Welcome!

Microsoft Cloud Authors: Pat Romanski, Liz McMillan, Lori MacVittie, Elizabeth White, Yeshim Deniz

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.

Contacts:
ODESIA Group Inc.
Mr. Nicolas Bonnafous
CEO
Tel. 514.876.1155
Email [email protected]

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.

IoT & Smart Cities Stories
Bill Schmarzo, Tech Chair of "Big Data | Analytics" of upcoming CloudEXPO | DXWorldEXPO New York (November 12-13, 2018, New York City) today announced the outline and schedule of the track. "The track has been designed in experience/degree order," said Schmarzo. "So, that folks who attend the entire track can leave the conference with some of the skills necessary to get their work done when they get back to their offices. It actually ties back to some work that I'm doing at the University of ...
DXWorldEXPO LLC, the producer of the world's most influential technology conferences and trade shows has announced the 22nd International CloudEXPO | DXWorldEXPO "Early Bird Registration" is now open. Register for Full Conference "Gold Pass" ▸ Here (Expo Hall ▸ Here)
CloudEXPO New York 2018, colocated with DXWorldEXPO New York 2018 will be held November 11-13, 2018, in New York City and will bring together Cloud Computing, FinTech and Blockchain, Digital Transformation, Big Data, Internet of Things, DevOps, AI, Machine Learning and WebRTC to one location.
The Internet of Things 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 and how we integrate our thinking to solve complicated problems. In his session at 19th Cloud Expo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and sh...
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
@DevOpsSummit at Cloud Expo, taking place November 12-13 in New York City, NY, is co-located with 22nd international CloudEXPO | first international DXWorldEXPO and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time t...
What are the new priorities for the connected business? First: businesses need to think differently about the types of connections they will need to make – these span well beyond the traditional app to app into more modern forms of integration including SaaS integrations, mobile integrations, APIs, device integration and Big Data integration. It’s important these are unified together vs. doing them all piecemeal. Second, these types of connections need to be simple to design, adapt and configure...
Cell networks have the advantage of long-range communications, reaching an estimated 90% of the world. But cell networks such as 2G, 3G and LTE consume lots of power and were designed for connecting people. They are not optimized for low- or battery-powered devices or for IoT applications with infrequently transmitted data. Cell IoT modules that support narrow-band IoT and 4G cell networks will enable cell connectivity, device management, and app enablement for low-power wide-area network IoT. B...
Contextual Analytics of various threat data provides a deeper understanding of a given threat and enables identification of unknown threat vectors. In his session at @ThingsExpo, David Dufour, Head of Security Architecture, IoT, Webroot, Inc., discussed how through the use of Big Data analytics and deep data correlation across different threat types, it is possible to gain a better understanding of where, how and to what level of danger a malicious actor poses to an organization, and to determin...
Nicolas Fierro is CEO of MIMIR Blockchain Solutions. He is a programmer, technologist, and operations dev who has worked with Ethereum and blockchain since 2014. His knowledge in blockchain dates to when he performed dev ops services to the Ethereum Foundation as one the privileged few developers to work with the original core team in Switzerland.