Devine Entertainment Releases Q3 2007 Financial Report.Quarter Continues Year's Trend of Strong Growth with 20-Fold Increase in Revenues and $.04 per Share Gain in EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become * Revenues for First Nine Months of 2007 Increase $5.6 Million to $5.9 Million * Earnings for Quarter Turn Positive with $629,426 Increase, or $.01 per share * Company Delivers First Season of Primetime Series TORONTO -- Devine Entertainment Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :DVNNF), seeking to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the burgeoning global demand for high quality film and television content, has released its Q3 2007 financial report, continuing the revenue and earnings growth of the years' preceding quarters, with revenue increases of 2,310% and earnings rising by $629,000 (all amounts in Canadian dollars Noun 1. Canadian dollar - the basic unit of money in Canada; "the Canadian dollar has the image of loon on one side of the coin" loonie dollar - the basic monetary unit in many countries; equal to 100 cents ) to $.01 per share. Revenues in the quarter ended September 30, 2007, increased by $1,947,898 to $2,032,153, compared to $84,255 for the same period in 2006. The $629,426 increase in earnings brought the quarter's total to $398,028 or $0.01 per share, as compared to a loss of $231,398 for the same period in 2006. Consistent with the Company's strategic business vision, revenues for the nine months ended September 30, 2007, increased by more than $5,633,107 to $5,996,636, reflecting an increase of approximately 1,550% as compared to $363,529 for the same period in 2006. Devine successfully executed a number of business initiatives during the third quarter that have contributed to an increasingly high-growth 2007. These include the delivery of the first season of the Company's primetime television project, "Across the River to Motor City It may contain non-definitive information based on commercials, a website or interviews. ," one of the season's most anticipated new series for the Canadian television Canadian television may refer to:
With the production and delivery of the first season of "Across the River to Motor City," set to premiere this month across Canada Across Canada was an afternoon program that formerly aired on The Weather Network. The segment ran from early 1999 until mid 2002. The show ran from 3:00PM ET until 7:00 PM ET. , Devine has also advanced its strategy to build on the foundation of its success in the children's/family demographic through the creation and distribution of programming for the primetime television and mainstream adult age demographic. "The results of the third quarter have further strengthened the value of our production and distribution partnerships," said David Devine, President and Chief Executive Officer. "We expect 2007 will be one of the Company's best-ever years and are excited about the prospects for growth in the years ahead as we maintain our focus on building shareholder value." Devine recognized $5,612,427 in revenues on the delivery of the first season of "Across the River to Motor City," along with increased sales from the new international distribution agreement with Carrere Group for sales of the Company's proprietary film library. The Company continues to seek to expand revenues internationally through its film library, which contains several award-winning franchises targeting the lucrative children's and family entertainment markets. About Devine Entertainment Devine Entertainment Corporation develops, creates, and produces award-winning television programming and feature films for worldwide distribution across multiple TV broadcast networks, cable and satellite networks, DVD DVD: see digital versatile disc. DVD in full digital video disc or digital versatile disc Type of optical disc. The DVD represents the second generation of compact-disc (CD) technology. and Internet markets. Specializing in cultural and educational programming as well as prime-time drama and comedy entertainment programming, the Company's titles have garnered more than 120 international film and television industry awards, including five Emmy and five Gemini Awards The Gemini Awards are an annual awards ceremony in Canada. First awarded in 1986, the Geminis celebrate the achievements of TV members of the Academy of Canadian Cinema and Television. Essentially, it presents awards for the best television productions in Canada. . The Company partners with leading international distributors, broadcasters and co-producers, such as Sony BMG Sony BMG Music Entertainment, Inc. is the result of a 50/50 joint venture between Sony Music Entertainment (part of Sony) and BMG Entertainment (part of Bertelsmann) completed on August 5, 2004. , Rogers Media Rogers Media Inc is a subsidiary of Rogers Communications Inc., which owns Canada's largest publishing company, Rogers Publishing Limited, which has more than 70 consumer and business publications. Rogers Media Inc. and The Carrere Group of France, to produce and distribute its award-winning film and television titles. Among Devine's critically acclaimed productions are its cultural and educational film series on history's landmark Composers, Inventors and Artists, which have been broadcast in more than 50 countries. The Company continues to expand its proprietary library of high-quality film and television content. Among its general-audience primetime programming is the acclaimed one-hour mystery series, "Across the River to Motor City," delivered to broadcasters worldwide in 2007. Headquartered in Toronto, the Company's common shares trade on the NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). OTCBB market in the U.S. under the symbol DVNNF, and on the Frankfurt Stock Exchange Frankfurt Stock Exchange The largest of Germany's eight securities exchanges, operated by Deutsche Borse AS. under the ticker 3TD. The Company's corporate website is www.devine-ent.com. Investor-specific information and resources: http://www.trilogy-capital.com/tcp/devine. View current stock quotes and news: http://www.trilogy-capital.com/tcp/devine/quote.html. Investor Fact Sheet: http://www.trilogy-capital.com/tcp/devine/factsheet.html. Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. This press release may contain forward-looking statements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the future performance of Devine Entertainment Corporation. Forward-looking statements, specifically those concerning future performance and the achievement of operating profitability are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties include the market acceptance of the Company's products and services; competition within the film and entertainment industry and the introduction of new entrants and/or products in the Company's markets; adverse changes in governmental regulations and policies affecting the film and entertainment industry; product development risks and risks of technological change; the risk of unanticipated expenses; and other risks and uncertainties all as described in the disclosure documents filed with securities regulatory authorities Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest regulatory agency administrative body, administrative unit - a unit with administrative responsibilities in accordance with applicable securities laws. Readers are cautioned that the foregoing list of factors is not exhaustive. Although the Company believes that the expectations conveyed by the forward-looking statements are reasonable based on information available to it on the date such forward-looking statements are made, no assurances can be given as to future results, levels of activity and achievements. All subsequent forward-looking statements, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. The Company assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change. |
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