NORTHCORE TECHNOLOGIES INC 
By 302 The East Mall, Suite 300
Toronto, ON M9B 6C7
Tel: 416 640-0400 / Fax: 416 640-0412 www.northcore.com
(TSX: NTI; OTCBB: NTLNF)
NORTHCORE REPORTS FIRST QUARTER 2012 FINANCIAL RESULTS
Toronto, Ontario - May 14, 2012 - Northcore Technologies Inc.
(TSX: NTI; OTCBB: NTLNF), a global provider of asset ma
nagement and social commerce solutions, reported today its
interim fina ncial results for the first quarter ended March
31, 2012. All figures are reported in Canadian dollars.
Northcore reported consolidated revenues of $230,000 for the
first quarter, representing an increase of eight percent over
the $212,000 reported in the fourth quarter of 2011 and an
increase of 26 perce nt over the $183,000 reported in the
same period of 2011. The growth in re venues was attributed
primarily to the increase in services revenues in connection
with the implementation of social commerce solutions for
clients.
Northcore reported an Operational EBITDA loss for the first
quarter of $356,000, representing an improveme nt of four
perce nt from the Operational EBITDA loss of $369,000
reported in the fourth quarter of 2011. In the same period of
2011, Northcore reported an Operational EBITDA loss of
$404,000. The improveme nt in Operational EBITDA loss was
attributed primarily to the increase in reve nues.
For the quarter and year ended March 31, 2012, Northcore
reported a net loss per share of
$0.003, basic a nd diluted, consistent with the net loss per
share of $0.003, basic and diluted, reported in the same
period of 2011.
As at March 31, 2012, Northcore held cash and cash equivale
nts of $1,520,000 and accounts receivable of $288,000.
Northcore accomplished the following activities in the
period:
