Airborne Data Collection NSDI Mapping Started

According to Todd Oseth, president and CEO of Intermap, the first stage of this large project has already been completed, including planning, field preparation, and subcontract support. The preliminary work included in the first stage resulted in revenue recognition for approximately forty percent of the contract value over the past six months. "We expect the airborne collection portion of the contract will allow us to recognise revenue for the majority of the remaining contract value and associated cash flow over the next two to three months. We're happy to see the progress on this contract as we look forward to the future availability of our personnel and aircraft to perform additional mapping services contracts during the fourth quarter of this year."

In addition to the progress reported above on the NSDI program, Intermap also announced that it has received several contracts over the past month for the sale of its NEXTMap data and related services totalling more than USD3 million. Revenue will be recognised on these contracts beginning with immediate deliveries and subsequent deliveries are scheduled to occur over the next two to three months.