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btv on tsx… wow… its a silent about to go…
BlueRush Increases Revenue by 41% and Profitability by 78% during the Third Quarter
Over 9 month period, company achieved $1.9 million in revenue and $304K
in Net Income
SYMBOL: BTV
TORONTO, June 18 /CNW/ - BlueRush Media Group Corp. (TSX-V: BTV), is pleased to report the filing of the company’s consolidated financial results for its third quarter ended April 30, 2008. Through its wholly owned subsidiary, BlueRush Digital Media Corp. ("BlueRush"), the company provides leading edge digital marketing solutions and rich media production for distribution across a variety of emerging medias.
Highlights for the third quarter include:
- $873,851 in revenue was realized during the quarter. This marks a 41%
increase over the previously announced second quarter - $618,024 - and
a 516% increase over the same period last year - $141,828.
- BlueRush reports Net Income of $147,864 during the 3rd quarter - a 78%
increase over the previous quarter.
- BlueRush remains in a favorable cash position with over $428K in cash;
the company has no external debt; BlueRush has over $1 Million in
Working Capital as at April 30, 2008.
- At the beginning of the quarter, BlueRush signed a 2 year, $5 million
Memorandum of Understanding with a large Canadian Financial
Institution. Results from the agreement positively impacted the
financial results during this quarter. Details of the memorandum can
be found in the press release dated February 7, 2008.
- BlueRush continues to work with some of Canada’s largest institutions:
Manulife, Scotiabank, Canada Post and CI Investments.
Larry Lubin, BlueRush President and CEO stated. “The hard work and dedication of our employees, along with the company’s unique position in the marketing landscape continues to pay dividends for the company and its shareholders. We have had the privilege of working with some of Canada’s largest brands and subsequently get to design marketing solutions for some very compelling product offerings - this makes our job that much easier. Despite our positive financial results, we continue to improve our marketing solutions with each and every project we do. We have also recently begun developing more robust, rich-media applications which we hope will result in a new source of revenue. We shall announce details if and when we realize a favorable product to bring to market.”
Interested investors are encouraged to view the complete consolidated financial statements a swell as all other filings which are available at http://www.sedar.com. Additionally, more information on the company is available at http://www.bluerush.ca.
About BlueRush Media Group
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