ManageSource Research Initiates Coverage of Destiny Media Technologies, Inc. (OTC BB: DSNY) With a Speculative Buy Rating and FY 2004 Price Target of
LOS ANGELES, CA, Apr. 07, 2004 (MARKET WIRE via COMTEX) --
ManageSource Research announced today that it has initiated coverage of Destiny Media Technologies, Inc. (OTC BB: DSNY) with a Speculative Buy rating and a FY 2004 target price of $1.15 - $1.25 based upon the Company's consistent sequential revenue growth and leading technology in a rapidly expanding market space. Metric ratio analysis has demonstrated that the Company has improved in almost all categories Y-Y, including internal liquidity, operating performance and marketability. Additionally, Destiny's revenues have expanded at a compound rate of 136.61% since FY 2000 to over $1.13MM in sales reported for FY 2003.
Destiny Media Technologies develops and markets secure audio and video streaming and digital distribution software products for the Internet, advertisers, corporations and retail applications. Their core products include Clipstream™, a Java-based playerless streaming video technology for advertising, websites and email; PirateRadio, a retail suite of Internet-enabled broadcast tools; and, MPE a leading-edge technology for securely transferring music, voice and video files that supports transactions and delivery with CD-quality or better. ManageSource feels that the increased regulation of file sharing and rapid adoption of pay-per-download media will lead to significant new partnerships and sales for the Company's core products and technical services.
ManageSource Research. Founded in 1998, ManageSource is a registered investment advisor that provides boutique independent equity research and valuation analysis for corporations and institutional investors.
Safe Harbor and Disclaimer: Managesource Research is an information source only, not a solicitation to buy or sell securities. Certain statements pertaining to earnings and growth are 'forward-looking' within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as defined in the Private Securities Litigation Reform Act of 1995. ManageSource intends that such statements be subject to safe harbors created thereby. Actual results may differ from those expressed or implied. Information has been compiled from sources deemed to be reliable, but accuracy is not guaranteed... Investing in securities is speculative and carries a high degree of risk. Investors should perform their own due diligence and fully understand all risks. Further information: http://www.managesource.com.
Destiny Media Technologies, Inc. (http://www.dsny.com) is a leader in developing easy-to-use tools for distributing digital media through the Internet. The company's suite of streaming and downloadable products include : Clipstream™, Destiny Media Player ™, Radio Destiny ™ and MPE ™. Established in 1991, the company is headquartered in Vancouver, Canada.
For more information contact:
CEO Destiny Media Technologies, Inc.
604-609-7736 ext. 222
For ManageSource Research
8251 Blackburn, Ste 4
Los Angeles, CA. 90048