0 million and was primarily for investment in the MCDL
, compared to $7.
0 million relates to contract services work with the balance relating to MCDL licensing.
As more of our NEXTMap data in Europe and the USA came available during the year, we were able to nearly double our MCDL revenues year-over-year," stated Brian Bullock, president & CEO of Intermap Technologies.
The increase resulted primarily from an increase in the costs of personnel in business development (including automotive), recreational-map-enabled GPS/PND applications, insurance risk assessment initiatives, sales, and marketing associated with the MCDL.
The majority of this increase is attributable to the costs of personnel in the areas of business development (including automotive), recreational map-enabled GPS applications, insurance risk assessment, sales, and marketing in support of the Company's MCDL data licensing.
Amortization expense of the MCDL database for the third quarter decreased to $1.
The increase is primarily attributable to personnel increases in the areas of business development, sales, and marketing in support of our MCDL
sales, and from the Company's automotive, GPS / PND (personal navigation device), and insurance risk assessment initiatives.
revenue during the fourth quarter of 2006 was primarily associated with preliminary sales of recently available NEXTMap[R] USA data.
During the third quarter of 2006, 89% of the MCDL revenues were associated with NEXTMap USA and 11% were associated with NEXTMap Britain.
Following the completion of NEXTMap California in July of 2005, an increasing amount of MCDL revenues are being derived from NEXTMap USA license sales.
Total MCDL revenue in the first nine months now exceeds MCDL revenues for all of 2005.
revenues are also anticipated to increase in the second half of the year, which should lead to an overall improvement in the Company's financial performance during 2006.