ZoomerMedia Limited
TSX VENTURE : ZUM

ZoomerMedia Limited

February 26, 2010 13:44 ET

ZoomerMedia Limited Announces Second Quarter and Year to Date Financial Results

TORONTO, ONTARIO--(Marketwire - Feb. 26, 2010) - ZoomerMedia Limited (TSX VENTURE:ZUM), a leader in serving the interests of the 45+ "Zoomer" market, through the publication of ZOOMER magazine and its suite of websites, including www.50plus.com, today announced financial results for the second quarter and six months ended December 31, 2009.

Second Quarter and Year to Date Results

For the three months ended December 31, 2009, the Company had revenues of $3.1 million and expenses of $4.0 million with a net loss after tax of $884,136. For the six months ended December 31, 2009, the Company had revenues of $5.4 million and expenses of $7.3 million with a net loss after tax of $1.7 million. These results are in line with the Company's business plan for 2010 as it invests in the development of ZOOMER magazine and accompanying Zoomer-branded websites, to ensure that the Company maximizes its share of the growing media expenditures anticipated in 2010 and beyond aimed at the aging baby boomer cohort, the Zoomers.

For the comparable quarter ended December 31, 2008, the Company had revenues of $2.8 million and expenses of $3.9 million with a net loss after tax of $696,299. For the comparable six months ended December 31, 2008, the Company had revenues of $5.4 million and expenses of $7.5 million with a net loss after tax of $1.5 million.

Additional Information

Detailed financial information and Management's Discussion and Analysis for the six months ended December 31, 2009 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 financial statements for the six months ended December 31, 2009 and the audited financials statements for the year ended June 30, 2009, including the notes thereto.

About ZoomerMedia Limited

ZoomerMedia Limited (ZUM) publishes ZOOMER magazine, the largest paid circulation magazine in Canada for the mature market. Published nine times a year, ZOOMER magazine has a paid circulation of approximately 180,000 and places a further 30,000 copies on newsstands.

ZUM also derives royalty revenue through the provision of exclusive marketing and membership services to CARP, A New Vision of Aging for Canada.

ZUM is also Canada's leading provider of online content targeting the 45+ age group. The portfolio of web sites and electronic newsletters delivers over 2 million page per views per month. The key property is www.50plus.com, delivering a wide range of information, entertainment, community (forums, dating, blogs) and commerce together with four electronic newsletters (health, money, travel, lifestyle), each of which has over 120,000 opt-in subscribers.

ZUM also produces and manages www.carp.ca, the online home of CARP. With 350,000 members, CARP is Canada's largest association for the 45+. ZUM also produces CARP Action Online, an electronic newsletter for CARP members.

Cautionary note on forward looking statements

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 generally;
  • the risks inherent in the operation of Internet media properties generally;
  • the Company's dependency on a few large customers;
  • the competition within the media industry for the baby boom generation's business;
  • the risks associated with governmental regulation of the publishing and internet businesses;
  • the results of legal claims made by or against the Company;
  • the risk of managing the current revenue growth rate;
  • the dependence of the business on the continuing operation of its computer systems; and
  • the dependence 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.

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.

Contact Information

  • ZoomerMedia Limited
    George Kempff
    Vice President and Chief Financial Officer
    (416) 607-7735
    g.kempff@zoomermedia.ca