NORTHCORE TECHNOLOGIES INC 
By 302 The East Mall, Suite 300
Toronto, ON M9B 6C7
Tel: 416 640-0400 / Fax: 416 640-0412 www.northcore.com
(TSX: NTI; OTCBB: NTLNF)
NORTHCORE REPORTS THIRD QUARTER 2012 FINANCIAL RESULTS
Toronto, Ontario - November 13, 2012 - Northcore Technologies Inc. (TSX: NTI; OTCBB: NTLNF), a global provider of asset management and social commerce solutions, announced today its interim financial results for the third quarter ended September 30, 2012. All figures are reported in Canadian dollars.
We reported consolidated revenues of $387,000 for the third quarter, representing an increase of
91 percent over the $203,000 reported in the same quarter of 2011. We also reported year-to- date consolidated revenues of $1,032,000, an increase of 80 percent over the $573,000 reported for the same period of 2011. The growth in revenues was attributed primarily to higher social commerce services revenues as a result of the acquisition of Envision Online Media Inc.
Revenues are comprised of application hosting activities provided to customers, the sale of software licenses, and the delivery of technology services, such as application and website development, software customization, content management and social commerce solutions.
We reported an Operational EBITDA loss for the third quarter of $416,000, an increase of eight percent over the Operational EBITDA loss of $386,000 reported for the third quarter of 2011. We reported year-to-date Operational EBITDA loss of $1,147,000, a slight improvement of four percent from the operational EBITDA loss of $1,198,000 reported for the same period of 2011. The increase in revenues contributed to the improvement in Operational EBITDA loss during the period.
Operational EBITDA is defined as the loss before interest, taxes, depreciation, stock-based compensation, non-cash and non-recurring items. The Company considers Operational EBITDA to be a meaningful performance measure as it provides an approximation of operating cash flows.
We reported a loss for the third quarter of $535,000 or $0.002 per share, basic and diluted, an improvement of 35 percent from the loss of $820,000 or $0.004, basic and diluted, for the same period of 2011. We also reported year-to-date of $1,826,000 or $0.008 per share, basic and diluted, an improvement of 44 percent from the loss of $3,274,000 or $0.017 per share, basic and diluted, reported in the same period of 2011.
As at September 30, 2012, Northcore held cash and short-term investments of $308,000 and accounts receivable of $211,000.
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Northcore Reports Q3 2012 Results
Operating Highlights
We accomplished the following activities in the period:
