Mississauga, Ontario (FSCwire) - Armada Data Corporation (TSV.V:ARD)
reports that its annual financial results for the year ended May 31, 2018 have now been filed on SEDAR and are available to view
on SEDAR at www.sedar.com and the company’s web site www.armadadata.com.
Selected Annual Information
|
Fiscal Year Ended
|
May 31, 2018
|
May 31, 2017
|
May 31, 2016
|
May 31, 2015
|
|
Total Revenue
|
$2,951,844
|
$2,391,186
|
$2,249,620
|
$2,210,932
|
|
Income before undernoted
|
$380,910
|
$275,821
|
$272,545
|
$2,167
|
|
Income from discontinued operations (Mister Beer Inc.)
|
NIL
|
NIL
|
$86,470
|
$(642,601)
|
|
Income (Loss) before taxes
|
$380,910
|
$275,821
|
$359,015
|
$(640,434)
|
|
Income Taxes
|
$108,595
|
79,957
|
$75,468
|
NIL
|
|
Comprehensive Income (Loss) after Taxes
|
$272,315
|
$195,864
|
$283,547
|
$(640,434)
|
|
Comprehensive Income (Loss) per share
|
$0.02
|
$0.01
|
$0.02
|
$(0.04)
|
|
Total Assets
|
$1,196,600
|
$875,175
|
$953,751
|
$730,565
|
|
Total Liabilities
|
$355,095
|
$325,053
|
$599,493
|
$659,854
|
|
Shareholder’s Equity, including Non-controlling interests
|
$841,505
|
$550,122
|
$354,258
|
$70,711
|
|
Dividends
|
NIL
|
NIL
|
NIL
|
NIL
|
The Company’s total revenue increased by 23% in 2018 to $2,951,844 from $2,391,186 in 2017.
The Company reported comprehensive income of $272,315, due to the following factors:
- A sub-tenant was found for the brewing facility on November 1, 2015, to offset the rent expense of the lease obligation for
these premises, and the Company is no longer responsible for utility, insurance and maintenance expenses for the same
premises.
- Insurance claims increased in fiscal 2018, by 18% over fiscal 2017
- Expansion of carcostcanada.com and dealer services program into the province of Quebec
- The Company retained a new digital advertising network in fiscal 2017
Stock Options
On April 10, 2018, the company granted options for the purchase of 1,200,000 common shares of the company, expiring 2 years
from the date of grant and with an exercise price of $0.11 per share. The options vest 1/3 every six months beginning six
months from the grant date. The Company had no options outstanding prior to April 10, 2018. As of May 31, 2018, none
of the options were exercisable. The remaining fair value of options to be expensed in fiscal years subsequent to May 31,
2018 is $92,772.
Segmented Annual Information
Revenues earned by divisions were as follows:
| |
2018
|
2017
|
|
Insurance Services
|
$1,450,329
|
$1,233,604
|
|
CarCostCanada
|
1,238,974
|
998,656
|
|
IT Services
|
262,541
|
158,926
|
|
Total Revenue – Armada Data Corporation
|
$2,951,844
|
$2,391,186
|
Based on a year-end cash position of $375,767, accounts receivable of $566,230, and accounts payable of $275,287,
the company is in a positive cash position.All divisions of Armada are poised for revenue gains this fiscal year as a result of
new project and feature launches as well as more than one significant partnership that the Insurance and CarCostCanada teams are
working on.Management believes that the data divisions will not only remain very stable and profitable but begin to make
significant inroads in new verticals that will result from our partnerships, project releases and new revenue streams.
The CarCostCanada division was competition-free for many years and had to re-group and re-strategize in order to
prevent further erosion caused by an aggressive competitor.Management expects CarCostCanada.com to start realizing additional
market gains this fiscal year and with the overall new car market remaining poised for more growth nationally (and more
specifically in the web-rich Canadian urban centres), the division plans to earn more members to enhance the new car buying
process for the Canadian new car buying marketplace.
Outlook
The Company’s outlook is to continue to increase sales, update and improve our data services products and
services, and deliver significantly better results to our shareholders by way of the following:
1. Build on the historical success of the Company’s ongoing sales and marketing efforts focused on
increasing sales at Retail Services, Dealer Services and Insurance Services.
2. Launch first-to-the-market features and tools to further increase market share and take advantage of the
significant available base of new car buyers currently not using third-party pricing and dealer referral services.
3. Exploit market awareness and demand for new vehicle pricing information and dealer referrals that result
from the additional competition within that market space; by putting more emphasis on outside partners, data outsourcing and our
underutilized online magazine TheCarMagazine.com
4. Continue to improve our relationships with some of the largest insurance companies in Canada and partner
with some of these organizations to produce new products and services for their vast client base.
5. Maintain operating expenses and achieve the economies of scales of an Internet based business.
6. Execute sales and marketing contracts with related organizations to expand and leverage the user-bases
for CarCostCanada, Armada Insurance and Armada IT Services.
About Armada Data Corp.
Armada Data is a Canadian publicly traded Information & Marketing Services Company providing accurate and
real-time data to institutional and retail customers, through developing, owning and operating automotive pricing-related web
sites and providing information technology and marketing services to its clients.
Armada Data shares are listed on the TSX Venture exchange under the trading Symbol ARD. Armada currently has a
total of 17,670,265 shares outstanding.
Additional information relating to Armada Data Corporation is filed on SEDAR, and can be viewed at www.sedar.com.
For further information, please contact:
Armada Data Corporation
Mr. R. James Matthews, President & CEO
Email: investors@armadadatacorp.ca
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the Policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the original release, please click here
Source: Armada Data Corporation (TSX Venture:ARD)
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