2013-01-30 23:03:23 -
Mississauga, Ontario, January 30, 2013 - Armada Data Corporation (TSX.V: ARD) is pleased to report its interim financial results for the quarter ended November 30, 2012 have now been filed on Sedar and are available to view on the Company's website www.ArmadaData.com as well as on Sedar at www.Sedar.com .
Highlights for the Quarter compared to the same quarter last year
* The Mister Beer Inc. division's new production facility is complete, and subsequent to November 30, 2012, accepted and filled its first significant order, the biggest in Mister Beer's history.
* Capital investment of $668,697in the new facility
* Wages and Other Office Expenses have been reduced by 30%, from $984,029 to $685,179, due to staffing efficiencies and other cost-saving
* IT division revenue increased by 23%
Q2, 2013 saw the completion and commissioning of the new Mister Beer Inc. (MBI) production facility in Mississauga, Ontario. Although the investment is significant, management believes that the short and long term returns will begin to emerge by the end of this fiscal year. As a result of the move from the outdated Woodbridge facility to the new Mississauga facility, MBI lost almost two (2) weeks of production opportunities. The MBI division sustained a Q2 loss of over $100,000 which was mainly attributable to the move and commissioning of the new plant.
November 30, 2012 revenue decreased to $675,288 versus $863,170 at November 30, 2011 or a decrease of 22%.
The Company recorded comprehensive loss before corporate income tax provision, of $31,503 compared to a comprehensive loss of $36,375 last year, an increase of 13%. This change is a direct result of the reduction of divisional expenses, offsetting the divisional loss in the Mister Beer Inc. operations.
Revenue in this division decreased by 38%, from $337,632 to $210,695. Insurance Services contributed 33% of the Company's total revenue in this quarter. Reduction of expenses allowed this division to remain profitable.
Revenue was down to $121,387 from $156,425, or 22%. The division contributed 19% of the Company's total revenue.
This division's revenue decreased by 15% (to $208,453 from $245,932), expected due to the division's productivity being directly related to CarCostCanada.com membership sales. Due to efficiencies made by management, the percentage decrease is not as great as the decrease in the Retail Services division.
The Internet Technologies (IT) division increased its revenue by 23%, from $47,545 to $58,485 and contributed 9% to the Company's total revenue. It also provides the additional benefit of keeping all the many and varied IT expenditures in-house.
Revenue was down to $19,091 from $32,170 (41%). The contribution to total revenue was 3% this quarter.
Mister Beer Inc.
Mister Beer Inc. had gross sales of $120,652, less $63,475 of direct costs and labour, to report net revenues of $57,177, and contributed 8% to the Company's total revenue.
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's information and marketing abilities have enabled the company to leverage that experience into the food and beverage industry by its acquisition of 90% of the issued and outstanding shares of The Big & Easy Bottle Brewing Company Inc. The Big & Easy Bottle Brewing Company Inc. owns 100% of Mister Beer Inc., which invented, produces and markets the unique "microbrewery in a bottle" beer-making kit.
Armada Data shares are listed on the TSX Venture exchange under the trading Symbol ARD. Armada currently has a total of 16,559,154 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
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.
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