Revenue up 37% – Net Income up 105%
Mississauga, Ontario, September 28, 2010 – Armada Data Corporation (TSX.V: ARD) (the “Company”) 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, 2010 Armada achieved a number of important milestones.
- The Company reported the 4th consecutive year of profitability with net income, after taxes of $288,720 ($0.02 per share) versus $141,146 last year or an increase of 105%.
- Overall revenue grew from $2,157,900 in 2009 to $2,946,657 or an increase of 37%.
Insurance Services revenue increased from $734,679 in 2009 to $1,103,880 or an increase of 50%.
- Retail Services revenue grew from $716,197 in 2009 to $861,994 or an increase of 20%.
- Dealer Services revenue grew from $532,734 in 2009 to $849,642 or an increase of 59%.
- Advertising/Marketing Services revenue grew from $76,391 in 2009 to $123,647 or an increase of 62%.
- For the 9th consecutive year, the Company remained debt-free.
- The total assets of the Company grew from $1,184,070 in 2009 to $1,564,061 or an increase of 32%.
- The Company’s cash position grew from $695,018 in 2009 to $1,081,165 or an increase of 56%.
Management believes that Armada Data Corporation, with its financial resources, is poised for continued growth as it grows its niche markets in all aspects of its Internet and traditionally based businesses.
It is expected that Management can meet these objectives regardless of economic conditions. Although a robust economy can lead to a greater number of cars sold and thus a potentially larger market opportunity for all of Armada’s divisions, a down economy has proven to have an equally positive impact as both individuals and insurance companies become more cost conscious.
About Armada Data Corporation
Armada Data Corp. is a profitable web-enabled Automobile Information Services Company providing accurate and real-time pricing data, to institutional and retail customers on a fee-for-service basis, through developing, owning and operating automotive related websites and providing information and I.T. services to its clients.
Armada Data Corp shares are listed on the TSX Venture exchange under the trading Symbol ARD. Armada has 14,045,820 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. Paul Timoteo, President & CFO
Tel 1-866-453-6995 ext 224
Investor Relations; please contact Mr. Richard Buzbuzian at Integrated Investor Relations Inc. Tel 647-501-3290 or email: RBuzbuzian@IntegratedIR.com
Public Relations; please contact Mr. Nelson Hudes at Hudes Communications International Tel 905-660-9155 or email: Nelson@HudesCommunications.com
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.