Intermap Technologies Reports 2013 Second Quarter Financial Results

As of June 30, 2013, there were 87,139,499 common shares outstanding.

Important factors, including those discussed in the Company's regulatory filings ( could cause actual results to differ from the company's expectations and those differences may be material. Detailed financial results and management's discussion and analysis can be found on SEDAR at:

Conference Call

Intermap will host a conference call today, August 12, 2013, at 4:30 pm ET (2:30pm MT). To participate in the call, please dial +1-416-764-8609 or 1-888-390-0605 approximately 10 minutes prior to the conference call and provide conference ID 65329895. A recording of the conference call will be available through August 30, 2013. Please dial +1-416-764-8677 or 1-888-390-0541 and provide pass code 329895 to listen to the rebroadcast. The call will also be available on Intermap's website at for replay.

About Intermap Technologies

Headquartered in Denver, Colorado - Intermap ( is an industry leader in geospatial solutions on demand with its secure, cloud based Orion Platform™. Through its powerful suite of 3DBI applications and proprietary development of contiguous databases that fuse volumes of geospatial data into a single source, the Orion Platform is able to provide location- based solutions for customers in diverse markets around the world. For more information please visit

Adjusted EBITDA is not a recognized performance measure under GAAP and does not have a standardized meaning prescribed by IFRS. The term EBITDA consists of net income (loss) and excludes interest, taxes, depreciation, and amortization. Adjusted EBITDA is included as a supplemental disclosure because management believes that such measurement provides a better assessment of the Company's operations on a continuing basis by eliminating certain non-cash charges and charges that are nonrecurring. The most directly comparable measure to adjusted EBITDA calculated in accordance with IFRS is net income (loss).

Intermap Reader Advisory

Certain information provided in this news release constitutes forward-looking statements. The words "anticipate", "expect", "project", "estimate", "forecast" and similar expressions are intended to identify such forward-looking statements. Although Intermap believes that these statements are based on information and assumptions which are current, reasonable and complete, these statements are necessarily subject to a variety of known and unknown risks and uncertainties. You can find a discussion of such risks and uncertainties in our Annual Information Form and other securities filings. While the Company makes these forward-looking statements in good faith, should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary significantly from those expected. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that the Company will derive therefrom. All subsequent forward-looking statements, whether written or oral, attributable to Intermap or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. The forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements made herein, whether as a result of new information, future events or otherwise, except as may be required by applicable securities law.

Reference is made to the Company's audited Consolidated Financial Statements for the years ended December 31, 2012, together with the accompanying notes, which includes a going concern disclosure and such disclosure remains applicable as of the date of the financial statements included herein.

Condensed Consolidated Interim Balance Sheets
(In thousands of United States dollars)

      June 30, December 31,
      2013 2012
Current assets:    
  Cash and cash equivalents $      2,660     $          2,055 
  Amounts receivable 7,089 5,735 
  Unbilled revenue 1,799 2,709 
  Work in process 3 10 
  Prepaid expenses 609 625 
      12,160 11,134 
Property and equipment 3,238 3,703 
Data library 11,524 13,829 
Intangible assets 176 235 
Long-term lease receivable 48
      $    27,146     $        28,901 
Liabilities and Shareholders' Equity    
Current liabilities:    
  Accounts payable and accrued liabilities $      4,908     $          4,747 
  Convertible note 999 2,357 
  Current portion of notes payable 964 892 
  Current portion of deferred lease inducements 98 97 
  Unearned revenue and deposits 59 145 
  Income taxes payable 33 10 
  Obligations under finance leases 86 262 
  Provisions 720 720 
      7,867 9,230 
Long-term notes payable 424 923 
Deferred lease inducements 295 390 
      8,586 10,543 
Shareholders' equity:    
  Share capital 196,121 194,144 
  Accumulated other comprehensive income  24 58 
  Contributed surplus 10,443 10,354 
  Deficit (188,028) (186,198)
      18,560 18,358 
      $    27,146     $        28,901 

« Previous Page 1 | 2 | 3 | 4 | 5 | 6  Next Page »

Review Article Be the first to review this article


Geospatial Analyst/Programmer for LANDIQ at Sacramento, California
Software Developer for CHA Consulting, Inc. at Norwell, Massachusetts
Product Manager for CHA Consulting, Inc. at Boston, Massachusetts
Senior Structural Engineer for Wiss,Janney, Estner Assoicates, Inc at houston, Texas
Mechanical Engineer for Allen & Shariff Corporation at Pittsburgh, Pennsylvania
BIM Manager for Eagle Point Software Corporation at Dubuque, Iowa
Upcoming Events
DroneCon 2018 at MIDRAND, JHB South Africa - May 16 - 18, 2018
GEO Business 2018 at 52 Upper Street London United Kingdom - May 22 - 23, 2018
Upper Midwest Geospatial Conference (UMGEOCON) at 521 East Ave North La Crosse WI - May 23 - 24, 2018
2nd WY UAV Symposium at UW Convention Center 2229 Grand Ave LARAMIE WY - May 30 - 31, 2018
Canon: oce crystalPoint
Teledyne Optech
Interdrone 2018

Internet Business Systems © 2018 Internet Business Systems, Inc.
25 North 14th Steet, Suite 710, San Jose, CA 95112
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation TechJobsCafe - Technical Jobs and Resumes  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise