ODESIA Announces Continued Progress With its 2013 Third Quarter Results
29 Noviembre 2013 - 7:00AM
Marketwired
ODESIA Announces Continued Progress With its 2013 Third Quarter
Results
MONTREAL, QUEBEC--(Marketwired - Nov 29, 2013) - ODESIA Group
Inc. ("ODESIA" or the "Company") (TSX-VENTURE:ODS), a Canadian
Information Technology consulting and solutions company,
specialized in Business Intelligence ("BI"), Business Process
Management ("BPM") and Big Data Analytics is pleased to announce
continued progress with its 2013 third quarter results.
"Q3 was a solid quarter with good margins and a continued focus
on reducing operational costs" said Nicolas Bonnafous, Chief
Executive Officer of ODESIA.
To access the financial results and MD&A - click here
Third Quarter Key Highlights
- New contracts wins, lead to a forecasted growth of ODESIA's
core business (BI Consulting) in the upcoming quarter;
- ODESIA continued to deliver on its rationalization program with
favorable impact on results;
- Continuous focus on strengthening the balance sheet led to the
reduction of the Company's debt following the conversion of a
portion of the convertible debentures into shares;
- Improved working capital ratio following the renegotiation of
the remainder of the convertible debentures on a long-term
basis.
Third Quarter Financial Highlights
- Revenue of $3,349,000, an increase of $311,000 or 10% compared
to Q3 2012;
- Gross profit of 27% or $914,000 compared to 30% or $917,000 in
Q3 2012;
- Reduction of operating loss from $259,000 in Q3 2102 to $35,000
in Q3 2013;
- Reduction of net loss from $292,000 in Q3 2012 to $156,000 in
Q3 2013.
Selected financial information
Income statement
|
($000's except per share amounts) |
For the three-month period ended September 30,
(unaudited) |
|
For the nine-month period ended September 30,
(unaudited) |
|
|
|
2013 |
|
2012 |
|
2013 |
|
2012 |
|
|
Revenue |
3,349 |
|
3,038 |
|
10,419 |
|
9,000 |
|
|
Gross profit |
914 |
|
917 |
|
2,560 |
|
2,748 |
|
|
Operating loss |
(35 |
) |
(259 |
) |
(611 |
) |
(327 |
) |
|
Net loss |
(156 |
) |
(292 |
) |
(929 |
) |
(449 |
) |
|
Basic and diluted net loss per share attributable to shareholders
of ODESIA Group Inc. |
(0.004 |
) |
(0.008 |
) |
(0.024 |
) |
(0.015 |
) |
Statement of financial position
|
($000's) |
September 30, 2013 (unaudited) |
December 31, 2012 (audited) |
|
Total assets |
7,400 |
7,384 |
|
Convertible debentures and long-term debt including short-term
portions |
1,679 |
1,858 |
Additional information on the third quarter ended September 30,
2013
The financial information regarding the third quarter ended
September 30, 2013 should be read in parallel with the Company's
consolidated financial statements and MD&A (Management
Discussion and Analysis). These documents can be found on
www.sedar.com
About ODESIA
Founded in 1998, ODESIA Group Inc. is a Canadian Information
Technology (IT) consulting and solutions company headquartered in
Montreal. ODESIA offers solutions in Business Intelligence,
Business Process Management and Big Data Analytics. ODESIA's
mission is to help its clients improve operations efficiency,
enhance process performance and make better business decisions by
mastering the right information at the right time and the right
place. Website: www.odesia.com
ODESIA is listed on the Toronto Venture exchange under the
symbol "ODS".
Disclaimer in regards to forward-looking statements
This press release contains forward-looking statements which
reflect ODESIA's current expectations regarding future events and
may involve risks or uncertainties. Actual results could differ
materially from those projected herein.
Neither the 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.
ODESIA Group Inc.Mr. Nicolas BonnafousPresident &
CEO514.876.1155nbonnafous@odesia.com
Odesia Group Inc. (TSXV:ODS)
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