Intermap Technologies Reports 2013 Second 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 six months   
        ended June 30,        ended June 30,   
      2013   2012    2013   2012
                   
Revenue:              
  Contract services $          7,755   $          1,557    $        11,773     $          4,910 
  Data licenses 1,122   6,432    2,197   7,304 
      8,877   7,989    13,970   12,214 
Expenses:              
  Operating costs 6,862   5,535      12,183   12,866 
  Depreciation of property and equipment 365   465    724   1,067 
  Amortization of data library 1,153   1,153    2,305   2,305 
  Amortization of intangible assets 30   29    59   108 
      8,410   7,182    15,271   16,346 
                     
Operating income (loss) 467   807    (1,301)   (4,132)
                   
Gain on disposal of equipment 200     204   26 
Financing costs, net (228)   (44)   (450)   (93)
Gain (loss) on foreign currency translation (269)   66    (236)   (51)
Income (loss) before income taxes 170   835    (1,783)   (4,250)
                   
Income tax (expense) recovery:              
  Current -     (47)   (36)
  Deferred -   (5)   -    
      -   (3)   (47)   (28)
                   
Net income (loss) for the period $             170   $             832    $        (1,830)   $         (4,278)
                   
Other comprehensive income (loss):              
  Foreign currency translation differences 3   (68)   (34)   (37)
                   
Total comprehensive income (loss) for the period $             173   $            764    $        (1,864)   $         (4,315)
                   
Basic income (loss) per share $            0.00   $           0.01    $          (0.02)   $           (0.05)
Diluted income (loss) per share $            0.00   $           0.01    $          (0.02)   $           (0.05)
                   
Weighted average number of Class A               
  common shares - basic    79,174,911      78,557,448       79,032,206      78,568,250 
  common shares - diluted 79,646,130   78,557,448    79,032,206   78,568,250 
                   

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