Welcome!

Microsoft Cloud Authors: Jayaram Krishnaswamy, Yung Chou, David Bermingham, Dana Gardner, Pat Romanski

News Feed Item

ODESIA Reports 26% Increase in Revenue

MONTREAL, QUEBEC -- (Marketwire) -- 11/16/12 -- ODESIA Group Inc. ("ODESIA" or "the Company") (TSX VENTURE:ODS), an international corporation specialized in Enterprise IT solutions, is pleased to announce its 2012 third quarter revenue of $3,038,000, a $631,000 (26%) increase from the same period in 2011.

Q3 results have been fuelled by the successful completion of a new acquisition, integration efforts and management additions. "Our strategic and development plan announced in late 2011 is generating significant growth and is confirming progress in our quest for continued growth and profitability" stated President and CEO, Nicolas Bonnafous.

Highlights for the third quarter ended September 30, 2012:


--  The Company now operates on an annualized revenue run rate of
    approximately $16,000,000 (FY2011 revenues were $10,134,000) 
--  Increase of $631,000 or 26% in revenue; from $2,407,000 in Q3 2011 to
    $3,038,000 in Q3 2012; 
--  Gross profit of $926,000; compared to 868,000 in Q3 2011; 
--  Increase in sales & marketing effort, now represents 12% of revenues
    compared to 8% in Q3 2011; 
--  Net loss of $286,000 compared to net earnings of $86,000 in Q3 2011; 
--  Acquisition of Gestion Passerelle Inc.'s completed in mid-September
    2012. This acquisition was immediately accretive to earnings and
    actually operates on an annual revenue rate of $3,000,000; 
--  Significant operational and integration developments post the
    Interfacing and Passerelle acquisitions; 
--  Increased total equity attributable to the shareholders of ODESIA by
    $1,178,000 since December 2011. 

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) 
                                  2012        2011        2012         2011 
----------------------------------------------------------------------------
Revenue                          3,038       2,407       9,000        7,177 
Gross profit                       926         868       2,762        2,278 
Operating profit (loss)           (259)        167        (327)         216 
Net earnings (loss)               (286)         86        (443)         (62)
Basic and diluted net                                                       
 earnings (loss) per share                                                  
 attributable to                                                            
 shareholders of ODESIA                                                     
 Group Inc.                                                                 
  From continuing                                                           
   operations                   (0.008)      0.002      (0.014)      (0.001)
  From discontinued                                                         
   operations                        -      (0.000)          -       (0.002)
                           -------------------------------------------------
                                (0.008)      0.002      (0.014)      (0.003)

Statement of financial position


($000's)                                        September 30,   December 31,
                                                         2012           2011
                                                  (unaudited)      (audited)
----------------------------------------------------------------------------
Total assets                                            8,141          4,119
Convertible debentures and long-term debt                                   
 including short-term portions                          1,886            565

Growth Outlook

The ODESIA senior leadership and operational management team strives to advance new corporate development initiatives to insure continuous organic growth and is also dedicated to delivering ongoing results by identifying new acquisition opportunities. Our team strives to develop the Company into a competitive global player in the Enterprise IT Service and Software industry, while specializing in delivering a variety of high value Business Intelligence, Process Management and Analytics solutions.

Additional information on the third quarter ended September 30, 2012

The financial information regarding the third quarter ended September 30, 2012 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 as well as the company's website www.odesia.com.

About ODESIA

ODESIA Group Inc. is a global technology solutions provider serving enterprise level Fortune 500 companies in the financial services, media, and telecommunications and manufacturing industries. ODESIA's mission is to empower enterprise level companies with the ability to improve the efficiency of operations, enhance process performance, productivity and profitability, and make better overall business decisions by implementing solutions that present the right information, at the right time, and the right place. ODESIA specializes in Business Intelligence Services, IT Staffing and Training, BPM Software distribution and Big Data Analytics, is in the process of an assertive repositioning strategy to develop into a global player in the Enterprise IT Service and Software industry.

ODESIA is listed on the Toronto Venture exchange under the symbol "ODS"

For a copy of the latest company presentation, and brochure, please visit us at www.odesia.com. As the senior executive and general management continue the acquisition integration process, please visit a) www.passerelle.ca and b) www.interfacing.ca for more information on ODESIA's newest subsidiaries.

Disclaimer in regards to forward-looking statements

This press release may contain assumptions, estimates, and other forward-looking statements which reflect ODESIA's current expectationsregarding future events and may involve risks or uncertainties. Such forward-looking statements involve inherent risks and uncertainties and are subject to factors, many of which are beyond the Company's control that may cause actual results or performance to differ materially from those anticipated in such statements. Actual results could differ materially from those projected herein. Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors. The forward-looking information contained in this news release is expressly qualified by this cautionary statement. ODESIA does not undertake any obligation to update or revise any forward looking statements to conform such information to actual results or to changes in expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.

Neither the TSX Venture Exchange nor its Regulation Services Provider as that term is defined in the policies of the TSX Venture) 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
Cognitive Computing is becoming the foundation for a new generation of solutions that have the potential to transform business. Unlike traditional approaches to building solutions, a cognitive computing approach allows the data to help determine the way applications are designed. This contrasts with conventional software development that begins with defining logic based on the current way a business operates. In her session at 18th Cloud Expo, Judith S. Hurwitz, President and CEO of Hurwitz & ...
With an estimated 50 billion devices connected to the Internet by 2020, several industries will begin to expand their capabilities for retaining end point data at the edge to better utilize the range of data types and sheer volume of M2M data generated by the Internet of Things. In his session at @ThingsExpo, Don DeLoach, CEO and President of Infobright, will discuss the infrastructures businesses will need to implement to handle this explosion of data by providing specific use cases for filte...
SYS-CON Events announced today that VAI, a leading ERP software provider, 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. VAI (Vormittag Associates, Inc.) is a leading independent mid-market ERP software developer renowned for its flexible solutions and ability to automate critical business functions for the distribution, manufacturing, specialty retail and service sectors. An IBM Premier Business Part...
Fortunately, meaningful and tangible business cases for IoT are plentiful in a broad array of industries and vertical markets. These range from simple warranty cost reduction for capital intensive assets, to minimizing downtime for vital business tools, to creating feedback loops improving product design, to improving and enhancing enterprise customer experiences. All of these business cases, which will be briefly explored in this session, hinge on cost effectively extracting relevant data from ...
SYS-CON Events announced today that Men & Mice, the leading global provider of DNS, DHCP and IP address management overlay 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. The Men & Mice Suite overlay solution is already known for its powerful application in heterogeneous operating environments, enabling enterprises to scale without fuss. Building on a solid range of diverse platform support,...
As enterprises work to take advantage of Big Data technologies, they frequently become distracted by product-level decisions. In most new Big Data builds this approach is completely counter-productive: it presupposes tools that may not be a fit for development teams, forces IT to take on the burden of evaluating and maintaining unfamiliar technology, and represents a major up-front expense. In his session at @BigDataExpo at @ThingsExpo, Andrew Warfield, CTO and Co-Founder of Coho Data, will dis...
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies adopt disruptive technologies to optimize revenue-generating systems, has been named “Bronze 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. Founded in 1997, Pythian is a global IT services company that helps companies compete by adopting disruptive technologies such as cloud, Big Data, advanced analytics, and DevO...
SYS-CON Events announced today that iDevices®, the preeminent brand in the connected home industry, 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. iDevices, the preeminent brand in the connected home industry, has a growing line of HomeKit-enabled products available at the largest retailers worldwide. Through the “Designed with iDevices” co-development program and its custom-built IoT Cloud Infrastruc...
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...
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze 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. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 ad...
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...
Eighty percent of a data scientist’s time is spent gathering and cleaning up data, and 80% of all data is unstructured and almost never analyzed. Cognitive computing, in combination with Big Data, is changing the equation by creating data reservoirs and using natural language processing to enable analysis of unstructured data sources. This is impacting every aspect of the analytics profession from how data is mined (and by whom) to how it is delivered. This is not some futuristic vision: it's ha...
With the Apple Watch making its way onto wrists all over the world, it’s only a matter of time before it becomes a staple in the workplace. In fact, Forrester reported that 68 percent of technology and business decision-makers characterize wearables as a top priority for 2015. Recognizing their business value early on, FinancialForce.com was the first to bring ERP to wearables, helping streamline communication across front and back office functions. In his session at @ThingsExpo, Kevin Roberts...
One of the bewildering things about DevOps is integrating the massive toolchain including the dozens of new tools that seem to crop up every year. Part of DevOps is Continuous Delivery and having a complex toolchain can add additional integration and setup to your developer environment. In his session at @DevOpsSummit at 18th Cloud Expo, Miko Matsumura, Chief Marketing Officer of Gradle Inc., will discuss which tools to use in a developer stack, how to provision the toolchain to minimize onboa...
The cloud promises new levels of agility and cost-savings for Big Data, data warehousing and analytics. But it’s challenging to understand all the options – from IaaS and PaaS to newer services like HaaS (Hadoop as a Service) and BDaaS (Big Data as a Service). In her session at @BigDataExpo at @ThingsExpo, Hannah Smalltree, a director at Cazena, will provide an educational overview of emerging “as-a-service” options for Big Data in the cloud. This is critical background for IT and data profes...
Silver Spring Networks, Inc. (NYSE: SSNI) extended its Internet of Things technology platform with performance enhancements to Gen5 – its fifth generation critical infrastructure networking platform. Already delivering nearly 23 million devices on five continents as one of the leading networking providers in the market, Silver Spring announced it is doubling the maximum speed of its Gen5 network to up to 2.4 Mbps, increasing computational performance by 10x, supporting simultaneous mesh communic...
SYS-CON Events announced today that Fusion, a leading provider of cloud services, 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. Fusion, a leading provider of integrated cloud solutions to small, medium and large businesses, is the industry's single source for the cloud. Fusion's advanced, proprietary cloud service platform enables the integration of leading edge solutions in the cloud, including clou...
Most people haven’t heard the word, “gamification,” even though they probably, and perhaps unwittingly, participate in it every day. Gamification is “the process of adding games or game-like elements to something (as a task) so as to encourage participation.” Further, gamification is about bringing game mechanics – rules, constructs, processes, and methods – into the real world in an effort to engage people. In his session at @ThingsExpo, Robert Endo, owner and engagement manager of Intrepid D...
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.
Learn how IoT, cloud, social networks and last but not least, humans, can be integrated into a seamless integration of cooperative organisms both cybernetic and biological. This has been enabled by recent advances in IoT device capabilities, messaging frameworks, presence and collaboration services, where devices can share information and make independent and human assisted decisions based upon social status from other entities. In his session at @ThingsExpo, Michael Heydt, founder of Seamless...