MapInfo Reports First Quarter Revenues of $42.0 Million and GAAP EPS of $0.09

TROY, N.Y.—(BUSINESS WIRE)—February 1, 2007— MapInfo Corporation (Nasdaq: MAPS), the leading global provider of location intelligence solutions, today announced financial results for its first quarter of fiscal 2007.

Mark Cattini, president and chief executive officer of MapInfo, stated, "We are pleased with the company's operational performance in our first fiscal quarter, highlighted by our product revenue growing at its highest organic rate in over a year, while total revenue growth improved as expected from the previous quarter. Key contributors to our solid performance were improvement in our European execution and a strong rebound in our business with communications customers."

Cattini added, "We believe that market awareness and demand for location intelligence solutions continues to grow, and MapInfo is uniquely positioned to capitalize on this market opportunity based on our domain expertise, large customer base and industry leading vertical solutions."

For the quarter ended December 31, 2006, MapInfo reported total revenue of $42.0 million, an increase of eight percent compared to the prior year period. For the quarter ended December 31, 2006, MapInfo delivered operating income, in accordance with accounting principles generally accepted in the United States (GAAP) of $2.5 million, an increase of six percent compared to $2.4 million in the year ago period.

GAAP net income for the quarter ended December 31, 2006 was $2.0 million and GAAP earnings per share were $0.09 per share, including a $0.03 per share net impact from non-cash stock-based compensation expense, $0.01 per share net impact from previously disclosed European severance costs and a $0.02 per share net impact from a one-time charge related to the termination of our exclusive distributor relationship in a key Asia Pacific geography.

The $0.02 Asia Pacific charge resulted from a one-time expense of approximately $750,000. The company believes its restructured go-to-market partnership strategy will significantly improve its ability to expand MapInfo's market presence in the Asia Pacific region. GAAP net income and earnings per share grew 20 percent and 13 percent, respectively, compared to the prior year period.

MapInfo had cash and investments of $95.9 million at December 31, 2006, an increase from $90.4 million at the end of the prior quarter. The company generated approximately $5.3 million in cash from operations during the first fiscal quarter 2007, an increase of 73 percent compared to the prior fiscal year period.

Cattini concluded, "Steady improvement in our global execution, progress against our strategic growth initiatives and the solid start to fiscal 2007 increases our confidence in improving our quarterly revenue growth rates while improving our profitability margins over the course of fiscal 2007."


For the second fiscal quarter 2007, the company anticipates revenue in the range of $42.5 million to $44.5 million and GAAP earnings per share of $0.10 to $0.13. Included in the company's earnings guidance is an estimate for stock-based compensation expense of approximately $0.03 per share.

For the full year fiscal 2007, the company increases guidance to $178 million to $182 million of revenue and GAAP earnings per share in the range of $0.49 to $0.54. Included in the company's earnings guidance is an estimate for stock-based compensation expense of approximately $0.12 per share, $0.01 per share for the European severance costs and $0.02 per share for the one-time charge related to the termination of our exclusive distributor relationship in a key Asia Pacific geography.

Conference Call

The MapInfo First Quarter Earnings Conference Call will be held at 4:45 pm (EST) on Thursday, February 1, 2007. The conference call will be Webcast live at or An audio replay of the call will be available starting at 6:00 pm (EST) on February 1, 2007 through February 8, 2007. To access the recording, domestic callers may dial into 877-519-4471 and international callers into 973-341-3080 (passcode: 8309693). Replays of the Webcast are also available for 90 days following the call at and at

About MapInfo

MapInfo is a global company and the leading provider of location intelligence solutions, integrating software, data and services to provide greater value from location-based information and drive more insightful decisions for businesses and government organizations around the world. MapInfo solutions are available in multiple languages through a network of strategic partners and distribution channels in 60 countries. Headquartered in Troy, N.Y., MapInfo is on the World Wide Web at

Of Note

Statements in this press release regarding MapInfo's future financial performance, including statements regarding future revenue and earnings per share, statements regarding the broadening of usage of MapInfo's products in targeted vertical markets, statements regarding the prospects of favorable business conditions, and any other statements about management's future expectations, beliefs, goals, plans or prospects constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. MapInfo's actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including those factors contained in the Company's most recent annual report on Form 10-K under the section "Risk Factors" as well as other documents that may be filed by MapInfo from time to time with the Securities and Exchange Commission. Forward-looking statements can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," "will" and "would" or similar words. MapInfo assumes no obligations to update the information included in this press release.

                 MapInfo Corporation and Subsidiaries
                          Income Statements
                (in thousands, except per share data)

                                                       Three Months
                                                    Ended December 31,

                                                      2006     2005
                                                    --------- --------

Net revenues:
  Products                                           $31,230  $28,638
  Services                                            10,804   10,296
                                                    --------- --------

    Total net revenues                                42,034   38,934
                                                                      ---------  --------

Cost  of  revenues:
    Products                                                                                          5,711        5,058
    Services                                                                                          7,047        7,053
                                                                                                        ---------  --------

Total  cost  of  revenues                                                                12,758      12,111
                                                                                                        ---------  --------

              Gross  profit                                                                      29,276      26,823
                                                                                                        ---------  --------

Operating  expenses:
    Research  and  development                                                          6,732        6,275
    Selling  and  marketing                                                              14,864      12,766
    General  and  administrative                                                      5,164        5,401
                                                                                                        ---------  --------

              Total  operating  expenses                                              26,760      24,442
                                                                                                        ---------  --------

              Operating  income                                                                2,516        2,381

Interest  income                                                                                    978            657
Interest  expense                                                                                (233)        (278)
Other  income  (expense),  net                                                          (198)        (148)
                                                                                                        ---------  --------

              Interest  and  other  income  (expense),  net                    547            231
                                                                                                        ---------  --------

              Income  before  income  taxes                                            3,063        2,612
Provisions  for  income  taxes                                                        1,113            986
                                                                                                        ---------  --------

              Net  income                                                                          $1,950      $1,626
                                                                                                        =========  ========

Earnings  per  share                                                                          $0.09        $0.08

Average  shares  outstanding                                                        22,154      21,558

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