ORLANDO, Fla., July 27, 2009 (GLOBE NEWSWIRE) -- Emerging Media Holdings (OTCBB:EMDH) today announced financial guidance for fiscal year 2009 for the period ended December 31, 2009.
Emerging Media Holdings expects 2009 full-year revenue to be between $20 million and $25 million, with EBITDA, a non-GAAP measure, to be between $5 million and $6 million.
The increase in revenue and EBITDA is expected to be primarily driven from the acquisition of Genesis International SA, a leading Eastern European infrastructure company. The Media subsidiaries from the Republic of Moldova are also expected to increase EBITDA by approximately 25%. For the 2009 first quarter ended March 31, 2009, Emerging Media had revenue of approximately $588,000 and EBITDA of $118,351. The Company completed the acquisition of a 60% interest in Genesis International SA in July and expects to consolidate Genesis International's results beginning with the 2009 third quarter.
"As our business outlook suggests, we believe the acquisition of Genesis International will dramatically enhance the Company's revenue and profitability," said Iurie Bordian, CEO of Emerging Media Holdings. "With a strong backlog of work, and many emerging opportunities to participate in the growth of Eastern Europe, we are well positioned for growth in 2009 and in the years to come."
Emerging Media Holdings expects to report results for its second quarter ended June 30, 2009 in mid-August.
About Emerging Media Holdings:
Emerging Media Holdings Inc. is the U.S. parent company for Media Alianta and Analiticmedia-Grup (AMG) subsidiaries, one of Eastern Europe's top television advertising and production companies.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements (within the meaning of Section 27a of the Securities Act of 1933 and Section 21e of the Securities Exchange Act of 1934) regarding us and our business, financial condition, results of operations and prospects. Forward-looking statements in this report reflect the good faith judgment of our management and the statements are based on facts and factors as we currently know them. Forward-looking statements are subject to risks and uncertainties and actual results and outcomes may differ materially from the results and outcomes discussed in the forward-looking statements. Readers are urged not to place undue reliance on these forward-looking statements which speak only as of the date of this press release. We undertake no obligation to revise or update any forward- looking statements in order to reflect any event or circumstance that may arise after the date of the press release. Political and operational risks in the countries in which Emerging Media Holdings, Inc. may operate and governmental regulation and judicial outcomes, and other risks detailed from time to time in Emerging Media's filings with the Securities and Exchange Commission, including its Quarterly Report on Form 10-Q for the quarter ended March 31, 2009. Copies of each filing may be obtained from Emerging Media Holdings or the S.E.C. or its web site at www.sec.gov.