Destiny Media Reports Q3 Results

Destiny Media Reports Q3 Results

Revenue up 43%; Income and EBITDA double; Global expansion continues

VANCOUVER, British Columbia, July 15 /PRNewswire-FirstCall/ -- Destiny Media Technologies (BULLETIN BOARD: DSNY) is pleased to announce results for the quarter and period ending May 31, 2010. EBITDA grew for the quarter to approximately $260,000 (129% higher than prior year) on total revenue of $952,000 (43% higher than prior year). Over the nine month period ending May 31, 2010, EBITDA grew to approximately $788,000 on revenue of $2,870,000 (70% higher than prior year).

Play MPE® revenue continues to grow in all geographic segments. The company continues to build on the foundation for a global distribution network with a number of significant developments. Revenue, which has grown by an average of 20% quarter over quarter (>100% growth on an annual basis) for the past four years, is expected to continue to grow as a result.

Three Three
Months Months Nine Months Nine Months
Ended Ended Ended Ended
May 31, May 31, May 31, May 31,
2010 2009 2010 2009
$ $ $ $
--- --- --- ---

Revenue 952,383 665,829 2,869,775 1,687,878
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Operating expenses
General and administrative 255,487 181,749 768,013 540,654
Sales and marketing 184,801 193,044 578,289 634,256
Research and development 283,757 206,559 879,668 652,823
Amortization 14,669 10,675 38,789 27,407
------------ ------ ------ ------ ------
738,714 592,027 2,264,759 1,855,140
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Income (loss) from
operations 213,669 73,802 605,016 (167,262)
Other income (expenses)
Other income 30,156 12,755 88,466 72,877
Interest income 641 1,858 2,706 2,964
Interest and other expense (537) (942) (2,410) (2,531)
Gain on settlement of debt - 15,008 - 15,008
-------------------------- --- ------ --- ------
Net income (loss) 243,929 102,481 693,778 (78,944)
----------------- ------- ------- ------- -------

Net income (loss) per
common share,
basic and diluted 0.00 0.00 0.01 (0.00)
----------------- ---- ---- ---- -----

About Destiny Media Technologies

Destiny Media (http://www.dsny.com/) is the developer of the Play MPE® system (http://www.plaympe.com/) which the recording industry uses to securely distribute new pre-release music through the internet to trusted recipients such as radio, media and VIPs. Real time usage statistics are available at http://www.plaympe.com/v4/company/plaympestats.php

Company Contact:
Fred Vandenberg
CFO
Destiny Media Technologies, Inc.
604 609 7736 x236
fredv@dsny.com

Safe Harbor Statement:

"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This release contains forward looking statements that are subject to risks and uncertainties, including, but not limited to, the impact of competitive products and pricing, product demand and market acceptance, new product development, reliance on key strategic alliances, availability of raw materials, the regulatory environment, fluctuations in operating results and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.

Source: Destiny Media Technologies

CONTACT: Fred Vandenberg, CFO of Destiny Media Technologies, Inc.,
+1-604-609-7736, ext. 236, fredv@dsny.com

Web Site: http://www.dsny.com/

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