Intermap Technologies Reports 2014 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)
(Unaudited)
                                       
              For the three months       For the six months
              ended June 30,       ended June 30,
              2014       2013       2014       2013
                                       
Revenue           $ 2,353     $ 8,877     $ 4,457     $ 13,970
                                       
Expenses:                                      
  Operating costs             5,274       6,862       11,041       12,183
  Depreciation of property and equipment             295       365       587       724
  Amortization of data library             -       1,153       -       2,305
  Amortization of intangible assets             30       30       59       59
              5,599       8,410       11,687       15,271
                                       
Operating (loss) income             (3,246)       467       (7,230)       (1,301)
                                       
Gain on disposal of equipment             51       200       413       204
Financing costs              (308)       (228)       (512)       (450)
Financing income             1       -       8       -
Loss on foreign currency translation             (43)       (269)       (121)       (236)
(Loss) income before income taxes             (3,545)       170       (7,442)       (1,783)
                                       
Income tax (expense) recovery:                                      
  Current             -       -       -       (47)
  Deferred             -       -       79       -
              -       -       79       (47)
                                       
Net (loss) income for the period           $ (3,545)     $ 170     $ (7,363)     $ (1,830)
                                       
Other comprehensive income (loss):                                      
  Foreign currency translation differences             2       3       1       (34)
                                       
Comprehensive (loss) income for the period           $ (3,543)     $ 173     $ (7,362)     $ (1,864)
                                       
Basic (loss) income per share           $ (0.04)     $ 0.00     $ (0.08)     $ (0.02)
Diluted (loss) income per share           $ (0.04)     $ 0.00     $ (0.08)     $ (0.02)
                                       
Weighted average number of Class A                                       
  common shares - basic             91,648,742       79,174,911       91,622,212       79,032,206
  common shares - diluted             91,648,742       79,646,130       91,622,212       79,032,206
                                         

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