iLOOKABOUT Announces Results for the Year Ended December 31, 2018
April 30 2019 - 5:10PM
iLOOKABOUT Corp. (TSXV:ILA) (“iLOOKABOUT” or “the Company”) today
announced that its Audited Consolidated Financial Statements for
the year ended December 31, 2018, and the related Management’s
Discussion and Analysis (“MD&A”) are available at www.sedar.com
and on the Company’s website at
http://www.ilookabout.com/investor-relations/financial-information.
Shareholders may request a hard copy of this material by directing
their request to: iLOOKABOUT Corp., Office of the CFO, 408-383
Richmond Street, London ON, N6A 3C4
“2018 was a year of material investment by the
Company in both internal and external initiatives that we are
confident position us well for meaningful future growth,” stated
Mr. Gary Yeoman, Chair and CEO of iLOOKABOUT, “We are now poised to
transform the Company and we look forward to realizing the early
benefits of our investments in 2019.”
Highlights of Financial Results:
Discussion with respect to the above noted
results can be found in the Company’s MD&A.
|
Three months ended December 31 |
|
Year ended December 31 |
|
|
2018 |
|
20171 |
|
|
|
2018 |
|
|
20171 |
|
|
|
|
|
|
|
Revenue |
$ |
2,271,000 |
$ |
2,337,000 |
|
|
$ |
9,212,000 |
|
$ |
9,167,000 |
|
Comprehensive income (loss) |
|
397,000 |
|
(140,000 |
) |
|
|
(397,000 |
) |
|
(174,000 |
) |
Adjusted
EBITDA, Unaudited2 |
|
351,000 |
|
505,000 |
|
|
|
1,073,000 |
|
|
1,135,000 |
|
1Restated for the impact of adoption of IFRS
15.
2Adjusted EBITDA is an unaudited non-GAAP
measure and does not have any standardized meaning prescribed under
IFRS and, therefore, may not be comparable to similar measures
employed by other reporting issuers. Management believes
Adjusted EBITDA provides meaningful information with respect to the
financial performance and value of the Company, as items that may
obscure the underlying trends in the business performance are
excluded. The Company defines and calculates Adjusted EBITDA
as earnings (loss) before interest, taxes,
depreciation/amortization of equipment and intangible assets,
share-based compensation expense and other costs or income that
are: (i) non-operating; (ii) non-recurring; and/or related to
strategic initiatives. The Company classifies income or costs
as non-recurring if income or costs similar in nature are not
reasonably expected to occur within the next two years nor have
occurred during the prior two years, and such costs are
significant.
Prior to the fourth quarter of 2018, the Company
defined and calculated Adjusted EBITDA as comprehensive income
(loss) before interest, taxes, depreciation/amortization of
equipment and intangible assets, share-based compensation expense
and other costs or income that are of a non-operating and/or
non-recurring nature. Quantification of this change can be
found in the Company’s MD&A.
About iLOOKABOUTiLOOKABOUT is a software, data
analytics, data aggregation and visual intelligence company focused
on real property. The Company primarily serves the property
assessment, property taxation, municipal, insurance, and appraisal
sectors, both public and private, in North America. iLOOKABOUT
provides powerful data analytics to the real estate industry
through its Real Property Tax Analytics software offering. The
Company’s proprietary StreetScapeTM imagery and real property
focused web-based application, GeoViewPort™, unifies property
related data and enables desktop review of properties. iLOOKABOUT
has integrated analytics and workflow management applications into
GeoViewPortTM which create highly valued service offerings for its
clients. To augment its technology-based offerings, the Company
provides real estate consulting services, with a focus on the
Property Tax and Valuation sectors.
iLOOKABOUT’s common shares are traded on the TSX Venture
Exchange under the symbol ILA.
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.
Contact: Gary
Yeoman,
CEOgary.yeoman@ilookabout.com416-347-7707www.ilookabout.com
Robin Dyson,
CFOrobin.dyson@ilookabout.com519-931-6235www.ilookabout.com
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