|Armada Data earns $166,941 in fiscal Q2 2018|
2018-01-29 11:14 MT - News Release
Mr. James Matthews reports
ARMADA RELEASES Q2 2018 RESULTS
Armada Data Corp. has filed its interim financial results for the quarter ended Nov. 30, 2017, on SEDAR and they are available to view on SEDAR and the company's website.
SELECTED QUARTERLY INFORMATION
Fiscal year 2018 2018 2017 2017 2017 2017 2016 2016
Quarter Nov. 30, Aug. 31, May 31, Feb. 28, Nov. 30, Aug. 31, May 31, Feb. 29,
ended 2017 2017 2017 2017 2016 2016 2016 2016
Total revenue $758,242 $777,838 $594,625 $568,029 $633,385 $595,147 $611,939 $534,779
before taxes 166,941 199,064 (38,395) 51,733 117,741 144,743 175,057 79,419
share $0.01 $0.01 $0.00 $0.00 $0.01 $0.01 $0.01 $0.00
The prior periods' comparative figures have been reclassified, where necessary, to conform to the current year's presentation.
The company's total revenue increased by 20 per cent in the period ended Nov. 30, 2017, to $758,242 from $633,385 in the same period a year earlier. Comprehensive income increased to $166,941 in this quarter, up 42 per cent from $117,741 at Nov. 30, 2016.
The insurance services division experienced an increase in revenue from $352,177 in the three months ended Nov. 30, 2016, to $382,744 in 2017, or by 9 per cent. The increase in revenue was the result of the concerted effort by the insurance division to process more claims faster.
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 come directly or indirectly from the CarCostCanada 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 31 per cent to $311,960 from $237,735 in 2016. An increase in dealer sales, along with the expansion into Quebec, accounts for this increase in revenue.
The information technology (IT) division revenue increased by 46 per cent to $63,538 in the second quarter of fiscal 2018 ended Nov. 30, 2017, from $43,473 in the same quarter in fiscal 2017. The IT division continues to offer technical support and website 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 second quarter of fiscal 2018 before amortization increased to $581,435, compared with $505,866, a 15-per-cent increase over the same period last year.
As a result of the income reported by the company in this quarter ended Nov. 30, 2017, the company's deficit decreased to $839,709 compared with $1,142,417 at the quarter ended Nov. 30, 2016. Earnings per share at Nov. 30, 2017, are one cent, unchanged from one cent per share at Nov. 30, 2016.
Management does not plan on issuing any dividends until further notice.
Segmented quarterly information
Revenues earned by divisions were as shown in the attached table.
Three months ended Three months ended
Nov. 30, 2017 Nov. 30, 2016
Insurance services $ 382,744 $ 352,177
CarCostCanada 311,960 237,735
IT services 63,538 43,473
Total revenue --
Armada Data Corp. $ 758,242 $ 633,385
The company's outlook is to maintain its current growth pattern and to continue to find new ways to leverage and monetize its new car data, its up-to-date factory incentive platform and its customer list. The following is a short list of initiatives that Armada is building upon to add shareholder value:
Continue to enhance the CarCostCanada new car data, display quality, and membership features and benefits;
Build upon the existing CarCostCanada national on-line and traditional marketing and awareness programs as well as enhance the membership registration process;
Forge new and sophisticated partnerships with its insurance company clients, car business suppliers and new car marketing agencies to grow the CarCostCanada membership base;
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;
Continue the company's growth pattern in the insurance services division by adding additional Canadian insurance companies to its client list.
About Armada Data Corp.
Armada Data is a Canadian publicly traded information and marketing services company providing accurate and real-time data to institutional and retail customers through developing, owning and operating automotive pricing-related websites, and providing information technology and marketing services to its clients.
© 2018 Canjex Publishing Ltd. All rights reserved.
| Reply to Jimjones1972 - Msg #5985 - 09/28/2017 17:13|
Armada Data earns $195,864 in fiscal 2017
2017-09-28 14:40 MT - News Release
Mr. R. James Matthews reports
ARMADA RELEASES ANNUAL RESULTS
Armada Data Corp.'s annual financial results for the year ended May 31, 2017, have now been filed on SEDAR and are available to view on SEDAR and the company's website.
SELECTED ANNUAL INFORMATION
Fiscal Year Ended May 31, 2017 May 31, 2016 May 31, 2015 May 31, 2014
Total Revenue $2,391,186 $2,249,620 $2,210,932 $2,606,924
Income before undernoted 275,821 272,545 $2,167 $403,398
Income from discontinued operations
(Mister Beer Inc.) NIL 86,470 $(642,601) $(541,251)
Income (Loss) before taxes $275,821 $359,015 $(640,434) $(137,853)
Income Taxes $79,957 75,468 NIL $(102,289)
Comprehensive Income (Loss) after Taxes $195,864 $283,547 $(640,434) $(240,142)
Comprehensive Income (Loss) per share $0.01 $0.02 $(0.04) $(0.01)
Total Assets $875,175 $953,751 $730,565 $1,256,286
Total Liabilities $325,053 $599,493 $659,854 $545,141
Shareholder's Equity, including
Non-controlling interests $550,122 $354,258 $70,711 $711,145
Dividends NIL NIL NIL NIL
The prior periods' comparative figures have been reclassified, where necessary, to conform to
the current year's presentation.
The Company's total revenue increased by 6% in 2017 to $2,391,186 from $2,249,620 in 2016.
The Company reported comprehensive income of $275,821, 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 2017, by 15% over fiscal 2016.
Expansion of carcostcanada.com and dealer services program into the province of Quebec.
The Company retained a new digital advertising network.
Selected Quarterly Information
No dividends were paid out to shareholders in fiscal 2017 or fiscal 2016.Management does not plan on issuing any dividends until further notice.
The Insurance Services division experienced an increase in revenue, from $1,108,745 in 2016 to $1,279,067 in 2017, or by 15%. The increase in revenue was the result of the concerted effort by the Insurance Division to process more claims faster.
The Retail Services division revenue was down 20% to $182,476 from $227,038. The new CarCostCanada.com website and a new French-language site devoted to the Quebec market were not effective enough to stop the steady decline of membership revenues due to a competitor providing a similar service. Membership overall remained steady as a result of regular promotions and management decided to uphold a discounted membership fee to not lose further market share.
The Dealer Services division revenue increased from $660,540 in 2016 to $676,225 in 2017. Despite the decrease in membership sales, which drive the dealer lead generation program, and some manufacturer intervention on the part of an automaker that discourages their dealer-body from participating in any type of third-party lead generation program, this division managed to increase its revenue by 2%, accounted by an expansion into Quebec.
The Advertising/Marketing Services division, which derives its revenue from the sale of online third party advertising on CarCostCanada.com and TheCarMagazine.com increased from $74,624 to $94,492. Management was successful in their efforts to search out additional sources of revenue in this division.
The Information Technology division revenue decreased by 11% to $158,926 in 2017, from $178,673 in 2016. 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. The Mister Beer division ceased operations on December 31, 2014, and its assets disposed of in fiscal 2016. There was no activity in this division in fiscal 2017. Armada's consolidated statement reflects income this year, before corporation income taxes, of $275,821, compared to the income before corporation income taxes of $359,015 in 2016. Corporation income tax expense is $79,957 in 2017, compared to $75,468 in 2016.
Total expenses before amortization increased to $2,075,093 compared to $1,935,704, a 7% increase over last year.After the many cost-cutting measures to reduce expenses in 2015 and 2016, the largest increase is in salaries and wages, which is up 24% over last year.Advertising expense has increased 55%, due to new radio advertising campaigns.
As a result of the income reported by the Company in 2017, the Company's deficit decreased to $(1,207,374) as at May 31, 2017 compared to $(1,406,561) the prior year. Earnings per share at May 31, 2017 are $0.01 versus $0.02 per share at May 31, 2016.
Based on a year-end cash position of $296,200, accounts receivable of $312,129, and accounts payable of $293,756, the company is in a positive cash position.By closing the Mister Beer division, management has reduced overall expenses and commitments.The other 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 Retail Service 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. 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:
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.
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.
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.
Maintain operating expenses and achieve the economies of scales of an Internet based business.
Expand third-party fee-based online advertising by developing improved and more secure advertising.
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.
© 2017 Canjex Publishing Ltd. All rights reserved.