Click here to close now.




















Welcome!

Microsoft Cloud Authors: Adine Deford, Elizabeth White, the Editor, Michael Krems, Xenia von Wedel

News Feed Item

Gendis Inc. Announces Third Quarter Results

WINNIPEG, MANITOBA -- (Marketwire) -- 12/10/12 -- Gendis Inc. (TSX:GDS) today announced its financial results for the 3rd quarter ended October 31, 2012 of the fiscal year ending January 31, 2013.

Revenue for the 3rd quarter was $1,431,000 compared to $1,419,000 for last year's 3rd quarter. Net loss for the 3rd quarter was $791,000 ($0.06 per share) compared to a profit of $3,015,000 ($0.21 per share) for last year's 3rd quarter.

Revenue year-to-date was $4,471,000 compared to $4,517,000 last year. Net loss year-to-date was $8,300,000 ($0.60 per share) compared to a loss of $671,000 ($0.05 per share) for last year.

Lease rental revenue increased marginally while investment income was essentially even quarter over quarter and year-to-date. The decrease in earnings is primarily due to the change in fair value for equity investments and investment properties quarter over quarter and year-to-date.

Condensed summarized information is as follows:


                                          quarter ended        year-to-date 
in millions of Canadian dollars        Oct 31    Oct 31    Oct 31    Oct 31 
except per share                         2012      2011      2012      2011 
----------------------------------------------------------------------------
Lease rental revenue                      0.9       0.9       3.0       3.0 
Investment income                         0.5       0.5       1.5       1.5 
Fair value change:                                                          
  Veresen                                 0.1       0.9      (4.4)      2.8 
  OSUM                                   (1.0)      0.5      (8.2)     (8.5)
  Other equity investments                0.1      (0.1)     (0.9)     (0.1)
  Investment properties                  (0.8)      1.6      (0.1)      1.8 
Expenses                                 (0.7)     (0.9)     (2.8)     (2.9)
Settlement of legal claims                  -         -       1.5         - 
Income tax recovery (expense)             0.1      (0.4)      2.1       1.7 
                                                                            
Net earnings (loss)                      (0.8)      3.0      (8.3)     (0.7)
                                                                            
Earnings (loss) per share             $ (0.06)  $  0.21   $ (0.60)  $ (0.05)
                                                                            
Fair value of investments:                                                  
  Veresen                                                    25.8      28.8 
  OSUM                                                       17.4      19.4 
  Other equity investments                                    1.8       0.1 
  Investment properties                                      27.9      26.9 
Other assets                                                  0.7       0.7 
                                                                            
Debt & payables                                               5.5      12.7 
Deferred tax payable                                          2.4       2.0 
                                                                            
Shareholders' equity                                         65.7      61.2 
                                                                            
                                             quarter ended      year-to-date
in millions of Canadian dollars            Oct 31   Oct 31   Oct 31   Oct 31
except per share                             2012     2011     2012     2011
----------------------------------------------------------------------------
Cash flow from:                                                             
  Operations                                                                
    Cash receipts                             1.6      1.9      4.7      4.7
    Cash disbursements                      (0.8)    (1.1)    (2.9)    (3.0)
    Finance expense                             -    (0.1)    (0.1)    (0.3)
    Settlement of legal claims                  -        -      1.5    (1.3)
    Income taxes                                -        -      0.7    (0.1)
  Investing                                                                 
    Proceeds on sales of investments            -        -      0.1        -
    Purchase of investments                     -        -    (2.7)        -
    Expenditures on investment properties   (0.5)        -    (0.5)        -
  Financing                                                                 
    Debt advance (reduction)                  0.1    (0.6)      0.3      0.4
    Purchase of share capital for                                           
     cancellation                           (0.1)        -    (0.1)        -
    Dividends                               (0.3)    (0.3)    (1.0)    (0.3)
                                                                            
                                                                            
GENDIS INC.                                                                 
CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION                           
(unaudited - thousands of Canadian                                          
 dollars)                                           Oct 31   Oct 31   Jan 31
                                              note    2012     2011     2012
----------------------------------------------------------------------------
ASSETS                                                                      
Current assets                                                              
  Cash                                                  10       86      142
  Receivables                                          710      574    1,464
----------------------------------------------------------------------------
Total current assets                                   720      660    1,606
----------------------------------------------------------------------------
Non current assets                                                          
  Equity investments                             2  44,930   48,280   55,813
  Investment property                               27,900   26,880   27,560
  Furnishings and equipment                             39       49       52
----------------------------------------------------------------------------
Total non current assets                            72,869   75,209   83,425
----------------------------------------------------------------------------
Total assets                                        73,589   75,869   85,031
----------------------------------------------------------------------------
                                                                            
LIABILITIES                                                                 
  Current liabilities                                                       
  Credit facilities                              3   3,897   11,395    3,600
  Payables                                             472      400      582
  Current income tax payable                           154        -        -
----------------------------------------------------------------------------
Total current liabilities                            4,523   11,795    4,182
----------------------------------------------------------------------------
Non current liabilities                                                     
  Post employment benefit obligation                   951      855      961
  Deferred income tax payable                        2,438    1,980    4,723
----------------------------------------------------------------------------
Total non current liabilities                        3,389    2,835    5,684
----------------------------------------------------------------------------
Total liabilities                                    7,912   14,630    9,866
----------------------------------------------------------------------------
SHAREHOLDERS' EQUITY                                65,677   61,239   75,165
----------------------------------------------------------------------------
Total liabilities and shareholders'                                         
 equity                                             73,589   75,869   85,031
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
GENDIS INC.                                                                 
CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME                         
FOR THE PERIODS ENDED OCTOBER 31                                            
(unaudited - thousands of Canadian dollars except for share data)           
                                                quarter        year-to-date 
                                          2012     2011       2012     2011 
----------------------------------------------------------------------------
Revenue                                                                     
Lease rentals                              931      912      2,959    2,990 
Dividends and other investment income      500      507      1,512    1,527 
----------------------------------------------------------------------------
  Total revenue                          1,431    1,419      4,471    4,517 
----------------------------------------------------------------------------
Expense                                                                     
  Property                                 370      396      1,413    1,456 
  Administration                           301      348      1,206    1,140 
  Finance                                   30      104        134      289 
----------------------------------------------------------------------------
Total expense                              701      848      2,753    2,885 
----------------------------------------------------------------------------
Fair value change                                                           
  Investment property                     (851)   1,602       (131)   1,827 
  Equity investments                      (807)   1,233    (13,503)  (5,869)
----------------------------------------------------------------------------
Total fair value change                 (1,658)   2,835    (13,634)  (4,042)
----------------------------------------------------------------------------
Settlement of legal claims                   -        -      1,483        - 
----------------------------------------------------------------------------
                                                                            
Earnings (loss) before income tax         (928)   3,406    (10,433)  (2,410)
Income tax (expense) recovery              137     (391)     2,133    1,739 
----------------------------------------------------------------------------
Net earnings (loss) from operations                                         
 and comprehensive income (loss)          (791)   3,015     (8,30 )    (671)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
Net earnings (loss) from operations                                         
 per share                            $  (0.06)  $ 0.21   $  (0.60) $(0.05 )
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
                                                                            
GENDIS INC.                                                                 
CONDENSED INTERIM STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY              
                                                                            
                                                 Share   Retained     Total 
(unaudited - thousands - shares &              Capital   Earnings           
Canadian dollars as applicable)             #        $          $         $ 
----------------------------------------------------------------------------
Balance - January 31, 2011             13,937   14,650     47,608    62,258 
Comprehensive loss to July 31, 2011                        (3,686)   (3,686)
----------------------------------------------------------------------------
Balance - July 31, 2011                13,937   14,650     43,922    58,572 
Comprehensive income for the                                                
quarter ended October 31, 2011                              3,015     3,015 
Dividend paid                                                (348)     (348)
----------------------------------------------------------------------------
Balance - October 31, 2011             13,937   14,650     46,589    61,239 
Comprehensive income for the                                                
 remainder of the year                                     17,759    17,759 
Dividends paid                                             (3,833)   (3,833)
----------------------------------------------------------------------------
Balance - January 31, 2012             13,937   14,650     60,515    75,165 
Comprehensive loss to July 31, 2012                        (7,509)   (7,509)
Purchase of share capital for                                               
 cancellation                              (6)      (6)       (13)      (19)
Dividends paid                                               (697)     (697)
----------------------------------------------------------------------------
Balance - July 31, 2012                13,931   14,644     52,296    66,940 
Comprehensive loss for the                                                  
quarter ended October 31, 2012                               (791)     (791)
Purchase of share capital for                                               
 cancellation                             (40)     (42)       (82)     (124)
Dividend paid                                                (348)     (348)
----------------------------------------------------------------------------
Balance - October 31, 2012             13,891   14,602     51,075    65,677 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
GENDIS INC.                                                                 
CONDENSED INTERIM STATEMENT OF CASH FLOWS                                   
FOR THE PERIODS ENDED OCTOBER 31                                            
                                                                            
                                                   quarter     year-to-date 
(unaudited - thousands of Canadian dollars)   2012    2011     2012    2011 
----------------------------------------------------------------------------
Changes in cash position                                                    
  By operations                                                             
    Cash receipts                            1,580   1,889    4,665   4,715 
    Cash disbursements                        (760) (1,042)  (2,868) (3,067)
Receipt (payment) on settlement of legal                                    
 claims                                          -       -    1,483  (1,250)
    Income taxes (paid) recovered                -       -      706     (74)
    Finance expense paid                       (28)   (102)    (135)   (290)
----------------------------------------------------------------------------
  Total by operations                          792     745    3,851      34 
----------------------------------------------------------------------------
  By investing activities                                                   
    Proceeds from sale of equity                                            
     investments                                 -       -      118       - 
    Acquisition of equity investments            -       -   (2,739)      - 
    Expenditures on investment property       (471)     (8)    (471)    (33)
    Proceeds on sale of equipment                -       3        -       3 
    Expenditures on furnishings and                                         
     equipment                                   -      (9)       -      (9)
----------------------------------------------------------------------------
  Total by investing activities               (471)    (14)  (3,092)    (39)
----------------------------------------------------------------------------
  By financing activities                                                   
    Net advance (repayment) of credit                                       
     facilities                                103    (587)     297     400 
    Purchase of share capital for                                           
     cancellation                            (124)       -     (143)      - 
    Dividends paid                             348    (348)  (1,045)   (348)
  Total by financing activities               (369)   (935)    (891)     52 
----------------------------------------------------------------------------
Increase (decrease) in cash                    (48)   (204)    (132)     47 
Cash - beginning of period                      58     290      142      39 
----------------------------------------------------------------------------
Cash - end of period                            10      86       10      86 
----------------------------------------------------------------------------
----------------------------------------------------------------------------

Gendis Inc.

Notes to the unaudited Condensed Interim Financial Statements

October 31, 2012

(All tabular amounts in thousands of Canadian dollars unless otherwise stated)


1.  General information
    General information on Gendis Inc. is the same as disclosed in Note 1 to
    the complete audited annual financial report for the year ended January
    31, 2012.
    The principal accounting policies applied in the preparation of these
    condensed interim financial statements are the same as set out in Note 2
    to the complete audited annual financial report for the year ended
    January 31, 2012. These policies have been consistently applied to all
    periods presented. 
    
    
2.  Investments 

                                                              Oct 31  Jan 31
                                                                2012    2012
----------------------------------------------------------------------------
                                                                            
Veresen                                                       25,760  30,120
OSUM                                                          17,405  25,595
Other equity investments                                       1,765      98
----------------------------------------------------------------------------
                                                                            
                                                              44,930  55,813
----------------------------------------------------------------------------
                                                                            
3. Credit facilities                                                        
                                                  Remaining                 
                                 Borrowing        borrowing   Carrying value
                                   Balance     availability    of collateral
------------------------------------------ ---------------- ----------------
                            Oct 31  Jan 31   Oct 31  Jan 31   Oct 31  Jan 31
                              2012    2012     2012    2012     2012    2012
----------------------------------------------------------------------------
Banker's acceptances         3,497   3,000                                  
Bank demand loan               400     600                                  
-------------------------------------------                                 
                             3,897   3,600    6,100   8,400   23,852  27,890
Broker's margin account          -       -    1,177   1,115    2,673   2,328
----------------------------------------------------------------------------
                                                                            
                             3,897   3,600    7,277   9,515   26,525  30,218
----------------------------------------------------------------------------
----------------------------------------------------------------------------

4.  Settlement of legal claims
    The Company reached a settlement with its insurer concerning the
    settlement of legal claims against the Company and some of its Directors
    by two suppliers and a buying agent and importer to a former subsidiary
    of the Company. 
    
    
5.  Subsequent Event
    On December 10, 2012, the Company declared a regular dividend of 2.5
    cents per share to shareholders of record December 21, 2012, payable
    January 4, 2013.
    
    During the period November 1, 2012 to December 10, 2012, the Company
    sold 105,000 shares of OSUM for net proceeds of $899,000.
    
    During the period November 1, 2012 to December 10, 2012, the Company
    purchased 1-million shares of Input Capital Corp., a private company,
    for $1-million.

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
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome,” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
With the proliferation of connected devices underpinning new Internet of Things systems, Brandon Schulz, Director of Luxoft IoT – Retail, will be looking at the transformation of the retail customer experience in brick and mortar stores in his session at @ThingsExpo. Questions he will address include: Will beacons drop to the wayside like QR codes, or be a proximity-based profit driver? How will the customer experience change in stores of all types when everything can be instrumented and analyzed? As an area of investment, how might a retail company move towards an innovation methodolo...
Consumer IoT applications provide data about the user that just doesn’t exist in traditional PC or mobile web applications. This rich data, or “context,” enables the highly personalized consumer experiences that characterize many consumer IoT apps. This same data is also providing brands with unprecedented insight into how their connected products are being used, while, at the same time, powering highly targeted engagement and marketing opportunities. In his session at @ThingsExpo, Nathan Treloar, President and COO of Bebaio, will explore examples of brands transforming their businesses by t...
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
As more and more data is generated from a variety of connected devices, the need to get insights from this data and predict future behavior and trends is increasingly essential for businesses. Real-time stream processing is needed in a variety of different industries such as Manufacturing, Oil and Gas, Automobile, Finance, Online Retail, Smart Grids, and Healthcare. Azure Stream Analytics is a fully managed distributed stream computation service that provides low latency, scalable processing of streaming data in the cloud with an enterprise grade SLA. It features built-in integration with Azur...
A producer of the first smartphones and tablets, presenter Lee M. Williams will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ETwater. In his session at @ThingsExpo, Lee Williams, COO of ETwater, will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ETwater.
SYS-CON Events announced today that Micron Technology, Inc., a global leader in advanced semiconductor systems, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Micron’s broad portfolio of high-performance memory technologies – including DRAM, NAND and NOR Flash – is the basis for solid state drives, modules, multichip packages and other system solutions. Backed by more than 35 years of technology leadership, Micron's memory solutions enable the world's most innovative computing, consumer,...
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies leverage disruptive technologies to optimize revenue-generating systems, has been named “Bronze Sponsor” of SYS-CON's 17th Cloud Expo, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. 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 DevOps to advance innovation and increase agility. Specializing in designing, imple...
While many app developers are comfortable building apps for the smartphone, there is a whole new world out there. In his session at @ThingsExpo, Narayan Sainaney, Co-founder and CTO of Mojio, will discuss how the business case for connected car apps is growing and, with open platform companies having already done the heavy lifting, there really is no barrier to entry.
As more intelligent IoT applications shift into gear, they’re merging into the ever-increasing traffic flow of the Internet. It won’t be long before we experience bottlenecks, as IoT traffic peaks during rush hours. Organizations that are unprepared will find themselves by the side of the road unable to cross back into the fast lane. As billions of new devices begin to communicate and exchange data – will your infrastructure be scalable enough to handle this new interconnected world?
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.
Through WebRTC, audio and video communications are being embedded more easily than ever into applications, helping carriers, enterprises and independent software vendors deliver greater functionality to their end users. With today’s business world increasingly focused on outcomes, users’ growing calls for ease of use, and businesses craving smarter, tighter integration, what’s the next step in delivering a richer, more immersive experience? That richer, more fully integrated experience comes about through a Communications Platform as a Service which allows for messaging, screen sharing, video...
SYS-CON Events announced today that IceWarp will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. IceWarp, the leader of cloud and on-premise messaging, delivers secured email, chat, documents, conferencing and collaboration to today's mobile workforce, all in one unified interface
The Internet of Things (IoT) is about the digitization of physical assets including sensors, devices, machines, gateways, and the network. It creates possibilities for significant value creation and new revenue generating business models via data democratization and ubiquitous analytics across IoT networks. The explosion of data in all forms in IoT requires a more robust and broader lens in order to enable smarter timely actions and better outcomes. Business operations become the key driver of IoT applications and projects. Business operations, IT, and data scientists need advanced analytics t...
Akana has announced the availability of the new Akana Healthcare Solution. The API-driven solution helps healthcare organizations accelerate their transition to being secure, digitally interoperable businesses. It leverages the Health Level Seven International Fast Healthcare Interoperability Resources (HL7 FHIR) standard to enable broader business use of medical data. Akana developed the Healthcare Solution in response to healthcare businesses that want to increase electronic, multi-device access to health records while reducing operating costs and complying with government regulations.
For IoT to grow as quickly as analyst firms’ project, a lot is going to fall on developers to quickly bring applications to market. But the lack of a standard development platform threatens to slow growth and make application development more time consuming and costly, much like we’ve seen in the mobile space. In his session at @ThingsExpo, Mike Weiner, Product Manager of the Omega DevCloud with KORE Telematics Inc., discussed the evolving requirements for developers as IoT matures and conducted a live demonstration of how quickly application development can happen when the need to comply wit...
The Internet of Everything (IoE) brings together people, process, data and things to make networked connections more relevant and valuable than ever before – transforming information into knowledge and knowledge into wisdom. IoE creates new capabilities, richer experiences, and unprecedented opportunities to improve business and government operations, decision making and mission support capabilities.
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Architect for the Internet of Things and Intelligent Systems, described how to revolutionize your archit...
MuleSoft has announced the findings of its 2015 Connectivity Benchmark Report on the adoption and business impact of APIs. The findings suggest traditional businesses are quickly evolving into "composable enterprises" built out of hundreds of connected software services, applications and devices. Most are embracing the Internet of Things (IoT) and microservices technologies like Docker. A majority are integrating wearables, like smart watches, and more than half plan to generate revenue with APIs within the next year.
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Opening Keynote at 16th Cloud Expo, Sandy Carter, IBM General Manager Cloud Ecosystem and Developers, and a Social Business Evangelist, d...