Intermap Technologies Reports 2015 Second Quarter Financial Results

 

INTERMAP TECHNOLOGIES CORPORATION
Condensed Consolidated Interim Statements of Profit and 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,

             

(as restated)

     

2015

 

2014

 

2015

 

2014

                   

Revenue

$

719

 

$

2,353

 

$

1,675

 

$

4,457

                   

Expenses:

             
 

Operating costs

4,839

 

5,274

 

9,497

 

11,041

 

Depreciation of property and equipment

244

 

295

 

486

 

587

 

Amortization of intangible assets

-

 

30

 

13

 

59

     

5,083

 

5,599

 

9,996

 

11,687

                   

Operating loss

(4,364)

 

(3,246)

 

(8,321)

 

(7,230)

                   

Gain on disposal of equipment

-

 

51

 

47

 

413

Change in fair value of derivative instruments

(3,672)

 

176

 

(3,643)

 

1,405

Financing costs

(866)

 

(321)

 

(1,986)

 

(510)

Financing income

-

 

1

 

4

 

8

Gain (loss) on foreign currency translation

(114)

 

(43)

 

24

 

(121)

Loss before income taxes

(9,016)

 

(3,382)

 

(13,875)

 

(6,035)

                   

Income tax (expense) recovery:

             
 

Current  

-

 

-

 

(20)

 

-

 

Deferred

-

 

-

 

-

 

318

     

-

 

-

 

(20)

 

318

                   

Net loss for the period

$

(9,016)

 

$

(3,382)

 

$

(13,895)

 

$

(5,717)

                   

Other comprehensive loss:

             
                   

Items that are or may be reclassified subsequently to profit or loss:

             
             
 

Foreign currency translation differences

25

 

2

 

(32)

 

1

                   

Comprehensive loss for the period

$

(8,991)

 

$

(3,380)

 

$

(13,927)

 

$

(5,716)

                   

Basic and diluted loss per share

$

(0.10)

 

$

(0.04)

 

$

(0.15)

 

$

(0.06)

                   

Weighted average number of Class A common

             
 

shares - basic & diluted

92,952,350

 

91,648,742

 

92,370,739

 

91,622,212


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