Global Traffic Network, Inc. Reports Fiscal Fourth Quarter and
Year End 2009 Operating Results
 Recent United Kingdom Acquisition Continuing Strong Performance
 New York, NY, September 10, 2009 Global Traffic Network, Inc. (Nasdaq: GNET),




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Conference Call
 www.globaltrafficnetwork.com www.kcsa.com.
  About Global Traffic Network
 www.globaltrafficnetwork.com.




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This press release contains statements that constitute forward-looking statements. These
statements reflect our current views with respect to future events. These forward-looking
statements involve known and unknown risks, uncertainties and other factors, including those
discussed under the heading Risk Factors and elsewhere in our annual report 10-K, which may cause
our actual results, performance or achievements to be materially different from any future results,
performances or achievements anticipated or implied by these forward-looking statements. These
statements can be recognized by the use of words such as may, will, intend,  should,
could, can, would, expect, believe, estimate,  predict, potential, plan, is
designed to, target or the negative of these terms, and similar expressions. We do not
undertake to revise or update any forward-looking statements to reflect future events or
circumstances.
 Currency Exchange Rates for Income Statement Information
 Three Months Ending
    
    Three Months EndingJune 30, 2009
    
    June 30, 2008
    
    DifferenceAustralia
    
    
    0.7611
    
    
    
    0.9444
    
    
    
    (19.4
    %)Canada
    
    
    0.8567
    
    
    
    0.9902
    
    
    
    (13.5
    %)United Kingdom
    
    
    1.5522
    
    
    
    1.9718
    
    
    
    (21.3
    %)




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Three Months
    
    
    Twelve MonthsEnded
    
    
    EndedJune 30,
    
    
    June 30,
    
    
    June 30,
    
    
    June 30,2009
    
    
    2008
    
    
    2009
    
    
    2008(Unaudited)
    
    
    (Unaudited)
    
    
    (Unaudited)
    
    
    (Unaudited)(In thousands)
    
    
    (In thousands)
    
    
    (In thousands)
    
    
    (In thousands)Net operating (loss) income
    
    $
    (623
    )
    
    $
    1,643
    
    
    $
    1,238
    
    
    $
    3,783Add back:Depreciation and amortization expense
    
    $
    1,104
    
    
    $
    419
    
    
    $
    2,547
    
    
    $
    1,500Adjusted Operating Income
    
    $
    481
    
    
    $
    2,062
    
    
    $
    3,785
    
    
    $
    5,283




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Global Traffic Network, Inc.
Income Statement Detail
(Unaudited)
(In thousands)
Three Months Ended June 30,
 2009
    
    2009
    
    2009
    
    2009
    
    2009
    
    2009Australia
    
    Canada
    
    UK
    
    Mobile
    
    Corporate
    
    TotalRevenues
    
    $
    10,191
    
    
    $
    1,844
    
    
    $
    5,936
    
    
    $
    
    
    
    $
    
    
    
    $
    17,971Operating expensesTraffic
    
    
    4,081
    
    
    
    2,053
    
    
    
    5,116
    
    
    
    117
    
    
    
    
    
    
    
    11,367News
    
    
    1,805
    
    
    
    
    
    
    
    270
    
    
    
    
    
    
    
    
    
    
    
    2,075TV
    
    
    193
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    193Selling, G&A
    
    
    1,717
    
    
    
    477
    
    
    
    634
    
    
    
    91
    
    
    
    
    
    
    
    2,919Corporate overhead
    
    
    342
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    316
    
    
    
    658Non-cash compensation
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    278
    
    
    
    278Depreciation/amortization
    
    
    189
    
    
    
    211
    
    
    
    691
    
    
    
    13
    
    
    
    
    
    
    
    1,104Net operating income (loss)
    
    
    1,864
    
    
    
    (897
    )
    
    
    (775
    )
    
    
    (221
    )
    
    
    (594
    )
    
    
    (623
    )Interest expense
    
    
    7
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    7Other (income)
    
    
    (135
    )
    
    
    (1
    )
    
    
    
    
    
    
    
    
    
    
    (3
    )
    
    
    (139
    )Other expense
    
    
    
    
    
    
    6
    
    
    
    11
    
    
    
    19
    
    
    
    
    
    
    
    36Net income (loss) before taxes
    
    
    1,992
    
    
    
    (902
    )
    
    
    (786
    )
    
    
    (240
    )
    
    
    (591
    )
    
    
    (527
    )Income tax expense
    
    
    600
    
    
    
    
    
    
    
    (70
    )
    
    
    
    
    
    
    (10
    )
    
    
    520Net income (loss)
    
    $
    1,392
    
    
    $
    (902
    )
    
    $
    (716
    )
    
    $
    (240
    )
    
    $
    (581
    )
    
    $
    (1,047
    )
 2008
    
    2008
    
    2008
    
    2008
    
    2008
    
    2008Australia
    
    Canada
    
    UK
    
    Mobile*
    
    Corporate
    
    TotalRevenues
    
    $
    12,301
    
    
    $
    2,295
    
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    14,596Operating expensesTraffic
    
    
    3,959
    
    
    
    1,914
    
    
    
    479
    
    
    
    
    
    
    
    
    
    
    
    6,352News
    
    
    1,730
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    1,730TV
    
    
    234
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    234Selling, G&A
    
    
    2,498
    
    
    
    449
    
    
    
    116
    
    
    
    98
    
    
    
    
    
    
    
    3,161Corporate overhead
    
    
    320
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    446
    
    
    
    766Non-cash compensation
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    291
    
    
    
    291Depreciation/amortization
    
    
    223
    
    
    
    179
    
    
    
    15
    
    
    
    2
    
    
    
    
    
    
    
    419Net operating income (loss)
    
    
    3,337
    
    
    
    (247
    )
    
    
    (610
    )
    
    
    (100
    )
    
    
    (737
    )
    
    
    1,643Interest expense
    
    
    19
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    19Other (income)
    
    
    (212
    )
    
    
    (1
    )
    
    
    (1
    )
    
    
    
    
    
    
    (161
    )
    
    
    (375
    )Other expense
    
    
    
    
    
    
    1
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    1Net income (loss) before taxes
    
    
    3,530
    
    
    
    (247
    )
    
    
    (609
    )
    
    
    (100
    )
    
    
    (576
    )
    
    
    1,998Income tax expense
    
    
    1,062
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    1,062Net income (loss)
    
    $
    2,468
    
    
    $
    (247
    )
    
    $
    (609
    )
    
    $
    (100
    )
    
    $
    (576
    )
    
    $
    936




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##### 



Global Traffic Network, Inc.
Income Statement Detail
(Unaudited)
(In thousands)
Year Ended June 30,
 2009
    
    2009
    
    2009
    
    2009
    
    2009
    
    2009Australia
    
    Canada
    
    UK
    
    Mobile*
    
    Corporate
    
    TotalRevenues
    
    $
    42,707
    
    
    $
    6,920
    
    
    $
    10,710
    
    
    $
    
    
    
    $
    
    
    
    $
    60,337Operating expensesTraffic
    
    
    14,955
    
    
    
    7,232
    
    
    
    10,107
    
    
    
    654
    
    
    
    
    
    
    
    32,948News
    
    
    6,876
    
    
    
    
    
    
    
    360
    
    
    
    
    
    
    
    
    
    
    
    7,236TV
    
    
    753
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    753Selling, G&A
    
    
    7,387
    
    
    
    2,019
    
    
    
    1,170
    
    
    
    734
    
    
    
    
    
    
    
    11,310Corporate overhead
    
    
    1,340
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    1,811
    
    
    
    3,151Non-cash compensation
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    1,154
    
    
    
    1,154Depreciation/amortization
    
    
    737
    
    
    
    757
    
    
    
    1,015
    
    
    
    38
    
    
    
    
    
    
    
    2,547Net operating income (loss)
    
    
    10,659
    
    
    
    (3,088
    )
    
    
    (1,942
    )
    
    
    (1,426
    )
    
    
    (2,965
    )
    
    
    1,238Interest expense
    
    
    39
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    39Other (income)
    
    
    (701
    )
    
    
    (31
    )
    
    
    (21
    )
    
    
    
    
    
    
    (297
    )
    
    
    (1,050
    )Other expense
    
    
    41
    
    
    
    6
    
    
    
    11
    
    
    
    19
    
    
    
    
    
    
    
    77Net income (loss) before taxes
    
    
    11,280
    
    
    
    (3,063
    )
    
    
    (1,932
    )
    
    
    (1,445
    )
    
    
    (2,668
    )
    
    
    2,172Income tax expense
    
    
    3,386
    
    
    
    
    
    
    
    (130
    )
    
    
    
    
    
    
    1
    
    
    
    3,257Net income (loss)
    
    $
    7,894
    
    
    $
    (3,063
    )
    
    $
    (1,802
    )
    
    $
    (1,445
    )
    
    $
    (2,669
    )
    
    $
    (1,085
    )
 2008
    
    2008
    
    2008
    
    2008
    
    2008
    
    2008Australia
    
    Canada
    
    UK
    
    Mobile*
    
    Corporate
    
    TotalRevenues
    
    $
    44,296
    
    
    $
    6,657
    
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    50,953Operating expensesTraffic
    
    
    14,889
    
    
    
    6,814
    
    
    
    1,330
    
    
    
    
    
    
    
    
    
    
    
    23,033News
    
    
    6,611
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    6,611TV
    
    
    812
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    812Selling, G&A
    
    
    8,233
    
    
    
    2,257
    
    
    
    401
    
    
    
    157
    
    
    
    
    
    
    
    11,048Corporate overhead
    
    
    1,615
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    1,771
    
    
    
    3,386Non-cash compensation
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    780
    
    
    
    780Depreciation/amortization
    
    
    810
    
    
    
    668
    
    
    
    20
    
    
    
    2
    
    
    
    
    
    
    
    1,500Net operating income (loss)
    
    
    11,326
    
    
    
    (3,082
    )
    
    
    (1,751
    )
    
    
    (159
    )
    
    
    (2,551
    )
    
    
    3,783Interest expense
    
    
    90
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    90Other (income)
    
    
    (492
    )
    
    
    (20
    )
    
    
    (5
    )
    
    
    
    
    
    
    (1,100
    )
    
    
    (1,617
    )Other expense
    
    
    
    
    
    
    2
    
    
    
    11
    
    
    
    
    
    
    
    
    
    
    
    13Net income (loss) before taxes
    
    
    11,728
    
    
    
    (3,064
    )
    
    
    (1,757
    )
    
    
    (159
    )
    
    
    (1,451
    )
    
    
    5,297Income tax expense
    
    
    3,540
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    25
    
    
    
    3,565Net income (loss)
    
    $
    8,188
    
    
    $
    (3,064
    )
    
    $
    (1,757
    )
    
    $
    (159
    )
    
    $
    (1,476
    )
    
    $
    1,732
 
 *
    
    Mobile Traffic Network, Inc. was formed March 7, 2008. Certain information has been reclassed
from Global Traffic Network, Inc. for presentation in this format.




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GLOBAL TRAFFIC NETWORK, INC.
CONSOLIDATED STATEMENTS OF INCOME
(In thousands except share and per share amounts)
 Three Months Ended
    
    
    Year EndedJune 30
    
    
    June 302009
    
    
    2008
    
    
    2009
    
    
    2008(Unaudited)
    
    
    (Unaudited)
    
    
    (Unaudited)
    
    
    (Unaudited)Revenues
    
    $
    17,971
    
    
    $
    14,596
    
    
    $
    60,337
    
    
    $
    50,953Operating expenses (exclusive of
depreciation and amortization shown
separately below)
    
    
    13,635
    
    
    
    8,316
    
    
    
    40,937
    
    
    
    30,456Selling, general and administrative
expenses
    
    
    3,855
    
    
    
    4,218
    
    
    
    15,615
    
    
    
    15,214Depreciation and amortization expense
    
    
    1,104
    
    
    
    419
    
    
    
    2,547
    
    
    
    1,500Net operating (loss) income
    
    
    (623
    )
    
    
    1,643
    
    
    
    1,238
    
    
    
    3,783Interest expense
    
    
    7
    
    
    
    19
    
    
    
    39
    
    
    
    90Other (income) (including interest
income of $137 and $376 for the
three months ended June 30, 2009 and
2008 and interest income of $1,015
and $1,600 for the years ended June
30, 2009 and 2008)
    
    
    (139
    )
    
    
    (375
    )
    
    
    (1,050
    )
    
    
    (1,617
    )Other expense
    
    
    36
    
    
    
    1
    
    
    
    77
    
    
    
    13Net (loss) income before
income taxes
    
    
    (527
    )
    
    
    1,998
    
    
    
    2,172
    
    
    
    5,297Income tax expense
    
    
    520
    
    
    
    1,062
    
    
    
    3,257
    
    
    
    3,565Net (loss) income
    
    $
    (1,047
    )
    
    $
    936
    
    
    $
    (1,085
    )
    
    $
    1,732Income per common share:Basic
    
    $
    (0.06
    )
    
    $
    0.05
    
    
    $
    (0.06
    )
    
    $
    0.10Diluted
    
    $
    (0.06
    )
    
    $
    0.05
    
    
    $
    (0.06
    )
    
    $
    0.10Weighted average common shares
outstanding:Basic
    
    
    18,091,502
    
    
    
    18,149,100
    
    
    
    18,065,671
    
    
    
    17,648,410Diluted
    
    
    18,091,502
    
    
    
    18,508,316
    
    
    
    18,065,671
    
    
    
    17,831,855




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##### 



GLOBAL TRAFFIC NETWORK, INC.
CONSOLIDATED BALANCE SHEETS
(In thousands)
 June 30,
    
    
    June 30,2009
    
    
    2008(Unaudited)
    
    
    (Unaudited)ASSETS:Current Assets:Cash and cash equivalents
    
    $
    21,419
    
    
    $
    37,541Accounts receivable net of allowance for doubtful
accounts of $150 and $292 at June 30, 2009 and
June 30, 2008
    
    
    15,986
    
    
    
    13,355Prepaids and other current assets
    
    
    1,421
    
    
    
    961Deferred tax assets
    
    
    208
    
    
    
    262Total current assets
    
    
    39,034
    
    
    
    52,119Property and equipment, net
    
    
    7,569
    
    
    
    8,964Intangibles
    
    
    17,200
    
    
    
    418Goodwill
    
    
    4,688
    
    
    
    Deferred tax assets
    
    
    115
    
    
    
    141Other assets
    
    
    564
    
    
    
    960Total assets
    
    $
    69,170
    
    
    $
    62,602LIABILITIES AND SHAREHOLDERS EQUITY:Current Liabilities:Accounts payable and accrued expenses
    
    
    14,649
    
    
    $
    8,067Deferred revenue
    
    
    1,198
    
    
    
    1,293Income taxes payable
    
    
    1,908
    
    
    
    3,186Current portion of long term debt
    
    
    326
    
    
    
    459Total current liabilities
    
    
    18,081
    
    
    
    13,005Long term debt, less current portion
    
    
    57
    
    
    
    482Deferred tax liabilities
    
    
    3,410
    
    
    
    Other liabilities
    
    
    318
    
    
    
    389Total liabilities
    
    
    21,866
    
    
    
    13,876Common stock, $.001 par value; 100,000,000 shares
authorized; 18,264,834 shares issued and
outstanding as of June 30, 2009 and 18,156,133
shares issued and outstanding as of June 30, 2008
    
    
    18
    
    
    
    18Preferred stock, $.001 par value; 10,000,000
authorized; 0 issued and outstanding as of June
30, 2009 and June 30, 200
    
    
    
    
    
    
    Additional paid in capital
    
    
    50,146
    
    
    
    49,015Accumulated other comprehensive (loss) income
    
    
    1,398
    
    
    
    2,866Accumulated deficit
    
    
    (4,258
    )
    
    
    (3,173
    )Total shareholders equity
    
    
    47,304
    
    
    
    48,726Total liabilities and shareholders equity
    
    $
    69,170
    
    
    $
    62,602
  At KCSA Strategic Communications   tfromer@kcsa.com




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##### 



mcsaby@kcsa.com   At Global Traffic Network, Inc.     scott.cody@globaltrafficnet.com