Pixman Nomadic Media Reports Q3 Results
Adrian J Cotterill, Editor-in-Chief
Pixman Nomadic Media reported yesterday its fiscal year Q3 Results. Interesting mention was made of its intention to now “cover in-store and out-of-store promotion, digital display and locations such as airports, transit stations, theme parks and shopping centers” – that will still be with its Pixman weareable media solution we guess but they can obviously see the interest and rise in experential campaigns and the like in these venues.
We had the privilege to interview Philippe Gribeauval, President and Chief Executive Officer Pixman Nomadic Media and Pixman Europe back at the end of April in our CEO Spotlight feature.
PIXMAN NOMADIC MEDIA RELEASES THIRD QUARTER FINANCIAL RESULTS. The Company confirms its position with value-added resellers and reports higher revenues.
Montreal, May 30, 2008 – Pixman Nomadic Media Inc. (TSXV: “PMN”) (the “Company”) announced today results for its third quarter of fiscal year 2008 confirming the Company’s position in a market with strong growth: its revenues increased by 13.2% compared to the same quarter last year and by 73.5% for the nine month period.
For the three months ended March 31 2008, the Company registered total revenue of $323,647 compared to total revenue of $285,900 for the corresponding period last year. This represents a growth of 13.2% continuing the very positive trends reported over the last three quarters. The total revenue for the nine months of 2008 amounted to $1,527,119, a 73.5% increase compared to the $880,111 revenue for the same period last year. The nomadic media segment, whose revenue went from $612,541 to $1,279,748 compared to the corresponding period of last year, accounted for 108.9% of this growth. These results support the direction the Company has taken in implementing a distribution program favoring value-added resellers (“VAR”). The implementation of this strategy required both time and resources and we can already see results which will contribute to further revenue growth during the coming quarters. The Company is now in a position where it can confirm the popularity and the effectiveness of its Pixman products with prestigious advertisers, as much in North America as in Europe; these advertisers, together with several major brands, have expressed their intention to use the Company’s services again in the near future.
“In an industry where innovation and creativity are the watchwords, this report is very encouraging, since almost 30% of our customers in North America have already repeatedly used our products – a tendency which is also felt in Europe,” explained Philippe Gribeauval, President and Chief Executive Officer of the Company.
The Company wishes to further target some high volume segments that are, to date, undeveloped. In addition to special events, its service offer will now cover in-store and out-of-store promotion, digital display and locations such as airports, transit stations, theme parks and shopping centers. A new generation of products, new pricing and a new service offer better suited to meet the various needs of market segments will be integrated into our development strategy, which will result in the rapid increase of its VAR. The availability and integration of the Pixnet (www.pixnet.com) mobile content communication and management platform within the nomadic offer will allow the Company to develop new and more powerful applications, meeting the needs of its customers who wish to come closer to their consumers.
“Our challenge is to continue to act as much on our technological developments as on our ability to be strategically present in front of the consumer, where he is and where he is going,” added Mr. Gribeauval.
Pixman Nomadic Media recorded a net loss of $674,543 or $0.02 per common share for the third quarter. This compares to a net loss of $679,045 or $0.02 per common share for the comparable period last year. For the nine month period of fiscal 2008, the Company reported a net loss of $2,209,924 or $0.07 per share versus $2,235,604 or $0.09 per share for the prior year.
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