TORONTO, July 20, 2017 (GLOBE NEWSWIRE) -- ZoomerMedia Limited (TSXV:ZUM) (the “Company”), the leader in serving the interests
of the 45+ “Zoomer” market in Canada, today announced its financial results for the third quarter ended May 31, 2017.
Consolidated Results
For the three months ended May 31, 2017 the Company had revenues of $12.3 million, operating expenses of $12.0 million and Adjusted
EBITDA of $0.3 million. Net loss for the three months ended May 31, 2017 was $0.3 million. For the comparative three months ended
May 31, 2016 the Company had revenues of $13.6 million, operating expenses of $11.8 million and Adjusted EBITDA of $1.9 million.
Net income for the three months ended May 31, 2016 was $13.2 million.
For the nine months ended May 31, 2017 the Company had revenues of $38.4 million, operating expenses of $36.8
million and Adjusted EBITDA of $1.6 million. Net loss for the nine months ended May 31, 2017 was $0.1 million. For the comparative
nine months ended May 31, 2016 the Company had revenues of $40.1 million, operating expenses of $35.2 million and Adjusted EBITDA
of $4.9 million. Net income for the nine months ended May 31, 2016 was $9.9 million.
EBITDA and Adjusted EBITDA are not calculations based on IFRS and should not be considered an alternative to net
income in measuring the Company’s performance, nor should they be used as an exclusive measure of cash flow, because they do not
consider the impact of movements in working capital (including liabilities relating to program rights), capital expenditures, debt
principal reductions and other sources and uses of cash which are disclosed in the consolidated statements of cash flows. Investors
should carefully consider the specific items included in our computation of EBITDA and Adjusted EBITDA.
Additional Information
Detailed financial information and Management’s Discussion and Analysis for the three and nine months ended May
31, 2017 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 three and nine months ended May 31, 2017,
including the notes thereto.
About ZoomerMedia Limited
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, Canada’s only multi-faith specialty
television service; ONE: Get Fit, offering programs on exercise, meditation, yoga, natural health and living a planet-friendly
lifestyle; JoyTV in Vancouver, Victoria, Surrey and the Fraser Valley, and HOPETV, a lifestyle television service out of
Winnipeg devoted to broadcasting Christian programming and is available in approximately 6 million Canadian homes.
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. ZoomerMedia is Canada’s leading provider of online content targeting the 45plus age group through many properties, the key
one being www.EverythingZoomer.com. ZoomerMedia also 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'.
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:
- the risks inherent in magazine publishing;
- the risks inherent in the operation of Internet media properties;
- the risks inherent in the operation of television broadcast properties;
- the risks inherent in the operation of radio broadcast properties;
- the risks inherent in the operations of affinity partners with respect to royalty revenue;
- the risks inherent in the operation of consumer shows generally,
- the competition within the media industry for the baby boomer generation’s business;
- the risks associated with governmental regulation of the publishing, internet, radio broadcasting and television broadcasting
businesses;
- the results of legal claims made by or against the Company;
- the dependence of the business on the continuing operation of its computer systems; and
- the dependence of the business on key personnel.
Given these risks, and uncertainties, investors should not place undue reliance on forward-looking statements as
a prediction of actual results. ZoomerMedia Limited does not intend and does not assume any obligation to update these
forward-looking statements.
For further information please contact: David Vickers Chief Financial Officer ZoomerMedia Limited +1 416-607-7704 d.vickers@zoomermedia.ca Leanne Wright Vice President Communications ZoomerMedia Limited +1 416-886-6873 leanne@zoomer.ca
