Pixman Nomadic Media Inc.
TSX VENTURE : PMN

Pixman Nomadic Media Inc.

February 27, 2009 16:58 ET

Pixman Announces its Second Quarter Financial Results

To Commercial and Financial News Editors

MONTREAL, QUEBEC--(Marketwire - Feb. 27, 2009) - Pixman Nomadic Media Inc. (TSX VENTURE:PMN) ("Pixman" or "the Company") announced its financial results for the second quarter of fiscal year 2009. The world's economic slowdown affected the results of the company, which incurred its first revenue decrease for the last five quarters. The revenues totaled $174,267 while its net loss amounted to $1,004,047.

"Our business plan and our international deployment went ahead," stated Mr. Philippe Gribeauval, President and Chief Executive Officer of Pixman. "As the current economic context does not impact all countries the same way, we are confident that the geographic diversification of our resellers' network will be an important asset to ease off the effects of this crisis."

Pixman's products are essentially marketing tactics' tools that large brands are in search of to enable them to engage a relation with the consumers in order to drive them to the point of sales or to the web. Despite the current economic crisis, large brands are always in search of innovative and effective solutions. To counteract the ongoing slowdown, Pixman's management is keen to accentuate its development and remains confident that markets will recover and will eventually offset the effects of the current incidental context.

"Given the success of our recent round of capitalization, we began the implementation of our strategic plan which is based on the Pixpal" project," he added. "This project, which mobilizes a good part of our resources, will allow us to reach a higher level of development."

Financial Highlights

- The Company registered total revenues of $174,267.

- The total income for the semester ended December 31, 2008 totaled $893,211, or a decline of 26% compared to the same 2008 fiscal period.

- The net loss totaled $1,004,047 or $ (0,01) per common share, compared with $877,301 or $ (0,03) per common share during the corresponding quarter of the previous fiscal year, or a 14% decrease compared to the corresponding same period of the previous fiscal year.

- The Company's activities were slowed down by the cancellation or deferral of campaigns, budgetary cuts and cancellation of conferences by its customers who are also affected by the economic and financial crisis. The value of the cancelled or deferred proposals was more than $1M. Also, the Company currently has for more than $1,3M of proposals from customers for media campaigns and is preparing Pixnet's commercial offer. This offer will be launched during the fourth quarter.

The financial statement and annual report of the Company are available on the SEDAR Web site at www.sedar.com.

Commercial Highlights

- At the beginning of the third quarter, Pixman coordinated a large world movement called Join the Wave, to welcome the new President of the United States, Barack Obama with the objective to test its new product TribalCast™. People from everywhere around the planet responded positively to this initiative. We received more than 500 videos from 32 countries. During the campaign, there were more than 125,000 persons filmed welcoming Obama. On JointheWave.com, more than 20,000 people from more than 100 countries were registered. And in terms of media visibility, 1.4 million Canadians were exposed to the campaign through radio or television.

- With the deployment of the Join the Wave world campaign, the Company launched its most recent interactive solution called TribalCast™. This new concept allows to establish and enrich dialogue between consumers and a worldwide brandmark, whether in the real or virtual world. This technological headway, a first step in Pixpal's development, is perfectly in line with the Web 2.0 approach and integrates the use of social media which leverages the Company's business opportunities. Discussions with important brands are already in progress.

- The Company has proceeded with the geographical diversification of its value-added reseller network ('VAR'). The Company is relying more and more on emerging countries, where the nomadic advertising and mobile marketing sectors are in full growth. Agreements have been concluded in Latin America, Ireland, the United-States and Australia (3rd quarter). To date, the Company has 32 VAR partners in America, Europe, Asia, Oceania and Africa. Also, the VAR prospect order book of the Company for the next quarters totals more than 36, which could carry the number to more than sixty VAR in operations

- An increasing number of well-established highly visible brands have adopted the Pixman solutions. Campaigns have notably been completed for the KPN Dutch Mobile Telephone Firm (third campaign), for the Unicum Hungarian spirits brand (second campaign), Vivendi Games and Heineken.

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 financial 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 Pixman Nomadic Media Inc's management. 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, including technological changes. The purpose of the prospective financial information or the financial perspectives that may be contained in this press release is to inform the reader of management's expectations and may not correspond to other purposes. 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, except where indicated by the relevant Securities Act.

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