Net Income, Before Taxes up 18%
Mississauga, Ontario- Sept-29-2011 – Armada Data Corporation is pleased to announce the Company’s year-end results. Additional information is filed on SEDAR, and can be viewed at www.sedar.com
During the year ended May 31, 2011 Armada achieved a number of important milestones.
- The Company reported the 5th consecutive year of profitability. Net income, before taxes increased from $345,717 in 2010 to $409,095 or an increase of 18%.
- Overall revenue grew from $2,946,657 in 2010 to $3,061,762 or an increase of 4%.
- Insurance Services revenue increased from $1,103,880 in 2010 to $1,141,456 or an increase of 3%.
- Dealer Services revenue grew from $849,642 in 2010 to $977,400 or an increase of 15%.
- The total assets of the Company grew from $1,564,061 in 2010 to $1,969,475 or an increase of 26%.
- Shareholders’ equity increased from $1,342,256 in 2010 to $1,688,633 or an increase of 26%.
- The Company claimed and received a SRED (Scientific Research and Experimental Development) government tax credit of $54,222, net of consulting fees, for the fiscal year ending May 31, 2009.
- 4th Quarter revenue was the highest in the Company’s history at $855,412 versus $741,817 in Q4 of 2010 or an increase of 15%.
Proposed Acquisition of The Big & Easy Bottle Brewing Company Inc.
On August 8th, 2011 the Company announced that it entered into an agreement in principal to acquire 90% of the issued and outstanding shares of The Big & Easy Bottle Brewing Company Inc. (“TBE”). TBE is the holder of all of the shares of Mister Beer Inc., a company which invented and has a pending patent on a unique ‘microbrewery in a bottle’, allowing consumers to easily produce premium beer at roughly half the cost of regular beer.
To read the full press release “Armada Data Announces 5th Consecutive Year of Profitability” dated September 29, 2011 click here