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ZoomerMedia Ltd V.ZUM

Alternate Symbol(s):  ZUMRF

ZoomerMedia Limited is a multimedia company engaged in creating content, services, and experiences for Canada's audiences. The Company’s Television segment consists of its specialty and conventional television stations (Vision TV, ONE TV, Joy TV in Vancouver, FAITH TV in Winnipeg, and TVL Channel 5). Its Radio segment consists of the Company’s radio stations. Its Print segment publishes ZOOMER magazine, On The Bay magazine, and Tonic. Its Membership & Royalty segment includes the operating activities of the Canadian Association of Retired Persons (CARP) as well as membership and marketing services to CARP. Its Digital segment consists of the operation of the digital companies, such as blogTO and Daily Hive, as well as the operation of EverythingZoomer.com and other digital platforms. Its other activities include the production of ZoomerShows, and other trade and consumer shows directed to the 45 plus age group. It operates five TV, two radio, three print, and 22 digital properties.


TSXV:ZUM - Post by User

Comment by nozzpackon Jul 24, 2020 7:01pm
48 Views
Post# 31317290

RE:RE:Another Very Strong Quarter...$0.015 /Share EPS

RE:RE:Another Very Strong Quarter...$0.015 /Share EPS

 

ZoomerMedia earns $3-million in nine months

 

2020-07-24 17:44 ET - News Release

 

Mr. Terence Chan reports

ZOOMERMEDIA LIMITED ANNOUNCES THIRD QUARTER FINANCIAL RESULTS

ZoomerMedia Ltd. has released its financial results for the third quarter ended May 31, 2020.

Consolidated results

For the nine months ended May 31, 2020 the Company generated revenues of $40.1 million, operating expenses of $31.5 million and Adjusted EBITDA of $8.6 million from its continuing operations. Net income for the same period was $3.0 million.

For the comparative nine months ended May 31, 2019 the Company had revenues of $39.1 million, operating expenses of $35.6 million and Adjusted EBITDA of $3.4 million from its continuing operations. Net income for the nine months was $1.4 million.

On May 18, 2020 the Company announced that it had entered into an agreement with Irish Studios LLC for the sale of substantially all of the net assets comprising the operations of Darwin CX, the Company's Software-as-a-Service ("SaaS") division. The transaction is expected to close on or around August 17, 2020. As Darwin CX has been classified as held-for-sale tor the period ended May 31, 2020, its financial results have been presented separately from the result of the Company's continuing operations in the consolidated financial statements. For comparative purpose, the financial results for the prior year has been restated. Darwin CX's net loss for the nine months ended May 31, 2020 and 2019 were $0.3 million and $0.9 million respectively.

Additional Information

Detailed financial information and Management's Discussion and Analysis for the nine months ended May 31, 2020 can be found on SEDAR's website. 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 six months ended May 31, 2020, including the no

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