CRYSTAL RIVER, Fla.,
June 12, 2015 /PRNewswire/
-- B-Scada (OTC: SCDA) reports Q2 results as filed with the
SEC (for details, please visit http://www.sec.gov/). Revenue for
the six months ending April 30, 2015
was $1,000,194, up from $843,546 for the same period in 2014. While the
first quarter improved over the previous year, downward pressure on
revenue is occurring as a result of the low price of crude oil.
B-Scada customers involved in the oil and gas industry have
drastically reduced consulting service contracts with the company.
On a positive note, the Spanish subsidiary of B-Scada is now
contributing revenue and is operating at break-even, offsetting
some of the loss seen from the petrochemical sector. Continued
downward pressure from petrochemical is expected to continue into
early 2016.
Management Commentary:
"Our strategy for this fiscal year continues to focus on
increased marketing activities growing our brand awareness and
presence which will result in losses for the year. We expect to
return to profitability in the next fiscal year.
"Status Enterprise pilot projects continue, but have not
generated expected revenues. Status Enterprise sales to date have
been smaller pilot deployments which have not yet translated into
additional licenses.
Our newly launched low cost sensors are already producing
revenue. Sales include two sales to Africa for monitoring of commercial hotels
solar panels on commercial buildings. Monitoring of these
deployments will be done on a subscription basis using the B-Scada
VoT Platform.
"Our IoT system has been impressive since launching in the
spring. We have partnered with several sensor manufacturers to
allow their sensor data to be used within the VoT Platform. Some
are working on bundles including sensor hardware and B-Scada
software. We are in negotiations to have our IoT Platform promoted
by two significant cellular carriers. We have equipment
manufacturers evaluating the system to be used as a monitoring
solution to be white labeled and distributed with their equipment.
Other opportunities with partner companies include water/waste
water, smart cities and data centers.
"Our outlook for fiscal 2015 will be for lower than expected
revenues for the last two quarters due primarily to the slow-down
in the petrochemical sector, and the slow uptake of additional
Status Enterprise licenses. We are however extremely optimistic for
fiscal 2016, expecting growth in our Spanish Subsidiary, sensor
sales and IoT platform. We also expect Status Enterprise licenses
to increase and are seeing demand for training growing.
"We would like to thank our shareholders for their continuing
support."
B-Scada PR Contact
Corporate Communications
B-Scada, Inc.
corporatecommunications@b-scada.com
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SOURCE B-Scada, Inc.
