ODESIA Announces Continued Progress With its 2013 Third Quarter Results
29 November 2013 - 1:00PM
Marketwired Canada
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
For the three-month For the nine-month
period period
($000's except per share ended September 30, ended September 30,
amounts) (unaudited) (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
September 30, 2013 December 31, 2012
($000's) (unaudited) (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.
FOR FURTHER INFORMATION PLEASE CONTACT:
ODESIA Group Inc.
Mr. Nicolas Bonnafous
President & CEO
514.876.1155
nbonnafous@odesia.com
Odesia Group Inc. (TSXV:ODS)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Odesia Group Inc. (TSXV:ODS)
Historical Stock Chart
Von Jul 2023 bis Jul 2024
Echtzeit-Nachrichten über (TSX Venture Börse): 0 Nachrichtenartikel
Weitere ODESIA Group Inc. News-Artikel