Welcome!

Microsoft Cloud Authors: Elizabeth White, Pat Romanski, Liz McMillan, Mihai Corbuleac, David Bermingham

News Feed Item

Zedi Announces Q3 Results; SilverJack and U.S. Market Growth Continues

CALGARY, ALBERTA -- (Marketwire) -- 11/15/12 -- Zedi Inc. (the "Company" or "Zedi") (TSX VENTURE:ZED) "Business fundamentals remained strong in Q3 2012 despite lower than anticipated revenues. We continue to experience growth in several of our key areas, especially in the US market and with credible reports saying that the US is experiencing extraordinary growth in the production of oil and gas, we are well positioned for continued penetration of that market. Coupled with the growing contribution to our revenue by oil related products and services and the year over year growth in our recurring revenue base, we are in a strong position to weather fluctuations that will happen in an industry that is cyclical. Our results for the quarter were primarily impacted by:1) a wetter than usual summer in our Canadian operations that limiting drilling and field activity and which was topped off by reduced capital spending on natural gas related projects by producers; 2) Hurricane Isaac causing disruption in our Southern US operations; and 3) a slower than anticipated take up rate on our SilverJack product in the US which we view as a timing issue only and we remain confident that SilverJack will do well in that market. With the unchanged natural gas price outlook, we continue to take steps to mitigate the industry-wide shifts that are happening, such as the number of gas wells being shut in, and are maintaining efforts on our acquisition activities, said Matthew Heffernan, Zedi President & CEO. "Subsequent to Q3, we have also announced the signing of PetroTiger as our first strategic partner and reseller in South America and I am pleased to announce that we have shipped our first products under that agreement. Additionally, in Q4 we launched Zedi Control Centre, a 7X24 fully manned service that is now available to both existing and new customers. This service was launched commercially after achieving excellent results on a number of customer pilots over the past 6 months which have resulted in all pilot customers subscribing to the service on a paid basis. So with these initiatives, and my comments earlier, I believe Zedi is in a good position for continued growth". The Q3 2012 financial statements and MD & A are filed on SEDAR and can be accessed at www.sedar.com or on the Company's website at www.zedi.ca.

Based on the factors described above:


--  Revenues for Q3 2012 were $22,849,000, a 3% drop over $23,563,000 in Q3
    2011 

--  EBITDA(1) results were $2,027,000 in Q3 2012, a 48% decrease from
    $3,893,000 reported in Q3 2011

--  Q3 2012 saw a small loss before taxation for of $173,000, compared to a
    profit before taxation of $2,144,000 in Q3 2011

--  Recurring revenue(1) covered 208% of operations expenses and 184% of
    total cash expenditures - continuing the upward trends established over
    the past three years on these metrics.

--  Zedi generated positive cash flow from operations of $1,253,000, up
    $1,741,000 from the $488,000 of cash used in operations in Q3 2011, with
    sustained strong working capital of $12,045,000

Zedi Inc. (TSX VENTURE:ZED) provides integrated services, applications, and technology to oil and gas producers to help efficiently manage their production operations. Having established a leadership position in our base market, we continue to grow globally by operating in 25 countries around the world. Our expertise helps producers increase revenue while reducing operating costs and ensuring regulatory compliance.

(1) EBITDA and recurring revenue are non-IFRS measures. EBITDA is earnings before interest, taxes, depreciation and amortization and is commonly used by industry to normalize non-operating factors that are included in net income and as a proxy for the cash generating potential of a business. Recurring revenue is determined by the company and compared to both operations and total cash expenditures as significant indicators of performance and sustainability. See section 9 of the Management Discussion and Analysis for further detail on both of these metrics.

Cautionary Statement Regarding Forward-Looking Information

Certain statements and information contained in this press release may constitute forward-looking information within the meaning of applicable Canadian securities legislation. Specifically, this press release contains statements regarding Zedi's growth expectations, diversification and acquisition activity, strategies, recurring revenue metrics and related expectations of sustainability. These statements are based on certain assumptions and analysis made by Zedi in light of its experience and its perception of historical trends, current market conditions and expected future market developments, as well as other factors it believes are appropriate in the circumstances. However, whether actual results, performance or achievements will conform to Zedi's expectations and predictions is subject to a number of known and unknown risks and uncertainties which could cause actual results to differ materially from Zedi's expectations. Consequently, all of the forward-looking information and statements made in this press release are qualified by this cautionary statement and there can be no assurance that the actual results or developments anticipated by Zedi will be realized or, even if substantially realized, that they will have the expected consequences to or effects on Zedi or its business or operations. Except as may be required by law, Zedi assumes no obligation to publicly update any such forward-looking information and statements, whether as a result of new information, future events, or otherwise.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in Embedded and IoT solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/Big Data, HPC and ...
18th Cloud Expo, taking place June 7-9, 2016, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises are using some...
SoftLayer operates a global cloud infrastructure platform built for Internet scale. With a global footprint of data centers and network points of presence, SoftLayer provides infrastructure as a service to leading-edge customers ranging from Web startups to global enterprises. SoftLayer's modular architecture, full-featured API, and sophisticated automation provide unparalleled performance and control. Its flexible unified platform seamlessly spans physical and virtual devices linked via a world...
SYS-CON Events announced today that BMC Software has been named "Siver Sponsor" of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. BMC is a global leader in innovative software solutions that help businesses transform into digital enterprises for the ultimate competitive advantage. BMC Digital Enterprise Management is a set of innovative IT solutions designed to make digital business fast, seamless, and optimized from mainframe to mo...
"What we see what happens when you have a completely networked society and the potential to now drive the value creation and the collaboration and the ecosystems that are possible when you start to be able to connect people and industries together in ways that have never been possible before," explained Esmeralda Swartz, VP of Marketing Enterprise & Cloud at Ericsson, in this SYS-CON.tv interview at @ThingsExpo, held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA.
Companies can harness IoT and predictive analytics to sustain business continuity; predict and manage site performance during emergencies; minimize expensive reactive maintenance; and forecast equipment and maintenance budgets and expenditures. Providing cost-effective, uninterrupted service is challenging, particularly for organizations with geographically dispersed operations.
Cloud computing delivers on-demand resources that provide businesses with flexibility and cost-savings. The challenge in moving workloads to the cloud has been the cost and complexity of ensuring the initial and ongoing security and regulatory (PCI, HIPAA, FFIEC) compliance across private and public clouds. Manual security compliance is slow, prone to human error, and represents over 50% of the cost of managing cloud applications. Determining how to automate cloud security compliance is critical...
The Internet of Things (IoT) is growing rapidly by extending current technologies, products and networks. By 2020, Cisco estimates there will be 50 billion connected devices. Gartner has forecast revenues of over $300 billion, just to IoT suppliers. Now is the time to figure out how you’ll make money – not just create innovative products. With hundreds of new products and companies jumping into the IoT fray every month, there’s no shortage of innovation. Despite this, McKinsey/VisionMobile data...
The IoTs will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, will demonstrate how to move beyond today's coding paradigm and share the must-have mindsets for removing complexity from the development proc...
SYS-CON Events announced today TechTarget has been named “Media Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. TechTarget is the Web’s leading destination for serious technology buyers researching and making enterprise technology decisions. Its extensive global networ...
SYS-CON Events announced today that MangoApps will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. MangoApps provides modern company intranets and team collaboration software, allowing workers to stay connected and productive from anywhere in the world and from any device. For more information, please visit https://www.mangoapps.com/.
SYS-CON Events announced today that IBM Cloud Data Services has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. IBM Cloud Data Services offers a portfolio of integrated, best-of-breed cloud data services for developers focused on mobile computing and analytics use cases.
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management...
The essence of data analysis involves setting up data pipelines that consist of several operations that are chained together – starting from data collection, data quality checks, data integration, data analysis and data visualization (including the setting up of interaction paths in that visualization). In our opinion, the challenges stem from the technology diversity at each stage of the data pipeline as well as the lack of process around the analysis.
SYS-CON Events announced today that Alert Logic, Inc., the leading provider of Security-as-a-Service solutions for the cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Alert Logic, Inc., provides Security-as-a-Service for on-premises, cloud, and hybrid infrastructures, delivering deep security insight and continuous protection for customers at a lower cost than traditional security solutions. Ful...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, wh...
In his session at 18th Cloud Expo, Bruce Swann, Senior Product Marketing Manager at Adobe, will discuss how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects). Bruce Swann has more than 15 years of experience working with digital marketing disciplines like web analytics, social med...
Designing IoT applications is complex, but deploying them in a scalable fashion is even more complex. A scalable, API first IaaS cloud is a good start, but in order to understand the various components specific to deploying IoT applications, one needs to understand the architecture of these applications and figure out how to scale these components independently. In his session at @ThingsExpo, Nara Rajagopalan is CEO of Accelerite, will discuss the fundamental architecture of IoT applications, ...
SYS-CON Events announced today that Tintri Inc., a leading producer of VM-aware storage (VAS) for virtualization and cloud environments, will exhibit at the 18th International CloudExpo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, New York, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that ContentMX, the marketing technology and services company with a singular mission to increase engagement and drive more conversations for enterprise, channel and SMB technology marketers, has been named “Sponsor & Exhibitor Lounge Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York City, New York. “CloudExpo is a great opportunity to start a conversation with new prospects, but what happens after the...