SOURCE: iLOOKABOUT Corp.

iLOOKABOUT Corp.

November 19, 2014 16:00 ET

iLOOKABOUT Corp. Announces Third Quarter Results

LONDON, ON--(Marketwired - November 19, 2014) - iLOOKABOUT Corp. (TSX VENTURE: ILA) ("iLOOKABOUT" or "the Company" or "ILA") announced today that the Company's unaudited condensed interim consolidated financial statements for the three and nine months ended September 30, 2014 and 2013, and the related Management's Discussion and Analysis are available at www.sedar.com and on the Company's website at www.ilookabout.com. 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.

The Company reported that revenue increased 66% to $1,754,000, and increased 55% to $4,275,000 for the three and nine months ended September 30, 2014 compared to the same periods in the prior year. These increases are primarily attributable to: the commencement of a multi-year services contract with a customer in respect of the provision of hosted application services to enable the delivery of geo-spatial and real property related data to the customer's end users within the real estate vertical; an increase in the sale of third party data to end customers; and, an increase in US based licensing of StreetScape imagery and of GeoViewPort.

The Company is pleased to report that comprehensive income of $182,000 was generated for the three months ended September 30, 2014 as compared to a comprehensive loss of $77,000 for the same period of the prior year. Comprehensive loss decreased from $576,000 to $497,000 for the nine months ended September 30, 2013 and 2014, respectively. These improvements are attributed to gross margin increases, but were offset significantly by increases in sales and business development related expense to support the core business and new product/service offerings being launched by the Company; increased regulatory, professional and insurance fees; and, increased share-based compensation expense in respect of director compensation.

About iLOOKABOUT

iLOOKABOUT is a visual and data intelligence company serving commercial enterprise in the real estate, insurance, municipal, utility, assessment and appraisal sectors in North America and Europe. iLOOKABOUT is a pioneer in visual and data intelligence with its StreetScape™ and Virtual Tour products. StreetScape is a visual and data intelligence product for the geo-spatial market, providing panoramic, comprehensive, street level perspective visual data, geo-coded with latitude and longitude coordinates for accuracy and supported by patented software processes and proprietary security and storage systems. The Company has also launched GeoViewPort™, a web-based Geographic Information System (GIS) application that enables the federation of additional value added data such as validated addresses, aerial imagery, property values, property attributes, etc. with StreetScape imagery. Headquartered in London, Ontario, Canada, 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.

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