Armada Data Corporation
Monday, April 30, 2018 - 7:30 AM EDT

Armada Releases Q3 2018 Results



Mississauga, Ontario (FSCwire) - Armada Data Corporation (TSV.V:ARD) reports its interim  financial results for the quarter ended February 28, 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 Quarterly Information

Fiscal Year

2018

2018

2018

2017

2017

2017

2017

2016

Quarter

Feb-28

Nov-30

Aug-31

May-31

Feb-28

Nov-30

Aug-31

May-31

Ended

2018

2017

2017

2017

2017

2016

2016

2016

Total Revenue

738,576

758,242

777,838

594,625

568,029

633,385

595,147

611,939

Comprehensive

Income(Loss) before taxes

51,364

166,941

 199,064

 (38,395)

51,733

117,741

144,743

97,589

Comprehensive Income per share

$0.00

$0.01

$0.01

$0.00

$0.00

$0.01

$0.01

$0.01

The prior periods’ comparative figures have been reclassified, where necessary, to conform to the current year’s presentation.

 

Operations

 

The Company’s total revenue increased by 30% in the period ended February 28, 2018 to $738,576 from  $568,029 in the same period a year earlier.  Comprehensive income decreased to $51,364 in this quarter, down 1% from  $51,733 at February 28, 2017.

 

The Insurance Services division experienced an increase in revenue, from $319,012 in the three months ended February 28, 2017 to $404,750 in 2018, or by 27%.  The increase in revenue was the result of processing the most claims in January 2018 in the Company’s history.

 

The Company has combined the Retail, Dealer and Advertising/Marketing divisions into one segment, known as CarCostCanada, due to the fact that the revenues earned by these divisions comes directly or indirectly  from the carcostcanada.com website, and as the Company has moved into free trial memberships, the business model for the former Retail Services Division has changed. CarCostCanada revenue was up 27% to $259,651 from $203,693 in 2017.   An increase in dealer sales, along with the expansion into Quebec accounts for this increase in revenue.

 

The Information Technology division revenue increased by 64% to $74,175 in the third quarter of fiscal 2018 ended February 28, 2018, from $45,324 in the same quarter in fiscal 2017.   IT continues to offer technical support and web site hosting to hundreds of customers, and is developing new customer relationships on a regular basis, as well as offering new services for sale.

 

Expenses in this third quarter of fiscal 2018 before amortization increased to $685,643, compared to $506,518, a 35% increase over the same period last year.After the many cost-cutting measures to reduce expenses in 2015 and 2016, the largest increase is in salaries and wages, and advertising expense is up due to new radio advertising campaigns.

 

As a result of the income reported by the Company in this quarter ended February 28, 2018, the Company’s deficit decreased to $(788,977) compared to $(1,081,523) at the quarter ended February 28, 2017. Earnings per share at February 28, 2018 are $0.00, unchanged from$0.00 per share at February 28, 2017.

 

Management does not plan on issuing any dividends until further notice.

 

Segmented Quarterly Information

Revenues earned by divisions were as follows:

                                                                                                      3 month ended                     3 months ended

 

   February 28, 2018

%

    February 28, 2017

%

Insurance Services

$                  404,750

55

$              319,012

 56

CarCostCanada

                    259,651

33

 203,693

 36

IT Services

                      74,175

10

45,324

  8

Total Revenue – Armada Data Corporation

$                  738,576

  100

$              568,029

  100

 

 

Outlook

 

The Company’s outlook is to maintain our current growth pattern, and to continue to find new ways to leverage and monetize our new car data, our up-to-date factory incentive platform, and our customer list.The following is a short list of initiatives that Armada is building upon to add shareholder value:

 

  1. Continue to enhance the CarCostCanada new car data, display quality and membership features and benefits.
  2. Build upon the existing CarCostCanada national online and traditional marketing and awareness programs, as well as enhancing the membership registration process.
  3. Forge new and sophisticated partnerships with our insurance company clients, car business suppliers, and new car marketing agencies to grow the CarCostCanada membership base.
  4. Develop new first-to-the-market tools and features that will provide new car buyers with additional tools to improve their new car buying experience and relationships with their new car dealerships.
  5. Continue our growth pattern in the Insurance Services division by adding additional Canadian insurance companies to our client list.

 

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.







Source: Armada Data Corporation (TSX Venture:ARD)

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