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Message: Pixman Announces its Third Quarter Financial Results
| May 22, 2009 |
| CORRECTION/Pixman Announces its Third Quarter Financial Results |
| MONTREAL, QUEBEC--(Marketwire - May 22, 2009) - A correction is being issued with respect to the release sent out at 5:26PM EDT by Marketwire. The press release was issued with the wrong body text. The corrected version follows. Pixman Nomadic Media Inc. (TSX VENTURE:PMN) (the "Corporation") announced the financial results of its third quarter of fiscal year 2009. The revenue totaled $107,438 while the net loss amounted to $1,016,473. "We are moving promptly in the implementation of the development plan that we have adopted, further to the round of private financing completed last September," said Mr. Philippe Gribeauval, President and Chief Executive Officer of the Corporation. "We are maintaining our development strategy and are emphasizing a prospecting work approach with targeted brands that could take advantage of the tremendous potential offered by the integration of our three lines of products: Pixman, Pixnet and Pixpal." With the capacity to proceed with the integrated deployment of our three lines of products, we are currently discussing with important world brands to launch new campaigns and establish communities around these brands. The Corporation continues to make substantial headway in the development of its products and is focusing its efforts so as to be in an optimal position when the recovery takes place and when the demand for its products will resume with vigor, thus renewing again with a momentum interrupted by the economic slowdown. Financial Highlights - The total revenue for the three-month period ended March 31, 2009 reached $107,438, a decline by 67 % compared with the same period of fiscal year 2008. - The net loss totaled $1,016,473 or a loss of $0.01 per common share compared with $674,543 or $0.02 per common share during the corresponding quarter of the previous fiscal year or a deterioration of 51 % versus the same period of the previous fiscal year. - Despite declining revenues of approximately $526,000 and investments of approximately $355,000 in the development of new products ("Pixnet and Pixpal(R)"), the Corporation posted a cumulative loss almost equal to the same period of the preceding fiscal year. The Corporation's financial statements and management discussion and analysis are available on the SEDAR Web site at www.sedar.com. Commercial and Technological Highlights During the quarter, the Corporation focused its efforts on implementing its business plan, adopted further to the financing round completed last fall. Consequently, the Corporation reinforced its positioning and continued developing and integrating its product lines. Pixman Applications - The PixMonitor(TM), the Corporation's flagship product, will undergo major changes in the coming quarters. Now in its design finalization stage, the new generation of PixMonitor(TM) - the P2 - is lighter and more autonomous, more visible and more durable. It incorporates all the features, allowing it to offer to the brands high-performance promotional means in the form of increasingly sophisticated and interactive applications. With its design and technical capabilities, the P2 will represent a significant step in the Corporation's offerings; it will support all new Pixpal(R) applications. - The Corporation has continued with the geographical diversification of its value-added resellers (VAR) network. Agreements have been concluded in Australia, Croatia and Latin America (3rd quarter). Pixnet Applications - With the acquisition of Pixnet inc., completed at the beginning of the quarter, the Corporation established a new operating structure to support its growth strategy. - The Corporation also launched a first version (V1) of the Pixnet-LE digital display application in March. This model, derived from the Pixnet-Direct application, targets large company markets and enables the management and display of multimedia content from a server installed directly at the client's premises. The Corporation can thus reach commercial targets whose access from the outside is protected. The Corporation is currently discussing the deployment of this new product with large companies. Pixpal(R) - Following the world deployment of the Join the Wave campaign at the beginning of the quarter, the Corporation launched TribalCast(TM), its most integrated solution for the development of brand communities. This is the first stage in the development of its Pixpal(R) concept. TribalCast(TM) offers an original combination of consumer experience on the field, interactive application and content and community generation. This innovative solution, which brings together the three lines of products, Pixman, Pixnet and Pixpal, enables a dialogue between consumer and brand to be enriched on a global scale. TribalCast(TM) acts as a real world vector to bring the brand into the virtual world. - The Corporation is currently discussing with major brands regarding the deployment of additional TribalCast(TM) campaigns. 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.V". |
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