Intermap Technologies Reports First Quarter 2008 Financial Results

In the third quarter of 2007, Intermap announced AccuTerra, a product that provides existing outdoor GPS and personal navigation device (PND) products with detailed maps, land coverage, digital terrain data, and off-road points-of-interest (POI). The Company has no plans to build a PND or GPS device; rather it will offer AccuTerra recreational content under license to manufacturers of these devices.

Intermap has entered into relationships with two GPS navigation OEMs, announcing in February 2008 an agreement to offer Magellan customers access to Intermaps AccuTerra recreational content for two lines of Magellan GPS devices. AccuTerra will be available for purchase directly from the Magellan Web site. Our customers can now transform their recreational experience with the most feature-rich map data available on the market today all in one powerful device, said Christian Bubenheim, vice president of product marketing for Magellan. Intermap has also announced a similar relationship with Bushnell Outdoor Products. Bushnell users will be able to access Intermaps AccuTerra recreational map data for the contiguous 48 states and Hawaii.

Intermap is developing a 3D version of AccuTerra to allow users to visualize trails and other features in three dimensions. We are excited about our new GPS relationships and optimistic about the increasing interest in our data, said Mr. Bullock. Market interest in AccuTerra has grown rapidly and Intermap is in discussions with other GPS and PND manufacturers that are active or looking to enter the recreation segment. We believe the evolution of GPS and PNDs to 3D will improve the user experience for off-road enthusiasts, hikers, hunters, fisherman, skiers, and mountaineers. Were seeing a rapid increase in 3D visualization development that is driving consumer awareness and market adoption.

Insurance Risk Management

Intermap is developing flood risk models in European countries following the success of flood modeling applications pioneered in Great Britain. The Company has partnered with SwissRe for use of their flood modeling algorithms and for quality assurance support for all of Europe.

Insurance companies can use NEXTMaps superior insurance risk information to better define possible risks. The result can be more effective portfolio management and a net reduction of annual costs through a reduced need for reinsurance coverage and lower payouts after flood events. Intermap is also in discussions with U.S. insurers for commercial insurance applications.

Advanced Driver Assistance Systems (ADAS)

To enable automotive safety applications, Intermap is creating road centerlines for all classes of roads in the U.S. and Europe. The Company has demonstrator agreements with several industry partners in support of emerging Intelligent Transportation Systems (ITS) applications using Intermap's 3D road vectors derived from its NEXTMap database. Accurate road vectors enable an automobiles electronic system to anticipate the road ahead, providing an input to visualization, performance, and other advanced driver assistance applications.

A significant amount of the fuel expense in the heavy trucking industry is attributed to changes in road slope. The Companys 3D road vector data is enabling the design of systems to manage optimal vehicle speed and gear selection designed to improve fuel economy and reduce operating costs.

Detailed financial results for the quarter and managements discussion and analysis can be found on SEDAR at:

Annual Meeting Reminder

Intermap extends an invitation to shareholders and members of the investment community to attend its Annual Meeting on May 13, 2008, at 11:00 a.m. MDT, in the Westwinds Conference Room (Second Floor) #1200, 555 - 4th Avenue S.W., in Calgary, Alberta. An electronic version of the Company's 2007 annual filings can be found on

Conference Call May 9, 2008 at 10:00 a.m. EDT (8:00 a.m. MDT)

Intermap will host a conference call on May 9, 2008 at 10:00 a.m. EDT (8 a.m. MDT, 3 p.m. GMT). To participate in the call, please dial 416-695-5259 or 1-800-952-6845 approximately 10 minutes prior to the conference call. A recording of the conference call will be available through May 16, 2008. Please dial 416-695-5800 or 1-800-408-3053 and provide the password 3261072 to listen to the rebroadcast.

About Intermap Technologies

Intermap (TSX:IMP.TO)(AIM:IMAP.L) is a preeminent digital mapping company creating uniform high-resolution 3D digital models of the earths surface. The Company is proactively remapping entire countries and building uniform national databases, called NEXTMap®, consisting of affordably priced elevation data and geometric images of unprecedented accuracy. Demand for NEXTMap data is growing as new commercial applications emerge within the GIS, engineering, automotive, personal navigation device, insurance risk assessment, oil and gas, hydrology, environmental planning, wireless communications, transportation, aviation and 3D visualization markets.

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

Review Article Be the first to review this article


Featured Video
GIS Data Analyst for CostQuest Associates, Inc. at Cincinnati, Ohio
Product Manager for CHA Consulting, Inc. at Boston, Massachusetts
Software Developer for CHA Consulting, Inc. at Norwell, Massachusetts
Geospatial Analyst/Programmer for LANDIQ at Sacramento, California
Mechanical Engineer for Allen & Shariff Corporation at Pittsburgh, Pennsylvania
Mid-Level Mechanical Engineer for Kiewit at lenexa, Kansas
Upcoming Events
2nd WY UAV Symposium at UW Convention Center 2229 Grand Ave LARAMIE WY - May 30 - 31, 2018
Locate 2018 at Pier 27, The Embarcadero San Francisco CA - May 30 - 31, 2018
GeoIntelligence Asia at NEW DELHI India - Jun 4 - 5, 2018
SPAR 3D & AEC Next Technology Expo + Conference at Anaheim Convention Center Anaheim CA - Jun 5 - 7, 2018
Teledyne Optech
Bentley: -YII 2018 Awards
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