Pixman Nomadic Media Inc.
TSX VENTURE : PMN

Pixman Nomadic Media Inc.

December 01, 2008 08:30 ET

Pixman Significantly Improves Its Performance in First Quarter

- Fifth consecutive quarter with total revenue exceeding that of the corresponding period of the previous fiscal year. - Reduction in net loss of $485,000 or 73.8%. - $431,000 or 88.5% improvement in EBITDA. - 56.9% improvement in operating margins. - $5 million in cash flow from financing activities.

MONTREAL, QUEBEC--(Marketwire - Dec. 1, 2008) - Pixman Nomadic Media Inc. (TSX VENTURE:PMN) ("Pixman" or the "Company") announced its financial results for the first quarter of fiscal year 2009. The financial statements reflect the soundness of its business plan and marketing strategy: net loss shrank by 73.8%, operating margins grew by 56.9%, and total revenue reached $718,944.

"We've improved our financial performance confirming that our strategy of expanding our value-added resellers ("VAR") network is allowing the Company to grow," said Philippe Gribeauval, Pixman's President and Chief Executive Officer. "In this regard, we concluded additional VAR agreements during the first quarter, particularly in America, Europe and Asia. We're gradually building our network around the world and are in discussions with close to forty other potential partners."

Following the Company's recent financing, Daniel Langlois, Executive Chairman, said: "These investments have reinforced Pixman's resources to implement the medium term strategic plan, focused on the Pixpal® project. This concept, aimed at developing virtual communities around major brands and connecting consumers to their preferred brands, is well underway to becoming reality: all the elements are in place to make this leap forward in terms of both technology and marketing."

Financial Highlights

- The Company reported a fifth consecutive quarter with total revenue exceeding that of the corresponding period of the previous fiscal year.

- Total revenue for the three-month period ended September 30, 2008 reached $718,944, a 2.2% increase over Q1 2008.

- Earnings before interest, taxes, depreciation and amortization (EBITDA) improved by approximately $431,000, or 88.5%, compared to the corresponding quarter of the previous fiscal year.

- Net loss of $172,497, or $0.004 per common share, compared to $658,080, or $0.02 per common share, for the corresponding quarter of the previous year, a 73.8% reduction versus the same period last year.

The Company's financial statements and management discussion and analysis are available on the SEDAR website at www.sedar.com.

Business Highlights

- The Company concluded agreements for private placements worth over $7 million. These investments will allow it to develop its Pixpal dynamic community project.

- The Company continued expanding its VAR network. To date, it has 22 VAR partners across North and South America, Europe, Asia and Africa.

- Many major brands have used Pixman solutions to conduct large-scale campaigns, particularly Google in a marketing offensive at New York's Grand Central Terminal, Bristol-Myers Squibb during an awareness campaign in four Canadian cities, Levi's in order to re-launch its 501 model in 11 European cities, and Research In Motion to promote its new smart phones at large-scale targeted events in Canada and the United States.

About Pixman Nomadic Media Inc.

Pixman Nomadic Media (www.pixman.com) is a tactical and mobile marketing corporation offering a range of nomadic multimedia solutions and services to advertisers throughout the world. Firmly established in over 25 countries thanks to its extensive network of value-added resellers, the Corporation makes use of its own patented multimedia systems to offer an alternative means of promoting brands, products and services to consumers. Common shares of Pixman Nomadic Media are listed on the TSX Venture Exchange under the symbol "PMN".

Forward Looking Statements

This news release contains forward-looking information. These statements relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on information currently available to management of Pixman Nomadic Media Inc. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements. These forward-looking statements are made as of the date hereof and Pixman Nomadic Media Inc. does not assume any obligation to update or revise them to reflect new events or circumstances.

The TSX Venture Exchange has not reviewed and does not accept any responsibility for the adequacy or accuracy of this release.

Contact Information

  • Pixman Nomadic Media Inc.
    Philippe Gribeauval
    President and Chief Executive Officer
    514-845-9669, ext. 264; Toll free: 1-877-PIXMAN-1
    pgribeauval@pixman.com
    or
    Pixman Nomadic Media Inc.
    Michel Garneau
    Chief Financial Officer
    514-845-9669, ext. 224; Toll free: 1-877-PIXMAN-1
    mgarneau@pixman.com
    or
    Investor Relations:
    Evolution Group Inc.
    Sylvain Archambault
    514-448-4887; Toll free: 1-866-703-4887
    s.archambault@evolutiongrp.com