Chalk Media Corp. (TSX VENTURE: CKM) today announced its unaudited
consolidated financial results for the three and six month periods
ended June 30, 2008.
Significant Events:
- Continued transition to higher margin software revenue, while
eliminating lower margin custom content revenues.
- Signed reseller agreement with UK-based Airpoint Limited.
- Signed new agreements with a large luxury hotel company and a
leading consumer electronics retailer.
- Won three awards for Mobile chalkboard(TM) at RIM's
BlackBerry� Enterprise Symposium, from CIO Magazine and two leading
industry blogs.
- Announced availability of business skills courses for the
BlackBerry in partnership with performance improvement company
MindLeaders.
- Appointed Divesh Sisodraker, currently CEO of TheJobMagnet
Interactive Inc. and formerly Executive Vice President and CFO of
Taleo Corporation and President and CEO of Pivotal Corporation, to
the Board of Directors and the Audit Committee to replace Jim
Speros.
Chalk continues to transition to its Mobile chalkboard(TM)
software and earned revenues of $474,765 for the three months ended
June 30, 2008, compared to $669,336 for the same period in 2007.
Chalk earned revenues of $182,924 for software and $274,985 for
services for the three months ended June 30, 2008 and $212,297 and
$419,817, respectively for the same period in 2007. The main reason
for the decrease was our move away from content production
including in-flight video production to focus on our software
products.
The net loss for the three months ended June 30, 2008 was
$2,929,547, or $0.02 per common share, compared to a net loss of
$2,559,301, or $0.04 per common share, for the same period in 2007.
The increase in the net loss was due to lower revenues and higher
research and development expenses.
Selected Financial Data (in $'000's, except per share numbers):
--------------------------------------------------------------------------
Three Months ended Six Months ended
June 30, June 30,
--------------------------------------------------------------------------
2008 2007 2008 2007
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Revenue $ 475 $ 669 $ 899 $1,360
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Gross margin $ (34) $ 1 $ (35) $ 137
--------------------------------------------------------------------------
Operating loss ($2,910) ($2,401) ($5,140) ($4,457)
--------------------------------------------------------------------------
Net income / (loss) ($2,930) ($2,559) ($5,130) ($4,738)
--------------------------------------------------------------------------
Earnings / (loss)
per share ($ 0.02) ( $0.04) ($ 0.03) ($ 0.07)
--------------------------------------------------------------------------
This press release should be read in conjunction with Chalk's
unaudited consolidated financial statements for the three and six
month period ended June 30, 2008, as well as its management's
discussion and analysis ("MD&A") dated August 29, 2008
available at www.sedar.com.
About Chalk Media Corp.
Chalk's mobile content deployment system, Mobile chalkboard(TM),
allows multimedia content to be created, securely pushed and
tracked on BlackBerry� smartphones. Our software and content help
organizations communicate with their employees, business partners
and customers. Additional information is available at
www.chalk.com.
The BlackBerry� and RIM families of related marks, images and
symbols are the exclusive properties and trademarks of RIM. RIM
assumes no liability and makes no representation, warranty or
guarantee in relation to third party products or services.
Forward Looking Statements
This press release contains "forward-looking statements" within
the meaning of applicable Canadian securities legislation.
Generally, forward-looking statements can be identified by the use
of forward- looking terminology such as "plans", "expects" or "does
not expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or state that
certain actions, events or results "may", "could", "would", "might"
or "will be taken", "occur" or "be achieved". Forward-looking
statements are subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of
activity, performance or achievements of Chalk to be materially
different from those expressed or implied by such forward-looking
statements, including but not limited to: risks related to the
speculative nature of the software industry, which is affected by
numerous factors beyond Chalk's control; the existence of present
and possible future government regulation; the significant and
increasing competition that exists in the software industry; and
risks associated with early stage companies such as Chalk,
including uncertainty of revenues, markets and profitability and
the need to raise additional funding as well as those factors
discussed under the heading "Risk Factors" in Chalk's annual
MD&A dated April 25, 2008.
Although Chalk has attempted to identify important factors that
could cause actual results to differ materially from those
contained in forward-looking statements, there may be other factors
that cause results not to be as anticipated, estimated or intended.
There can be no assurance that such statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
statements. Chalk does not undertake to update any forward-looking
statements that are contained herein, except in accordance with
applicable securities laws. Further information on Chalk Media
Corp. is available at www.sedar.com.
To view additional Chalk press releases, please visit:
www.chalk.com/About/NewsRelease.asp
The TSX Venture Exchange has not reviewed the contents of this
release and is not responsible for its accuracy.
Contacts: Chalk Media Corp. Kris Sutherland Executive Vice
President (604) 453-4424 Email: kris@chalk.com Website:
www.chalk.com
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