company and 2014 will be a very exciting year. We expect this growth to both continue and accelerate with the expansion of our New York–based Advertising team and our Entertainment Division expanding its relationships beyond North America."
The audited fourth quarter and 2013 fiscal year results are expected to be announced in April, 2014.
YANGAROO is a company dedicated to digital media management. YANGAROO’s patented Digital Media Distribution System (DMDS) is a leading secure B2B digital cloud based solution focused on the music and advertising industries. The DMDS solution provides more accountable, effective, and far less costly digital management of broadcast quality media via the Internet. It replaces the physical, satellite and closed network distribution and management of audio and video content, for music, music videos, and advertising to television, radio, media, retailers, and other authorized recipients. The YANGAROO Awards platform is now the industry standard and powers most of North America’s major awards shows.
YANGAROO has offices in Toronto, New York, and Los Angeles. YANGAROO trades on the TSX Venture Exchange (TSX-V) under the symbol YOO and in the U.S. under OTCBB: YOOIF. For further information, please contact Gary Moss at 416-534-0607 ext.111 or visit www.yangaroo.com.
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The statements contained in this release that are not purely historical are forward-looking statements and are subject to risks and uncertainties that could cause such statements to differ materially from actual future events or results. Such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Posted: January 21st, 2014 under ACCESSWIRE.