Intermap Announces $1.8 Million Mapping Services Solutions Contract

Posted by Rich Mohr

Aug 25, 2014 3:17:29 PM

DENVER, August 25, 2014 - Intermap (TSX: IMP), (ITMSF:BB), a leading provider of location-based solutions, today announced that the Company was awarded a US $1.8 million contract for an airborne radar mapping services solution.

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Topics: NEXTMap, Mapping Services

Intermap Reports 2014 Second Quarter Financial Results

Posted by Rich Mohr

Aug 13, 2014 9:01:00 AM

DENVER – August 11, 2014 (TSX: IMP) – Intermap Technologies Corporation (“Intermap” or the “Company”) today reported financial results for the second quarter ended June 30, 2014. A conference call will be held tomorrow, August 12th, at 10:00 a.m. Eastern Time to discuss the results.

All amounts in this news release are in United States dollars unless otherwise noted.

Intermap reported total revenue of $2.4 million for the second quarter of 2014, a 12% increase from the first quarter of the year. Second quarter revenue of $2.4 million is compared to $8.9 million in the same period of 2013. During the second quarter of last year, $7.6 million of mapping services revenue was recognized on a new $15.0 million contract that was announced earlier in the year. No similar sized contract was closed during the first six months of the current year, making up the majority of the variance between the current year and the prior year periods. Net loss for the second quarter of 2014 was $3.5 million, or ($0.04) per share, compared to a net profit of $170 thousand, or ($0.00) per share, for the second quarter of 2013. Second quarter adjusted EBITDA, a non IFRS financial measure, was a loss of $2.8 million, a decrease from an adjusted EBITDA profit of $2.2 million for the same period in 2013. Adjusted EBITDA excludes share-based compensation, gain or loss on the disposal of equipment, and gain or loss on foreign currency translation.

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Topics: Financial Results

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