ARD Armada Data Corporation

Armada Data Corporation (TSX VENTURE:ARD) is pleased to report that its interim
financial results for the quarter ended November 30, 2010 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 Company reported the highest revenue in the Company's history 

--  Overall revenue grew from $453,046 last year to $750,628; an increase of
    66%. 

--  Operating income (before amortization and stock-based compensation) grew
    from $50,056 to $66,660; an increase of 33%. 

--  Insurance Services revenue grew from $184,810 to $299,895; an increase
    of 62%. 

--  Retail Services revenue grew from $123,373 to $212,316; an increase of
    72%. 

--  Dealer Services revenue grew from $87,905 to $197,887; an increase of
    125%. 

--  Advertising/Marketing Services revenue grew from $14,025 to $39,334; an
    increase of 180%. 

--  CarCostCanada.com new membership sales grew from 3,168 to 5,483; an
    increase of 73%. 

--  Company plans to increase yearly dividend. Amount to be determined at
    year end. 



Record revenues of $750,628 for the quarter ended November 30, 2009 were
achieved as the Company reported its highest revenue in the Company's history. 


Overall revenue grew to $750,628; an increase of 66% from $453,046 a year
earlier. Operating income (before amortization and stock based compensation) was
$66,660 from $50,056; a 33% increase over last year. (Operating Income is a
non-gaap measurement)


All four major divisions experienced significant growth. 

1. Insurance Services

Revenue from Armada Insurance Services, increased to $299,895 from $184,810 last
year, an increase of 62%. For the quarter Insurance Services generated 40% of
the company's revenue versus 41% last year.


The increased revenues were primarily the result of the Company's new ACV
(Actual Cash Value) service being adopted by a growing number of the Company's
existing clients which currently use the 43r (Waiver of Depreciation) service.


The Company currently works with 26 Insurance Companies in Canada, including
eight of the top ten.


2. Retail Services

Overall revenue from Retail Services increased to $212,316 from $123,373 last
year, an increase of 72%. For the quarter Retail Services generated 28% of the
company's revenue versus 27% last year.


The majority of the increase in revenue can be attributed to an aggressive
marketing campaign the Company launched in February 2009. Continuous refinement
has allowed for a very high return on investment which the Company anticipates
will continue moving forward.


3. Dealer Services

Overall revenue from Dealer Services increased to $197,887 from $87,905 last
year, an increase of 125%. For the quarter Dealer Services generated 26% of the
company's revenue versus 19% last year.


Dealer Services generates revenue through the sale of new vehicle leads derived
from members of Car Cost Canada. As Retail Services revenue increases, so does
Dealer Services revenue. Additional coverage in previously underserviced areas
will continue to drive revenue increases beyond those of Retail Services. 


4. Advertising/Marketing Services

Third party advertising revenue on CarCostCanada.com and TheCarMagazine.com
increased to $39,334 from $14,025 last year, an increase of 180%. Although
revenue increased significantly, the Company will look to improve results in
this area in the coming quarters, with the anticipation of increased revenues
moving forward.


"I am pleased to report a very successful second quarter. All of our major
business divisions posted impressive gains. Our online advertising campaign
delivered the best results in Armada's history and our new ACV insurance
services product is gaining acceptance with our existing insurance customers
which is in a very large market space for us; 10 times larger than our current
service was targeting. We believe after 10 years we now are now beginning to see
the success that our business holds. For that I thank my entire team and look
forward to reporting continued success to our shareholders in the coming
quarters." commented Paul Timoteo, President and CFO.


Outlook and Investor Highlights

Armada Data continues to work to attain a number of important fiscal and
operational achievements, which include:




--  Retail Services continues to grow despite perceived weak overall market
    conditions 
--  Dealer Services continues to outpace all divisions in growth 
--  Insurance Services is now in its busiest time of the year 
--  ACV Service now contributing to significant revenue generation 
--  Company remains 100% debt free and is in the best cash position in its
    history 
--  Management is focused on National sales growth, expense management and
    increasing profitability 
--  An independent audit committee and mandate remains in full force to
    ensure quality of corporate governance to provide shareholders the
    confidence they deserve 



Management believes that Armada Data Corporation, with its financial resources,
is poised for significant 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 Corp.

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 services to its
clients.


Armada Data Corp shares are listed on the TSX Venture exchange under the trading
Symbol ARD. Armada has 13,665,497 shares outstanding. 


Additional information relating to Armada Data Corporation is filed on SEDAR,
and can be viewed at www.sedar.com. 


This news release contains forward-looking information within the meaning of
Canadian securities laws, including statements relating to revenue, earnings,
customer demand, penetration and increases to market share and anticipated
growth. Forward-looking statements are based on estimates and assumptions made
by Armada in light of its experience and perception of historical trends,
current conditions and expected future developments, as well as other factors
Armada believes are appropriate. Many factors could cause the actual results of
Armada to differ materially from those expressed or implied by the
forward-looking statements, including, without limitation, reduced spending by
customers and risks relating to general economic conditions. Readers should not
place undue reliance on Armada's forward-looking statements. Armada undertakes
no obligation to update or revise any forward-looking information, except as
required by law.

Armada Data (TSXV:ARD)
Historical Stock Chart
From Apr 2024 to May 2024

Armada Data (TSXV:ARD)
Historical Stock Chart
From May 2023 to May 2024