TORONTO, April 30, 2019 (GLOBE NEWSWIRE) -- 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|
|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.
iLOOKABOUT 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.