DATAMAP, INC. ANNOUNCES YEAR-END RESULTS
DATAMAP, INC. ANNOUNCES YEAR-END RESULTS MINNEAPOLIS, Oct. 13 /PRNewswire/ -- DataMap, Inc.
(OTC Bulletin Board: DTMP) today announced results for the fiscal year ended June 30, 1992. Net sales for the year ended June 30, 1992 were $180,341 compared to $172,727 reported one year ago. Net loss for the year was $1,744,251, or $.38 per share, compared to a net loss of $1,668,488, or $.44 per share, reported last year.
Net loss for fiscal 1992 approximated the net losses in fiscal years 1991, 1990, and 1989, during which time DataMap was developing the Geographic Underwriting System (GUS(R)) for the property and casualty industry. In May of fiscal 1992 the GUS system was approved for use by insurance companies in selected counties in Florida and in October GUS was released to the entire state. DataMap and Insurance Services Office (ISO) recently signed a 15-year agreement to offer the system to insurers nationwide. DataMap, Inc., based in Eden-Prairie, Minn., specializes in digital geographic databases, mapping services, and related applications software. The company's common stock is traded over-the-counter in Minneapolis/St. Paul . Year Ended June 30 1992 1991 Net Sales $180,341 $172,727 Gross Profit 108,208 118,338 Operating loss (1,559,902) (1,673,292) Other Income (Expense) (184,349) (253,137) Loss before extraordinary item (1,744,251) (1,926,429) Extraordinary item: Debt forgiveness -- 257,941 Net Loss ($1,744,251) ($1,668,488) Net Loss Per Share Loss before extraordinary item ($0.38) ($0.51) Extraordinary item -- 0.07 Loss after extraordinary item ($0.38) ($0.44) Weighted average common shares outstanding 4,561,226 3,757,904 -0- 10/13/92 /CONTACT: James E. Hovis (Chairman and CEO) or Gary S. Mertz (President), Datamap, Inc., 612-934-0900; or Tom de Petra of de Petra & Associates, Inc., 612-338-7630 for DataMap, Inc./ (DTMP) CO: DataMap, Inc. ST: Minnesota IN: CPR SU: ERN
KH -- MN006 -- 9190 10/13/92 09:56 EDT
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|Date:||Oct 13, 1992|
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