Intermap Q2 revenue up 11%

Intermap Q2 revenue up 11%

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Denver: Intermap Technologies Corporation, a leading provider of geospatial solutions, has reported total revenue of $8.9 million for the second quarter of 2013, an 11% increase from $8.0 million recorded in the same period of 2012.

According to the financial results, the net income for the second quarter of 2013 was $0.2 million, or $0.002 per share, compared to net income of $0.8 million, or $0.01 per share for the second quarter of 2012. Second quarter adjusted EBITDA, a non IFRS financial measure, was $2.2 million, compared to adjusted EBITDA of $2.7 million for the same period in 2012. Adjusted EBITDA excludes restructuring costs, share-based compensation, gain or loss on the disposal of equipment, and gain or loss on foreign currency translation. “We”re pleased to report revenue growth on a quarter-over-quarter and year-over-year basis for the second quarter and year-to-date periods in 2013,” said Todd Oseth, President & CEO of Intermap.

Source: online.wsj.com