TORONTO, Dec. 21, 2018 (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 fiscal year ended August 31, 2018.
Consolidated Results
For the year ended August 31, 2018, the Company had revenues of $50.7 million, operating expenses of $48.0 million and Adjusted
EBITDA of $2.7 million. Net income for the year ended August 31, 2018 was $52 thousand.
For the year ended August 31, 2017, the Company had revenues of $50.6 million, operating expenses of $50.3
million and Adjusted EBITDA of $0.3 million. Net loss for the year ended August 31, 2017 was $6.4 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 impairment of broadcast licenses and
the gain on sale of property. 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.
Additional Information
Detailed financial information and Management’s Discussion and Analysis for the year ended August 31, 2018 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 audited consolidated financial statements for the year ended August 31, 2018, 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 Faith TV (formerly 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, as well as On The Bay Magazine, a regional lifestyle magazine published quarterly for the 20 towns and villages
of Southern Georgian Bay, Ontario. 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.
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