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UOMO Media Announces Record First Quarter Results
TORONTO--(Marketwire - September 16, 2008) - UOMO Media Inc. (OTCBB: UOMO), a multi-channel entertainment company, today announced its results for the first quarter of fiscal 2009, representing 13 weeks of operations ending July 31, 2008.
Revenue for the three months ended July 31, 2008 was $315,225, setting a record for the highest first quarter sales in the Company's history.
Ms. Jueane Thiessen, CFO of UOMO Media, commented, "Our revenue in this period is unprecedented for the company, and we expect that we will continue to increase our revenues as we continue to roll out operations in our new line of operations, providing music publishing, digital media, production, and talent management services."
The first quarter results represented strong overall performance, including an increase in total assets from $79,547 to $553,969 in the year-ago period and a 230 percent growth in net increase in cash flows generated from operations since last year.
The company notes that the numbers contained in this release are unaudited, and are made in good faith and based on all the financial information available to the company today.
UOMO Media also wishes to caution readers that any forward-looking statements are just beliefs or predictions, and that actual results might differ materially from those projected in any or all of the forward-looking statements. Further, past financial business, operations and stock performance are not necessarily indicative of the company's future performance.
Forward-Looking Statements:
The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties, including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development and acquisition of new product lines and services, government approval processes, the impact of competitive products or pricing from technological changes, the effect of economic conditions and other uncertainties, and the risk factors set forth from time to time in the Company's SEC reports, including but not limited to its annual report on Form 10-K; its quarterly reports on Forms 10-Q; and any reports on Form 8-K. UOMO Media Inc. takes no obligation to update or correct forward-looking statements.
About UOMO Media Inc.
UOMO Media Inc. is a multi-channel entertainment company that acquires, produces, and manages intellectual media content and digital assets. UOMO integrates existing and well-established revenue streams in recorded music, publishing, and talent management through its four operating divisions: UOMO Digital, UOMO Recorded Music, UOMO Talent Management, and UOMO Publishing. PricewaterhouseCoopers estimates that by 2011, the global media and entertainment industry will be worth US$ 2 trillion. www.uomomedia.com.
Contact:
UOMO Media Inc.
Investor Relations
Javed Mawji
646-808-0685
Email Contact
www.uomomedia.com
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