Intermap Technologies Reports 2013 Third Quarter Financial Results



INTERMAP TECHNOLOGIES CORPORATION
Condensed Consolidated Interim Statements of Profit or Loss and Other Comprehensive Income
(In thousands of United States dollars, except per share information)

        For the three months     For the nine months
        ended September 30,   ended September 30,
      2013   2012   2013   2012
                           
Revenue:                      
  Contract services  $ 5,429    $ 4,100    $ 17,202    $ 9,010
  Data licenses   926     3,865     3,123     11,169
        6,355     7,965     20,325     20,179
Expenses:                      
  Operating costs   5,178     5,573     17,361     18,439
  Depreciation of property and equipment   356     404     1,080     1,471
  Amortization of data library   1,152     1,152     3,457     3,457
  Amortization of intangible assets   30     30     89     138
        6,716     7,159     21,987     23,505
                           
Operating (loss) income   (361)     806     (1,662)     (3,326)
                           
Gain on disposal of equipment   138     -     342     26
Financing costs, net   (37)     (220)     (487)     (313)
Loss on foreign currency translation   (198)     (149)     (434)     (200)
(Loss) income before income taxes   (458)     437     (2,241)     (3,813)
                           
Income tax (expense) recovery:                      
  Current   (11)     (14)     (58)     (50)
  Deferred   -     -     -     8
        (11)     (14)     (58)     (42)
                           
Net (loss) income for the period  $ (469)    $ 423    $ (2,299)    $ (3,855)
                           
Other comprehensive income (loss):                      
  Foreign currency translation differences   35     21     1     (16)
                           
Total comprehensive (loss) income for the period  $ (434)    $ 444    $ (2,298)    $ (3,871)
                           
Basic and diluted (loss) income per share  $ (0.01)    $ 0.01    $ (0.03)    $ (0.05)
                           
Weighted average number of Class A                       
  common shares - basic and diluted    88,426,588     78,887,915     82,191,436     78,637,986

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