news release -- made some profit already
BURLINGTON, ON, July 13 /CNW/ - Light Management Group Inc. (NASD
OTC:BB LMGR) today reported a consolidated net profit of $50,587 on
consolidated revenue of $904,122 for the quarter ended June 30, 1999.
The net earning per share for this quarter totaled $0.0037. EBITDA
(earnings before interest, taxes, depreciation and amortization) for
this quarter was $167,894, or $0.012 per share.
Laser Show Systems (Canada) Ltd. generated $730,085, or 80% of
total revenue and has accumulated a backlog of orders for its outdoor
projection equipment of $22 million. A recently announced financing
program will allow this division to accelerate the expansion of
manufacturing and production facilities to accommodate the demand for
product.
The recent acquisition of Exclusive Advertising Inc. which
maintains the media displays on the Go Transit system generated
$174,037 for the period. Since the acquisition of Exclusive, June 7,
1999 the company has invested $250,000 to deploy digital LED display
units in 300 passenger railcars. The installation of these units was
completed July 8th, 1999.
" We are excited to see the company move forward financially. This
quarter represents an historic time for the company; a first for
profit. We have been focussed on R&D for several years and now we are
evolving towards an operating manufacturer,'' said Barrington L. Simon
Chairman and CEO.
Light Management Group Inc. operating division Laser Show Systems
developed and now commercially delivers acousto optical digital
projection devices. The equipment laser projects full motion color
digital PC output 200 meters to outdoor billboards. This acousto
optical technique has earned merited recognition worldwide. The
projection device demonstrates visually the optical-acoustic digital
projection technique to be applied in not only the outdoor industry
but indeed most applications of laser operation within
telecommunications, bio-medical, aerospace, manufacturing and
entertainment venues.
Exclusive Advertising Inc. (Toronto) at the core of its business
maintains 3,000 media poster faces and 1,800 digital display units
serving 4.9 million consumers in the 8,000 square kilometer service
area served by GO Transit. GO Transit carries 28
million passengers on their trains per year.
Exclusive recently completed the installation of two digital display
boards in each of the GO Transit fleet of 300 rail cars. This unique
and dynamic electronic display media complements the existing poster
media which together offer the advertisers the opportunity to capture
audience attention, understand product features and respond in this
highly captive environment.
Online competition abounds to attract users to specific internet
portals. The cross media impact of traditional outdoor media and
internet content provides a new competitive venue for internet
marketers.
Light recognizes that this media will be a significant internet
portal of the new millennium: the portal of the masses for internet
content. Existing competition within the virtual community has focused
on the 25% of the population with WEB access. Visible and dynamic,
this new media outlet challenges internet portal companies like Yahoo
(YHOO), Excite (XCIT), and Lycos (LCOS) to now compete for the 75% of
the population that are not yet internet connected.
Light Management Group Inc. (LMGR) Note: This release may
contain forward-looking statements that involve risks and
uncertainties. These statements may differ materially from actual
future events or results. Readers are referred to the documents
filed by LMGR with the SEC, specifically the most recent reports
which identify important risk factors that could cause actual
results to differ from those contained in the forward-looking
statements, including potential fluctuations in financial results,
dependence on new product development, rapid technological and
market change, failure to complete the manufacture of network
equipment on schedule and on budget, financial risk management and
future growth subject to risks, LMGR's ability to achieve Year 2000
compliance, and adverse changes in the regulatory or legislative
environment. LMGR undertakes no obligation to review or confirm
analysts' expectations or estimates or to release publicly any
revisions to any forward-looking statements to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
For further information: Visit the following
Web Sites:
www.lmgr.net
www.lightmanagment.net
www.lasershow.com
Contact:
Light Management Group Inc.,
3060 Mainway Suite 301,
Burlington, Ontario,
Canada L7M 1A3,
Bus: 1-800-465-9216,
Fax: 1-905-319-2627,
Info@lightmanagement.net
Attention:
Glen Watson,
Investor Relations: 1-877-207-5647,
Email: GlenWatson@LMGR.NET |
