MISSISSAUGA - Armada Data Corporation (TSV.V: ARD) reports its interim financial results for the quarter ended November 30, 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.
Operations
The Company's total revenue decreased 18% in the period ended November 30, 2020 to $797,470 from $974,475 in the same period a year earlier. Comprehensive income decreased to $7,507 in this quarter, a decrease of 91% from $81,648 at November30, 2019.
The Insurance Services division experienced a 12% decrease in revenue, from $456,700 in the three months ended November 30, 2019 to $403,275 in 2020.
The CarCostCanada division (combining the former Retail, Dealer and Advertising divisions) revenue was down by 27% for the period ended November 30, 2020, to $335,442 from $459,938 during the period ended November 30, 2019.
The Information Technology division revenue increased by 2% to $58,753 in the second quarter of fiscal 2021 ended November 30, 2020, from $57,837 in the same quarter in fiscal 2020. 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.
Wages and other office expenses in this second quarter of fiscal 2021 before amortization and interest, decreased to $766,079, compared to $852,614, a 10% decrease over the same period last year.
Accounts receivable increased 3% to $544,305 as at November 30, 2020, compared to $527,047 as at November 30, 2019. Related party accounts receivable increased from $5,670 to $26,323.
Accounts payable decreased 7%, to $323,311 as at November 30, 2020 from $348,768 a year earlier. There was $23,108 Related parties accounts payable as at November 30, 2020 and $6,143 as at November 30, 2019.
The Company's deficit decreased to $(686,915) as at November 30, 2020, compared to $(791,341) as at November 30, 2019. Earnings per share at November 30, 2020 are $0.00, compared to $0.01 reported November 30, 2019.
Outlook
COVID-19 emerged in December 2019 and subsequently spread worldwide, leading to the World Health Organization's declaration of a COVID-19 pandemic on March 11, 2020. To date, Canadian federal and provincial governments and businesses have mandated various measures, including: travel restrictions, restrictions on public gatherings, stay-at-home orders and advisories, and the quarantine of people who may have been exposed to the virus. The Company has and will continue to follow all federal and provincial guidelines mandated to combat this pandemic.
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 
