DENVER – March 30, 2015 (TSX: IMP) – Intermap Technologies Corporation (“Intermap” or the “Company”) today reported financial results for the fourth quarter and year ended December 31, 2014. A conference call will be held today, March 30th, at 5:30 p.m. Eastern Time to discuss the results.
All amounts in this news release are in United States dollars unless otherwise noted.
In 2014, Intermap’s focus was on the continued development of its Orion Platform®, coupled with operational preparation to support anticipated Spatial Data Infrastructure (“SDI”) contract(s). The Company’s Orion Platform and its SDI capabilities were designed to derive answers for customers and provide recurring revenue streams for the Company.
“The year 2014 was a year of investment in Intermap’s future. We continued to make major advancements in our platform software capabilities, our NEXTMap database, and in our professional services competencies,” said Todd Oseth, President & CEO of Intermap. “This investment positions the Company well for the coming year to deliver on the Orion Platform promise we made to our customers. We are currently pursuing large SDI projects which have initial delivery periods of at least two years, and are designed to generate recurring revenue streams for years to follow. We believe the Company’s internal investment during 2014 was necessary to position the Company for success in these areas.”