Trading Update

 

TIDMBRST 
 
RNS Number : 3137G 
Burst Media Corporation 
29 January 2010 
 

 
 
 
 
                                                                 29 January 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 year 
ended 31 December 2009. 
 
 
Trading update 
 
 
The Board is pleased to report that the Company's second half performance 
improved considerably over the first half. The Board expects full year 
revenues will be approximately $31.3 million (2008: $27.3 million) and that 
adjusted EBITDA* will be at least in line with market expectations. The 
Company's second half media business revenue was considerably higher on a 
year-over-year basis, led by record sales in the fourth quarter. 
 
 
The Company has completed the integration of the operations of Giant Realm, the 
vertical ad network business focused on video game and entertainment 
enthusiasts, acquired on 5 October 2009. Giant Realm's financial performance for 
the period from acquisition to the 2009 year end was broadly in line with the 
guidance given in the Company's October 2009 statement announcing the 
acquisition with the business generating a small loss. 
 
 
Net cash balances at 31 December 2009 were $5.7 million (30 June 2009: $9.4 
million), reflecting, inter alia, the buyback of shares undertaken in September 
2009 and the payment of the consideration for Giant Realm. 
 
 
Jarvis Coffin, Chief Executive Officer of Burst, commented: 
 
 
"The Company's significantly improved second half performance is an indication 
of both an improving economic climate for advertising and, we believe, the 
strong acceptance of Burst's advertising sales propositions in the marketplace. 
As we have seen over the last year, Burst Network's targeted web site packages 
have steadily gained favour and acceptance with brand advertisers. At the same 
time, Burst Direct volume has grown and gained strength with support from new 
products such as cost-per-action. 
 
 
Opportunities remain for the Company to take advantage of its relative strength 
and to generate shareholder value by acquisitive growth. In this regard, the 
Company continues to actively look at investments, including potential 
acquisitions, which enhance our core businesses." 
 
 
The Company expects to announce its preliminary results for the year ended 31 
December 2009 on 7 April 2010. 
 
 
*earnings before interest, taxes, depreciation and amortization and excluding 
restructuring charges, strategic review expenses and equity-based compensation 
 
Enquiries 
 
 
+------------------------------------+------------------------------------+ 
| Burst Media Corporation            |                                    | 
+------------------------------------+------------------------------------+ 
| Jarvis Coffin, Chief Executive     | Tel: [phone]               | 
| Steve Hill, Chief Financial        |                                    | 
| Officer                            |                                    | 
+------------------------------------+------------------------------------+ 
|                                    |                                    | 
+------------------------------------+------------------------------------+ 
| Hudson Sandler                     |                                    | 
+------------------------------------+------------------------------------+ 
| Nick Lyon                          | [phone]               | 
+------------------------------------+------------------------------------+ 
|                                    |                                    | 
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| Altium                             |                                    | 
+------------------------------------+------------------------------------+ 
| Tim Richardson / Paul Chamberlain  | [phone]               | 
+------------------------------------+------------------------------------+ 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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