MISSISSAUGA - Armada Data Corporation (TSXV: ARD) reports its interim financial results for the quarter ended February 29, 2020 have now been filed on SEDAR and are available to view on SEDAR at www.sedar.com and the company's web site www.armadadata.com.
The Company's total revenue increased 28% in the three months ended February 29, 2020 to $922,113 from $718,174 in the same period a year earlier. Comprehensive income increased to $56,904 in this quarter, from $1,617 at February 28, 2019.
The Insurance Services division experienced a 14% increase in revenue, from $416,835 in the three months ended February 28, 2019 to $473,925 in 2020.
The CarCostCanada division (combining the former Retail, Dealer and Advertising divisions) revenue was up by 55% for the period ended February 29, 2020, to $376,769 from $243,101 during the period ended February 28, 2019.
The Information Technology division revenue increased by 23% to $71,419 in the third quarter of fiscal 2020 ended February 29, 2020, from $58,238 in the same quarter in fiscal 2019. IT continues to offer technical support and web site hosting to hundreds of customers, and is developing new customer relationships on a regular basis, as well as offering new services for sale.
Expenses in this third quarter of fiscal 2020 before amortization, interest and stock-based compensation, increased to $825,311, compared to $693,915, a 19% increase over the same period last year.
Accounts receivable increased 19% to $648,420 as at February 29, 2020, compared to $543,776 as at February 28, 2019. Related party accounts receivable increased from $5,579 to $12,835.
Accounts payable increased 43%, to $382,332 as at February 29, 2020 from $266,556 a year earlier. There was $8,442 in Related parties accounts payable as at February 29, 2020 and $2,881 as at February 28, 2019.
The Company's deficit decreased to $(734,435) as at February 29, 2020, compared to $(870,511) as at February 28, 2019. Earnings per share at February 29, 2020 are $0.00, versus $0.00 at February 28, 2019.
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 Data shares are listed on the TSX Venture exchange under the trading Symbol ARD. Armada currently has a total of 17,670,265 shares outstanding.
Contact:
Mr. R. James Matthews
Email: investors@armadadata.com
ARMADA DATA CORPORATION 
