Mood Media forecasts Q1 revenue worth 125-135m dollars

AIM-listed audio, visual and advertising solutions provider Mood Media has unveiled its preliminary first quarter results showing that revenue is expected to be in the range of 125m dollars to 135m dollars.

The company has predicted that adjusted EBITDA (earnings before interest, tax, depreciation and amortisation) would be expected to be in the range of $25m to $27m, before one-time costs.

The revenue and adjusted EBITDA guidance for the first quarter reflected seasonality pertaining to customer installations, Mood Media said, which typically produced lower quarterly performance than was produced during the remainder of the fiscal year. The company added that the results were subject to change pending the expected full release of first quarter results on May 9th 2013.

Lorne Abony, Chairman and Chief Executive Officer of Mood Media, said: "Mood Media remains a strong and competitive business and our team is laser-focused on executing our strategy to build best-in-class solutions that will allow us to achieve organic growth, reduce expenses and deliver shareholder value."

Abbey added: "We expect to realise approximately $7.0m in synergies in 2013 that were executed in 2012. While we may realise additional synergies by the end of 2013, we are taking a prudent and conservative approach to their implementation and the impact on our financial forecast."

Mood Media's share price was up 1.59% to 64p at 12:00 on Wednesday.

MF