Trading Update
2010年7月26日 - 3:00PM
RNSを含む英国規制内ニュース (英語)
TIDMBRST
RNS Number : 8808P
Burst Media Corporation
26 July 2010
26 July 2010
Burst Media Corporation
Trading Update
Burst Media Corporation ("Burst" or "the Company"), the international online
advertising services company, today announces an update on trading for the six
months ended 30 June 2010 (the "Period"). The Period includes Giant Realm,
acquired in October 2009, for the full six months and Burst Media UK (formerly
OTP Media) since acquisition in April 2010.
Total revenue for the Period is estimated to be approximately US$17.3m, up
approximately 43% compared to the same Period last year (2009: US$12.1m) and in
line with expectations.
Revenue from the Company's media businesses, Burst Network, Burst Direct, Giant
Realm, and Burst Media UK for the Period is expected to be US$16.1m (2009:
US$10.8m). However, within this aggregate, strong performances from Burst
Network and Burst Direct offset that of Giant Realm, which was below
management's expectations.
Following its acquisition and as previously highlighted, the Board sought to
invest in and upgrade the Giant Realm sales team. Whilst the Board is
comfortable that appropriate action has been taken in this regard, it has become
apparent that the new sales team at Giant Realm is taking longer than
anticipated to generate expected revenue levels.
Whilst the Board expects sales at Giant Realm to improve over the second half of
the year, as customer relationships deepen and a strong pipeline is converted,
its underperformance over the Period is likely to result in the Company's
overall profitability for the full year being materially below market
expectations.
As of 30 June 2010, the Company had US$2.1m in cash on its balance sheet (2009:
US$9.4m). During the Period the Company used US$2.3m of its cash resources to
acquire On The Phone Media Ltd., a UK advertising network, now Burst Media UK.
Trading since acquisition has been broadly in-line with expectations at the time
of acquisition. During the Period, cash was also used to fund significant growth
in the Company's receivable balances over the prior year due to the increase in
revenues.
In addition, the Company has capitalised US$0.7m in software development costs
since 30 June 2009.
The Company is scheduled to announce its results for the six months ended 30
June 2010 on 22 September 2010.
Commenting, David Hanger, Chairman of the Board of Directors, said, "Burst has
achieved strong growth in the top line over the Period, driven substantially by
its core Network and Direct businesses. Whilst initial performance at Giant
Realm has been disappointing, the investments made will, the Board believes,
ensure its profitable future. The Company is in strong fiscal shape and as the
results in our core businesses indicate, we believe we are well-positioned
within the online display advertising sector."
Enquiries:
+----------------------------------------+----------------------+
| Burst Media Corporation | +1 781-852-5271 |
| Jarvis Coffin, Chief Executive Officer | |
| Steven Hill, Chief Financial Officer | |
| | |
+----------------------------------------+----------------------+
| Hudson Sandler | +44 (0) 20 7796 4133 |
| Nick Lyon / Charlie Jack | |
| | |
+----------------------------------------+----------------------+
| Altium | +44 (0) 20 7484 4040 |
| Tim Richardson / Paul Chamberlain | |
| | |
| | |
+----------------------------------------+----------------------+
Note concerning forward looking statements
This press release contains "forward-looking" statements that involve risks,
uncertainties and assumptions. If the risks or uncertainties ever materialize or
the assumptions prove incorrect, our results may differ materially from those
expressed or implied by such forward-looking statements. All statements other
than statements of historical fact could be deemed forward-looking, including,
but not limited to, any projections of financial information; any statements
about historical results that may suggest trends for our business; any
statements of the plans, strategies, and objectives of management for future
operations; any statements of expectation or belief regarding future events,
technology developments, or enforceability of our intellectual property rights;
and any statements of assumptions underlying any of the foregoing.
These statements are based on estimates and information available to us at the
time of this presentation and are not guarantees of future performance. Actual
results could differ materially from our current expectations as a result of
many factors, including but not limited to: the unpredictable nature our rapidly
evolving market and fluctuations in our business; the effects of competition;
and any adverse changes in our customers' business. These and other risks and
uncertainties associated with our business are described in our filings on AIM.
We assume no obligation and do not intend to update these forward-looking
statements.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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