Click here to close now.


Microsoft Cloud Authors: Jayaram Krishnaswamy, Elizabeth White, Andreas Grabner, Jim Kaskade, Pat Romanski

News Feed Item

Epic Data Announces Year End Results

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/28/13 -- Epic Data International Inc. (TSX VENTURE:EKD), a provider of manufacturing execution systems (MES), a provider of manufacturing operations management and real-time data collection solutions, today announced the results of operations for the three months and year ended September 30, 2012.

Highlights for the year:

--  Increased product development spending in 2012 compared to 2011 by
    nearly 150% to $1.6 million; 
--  Released IntegraMES 6.4, our newly architected, web-enabled MES
--  Developed UniView, our new rugged shop floor terminal that supports
    browser-based web applications and high security; 
--  Set up a majority-owned equity joint venture with Huazhong University of
    Science & Technology, one of China's most prominent engineering
    universities and grew the operations to 115 staff in Wuhan; and 
--  Completed a $2.4 million equity and debenture financing.

Results of Operations                                                       
                             Three months ended                  Year ended 
                                  September 30,               September 30, 
                             2012          2011          2012          2011 
                     ------------- ------------- ------------- -------------
Revenue              $    956,508  $    935,869  $  4,213,752  $  4,202,974 
Cost of sales             717,025       458,325     2,441,982     2,082,498 
Gross margin              239,483       477,544     1,771,770     2,120,476 
  General and                                                               
   administration         638,641       500,444     2,435,705     1,814,415 
  Sales and marketing     527,396       284,708     1,852,273       987,761 
  Product development     365,706       182,475     1,570,417       632,137 
  Net finance charges      77,280        52,742       473,213       153,382 
  Deferred income tax                                                       
   (recovery)            (117,768)            -      (117,768)     (167,608)
  Foreign exchange        (38,576)        7,640         8,421        84,833 
                        1,452,679     1,028,009     6,222,261     3,504,920 
Net loss               (1,213,196)     (550,465)   (4,450,491)   (1,384,444)
Loss per share -                                                            
 basic and diluted   $      (0.04) $      (0.02) $      (0.13) $      (0.05)

Results of Operations for the year ended September 30, 2012 compared with 2011


Revenue for the year ended September 30, 2012 increased $10,778 or 0.3% to $4,213,752 compared with $4,202,974 in the prior year. The increase in revenue was due to revenue from the start-up operations in China.

Gross Margin

The gross margin for the year ended September 30, 2012 decreased $348,706 or 17% to $1,771,770 as compared with $2,120,476 in the prior year. The decrease was due to the start-up operations in China where a number of projects are in progress, however certain conditions necessary to allow revenue recognition have not yet been met.

General and administration

General and administration expenses for the year ended September 30, 2012 increased $621,290 or 34% to $2,435,705 compared with $1,814,415 in the prior year. The increase is principally due to the start up operations in China, which were for $605,834.

Sales and marketing

Sales and marketing expenses for the year ended September 30, 2012 increased $864,512 or 87% to $1,852,273 compared with $987,761 in the prior year. The increase is primarily due to the start-up operations in China which accounted for $324,132 and compensation and sales consulting related costs to new personnel, including the hiring of a new vice president of sales, totaling for $461,388.

Product development

Product development expenses for the year ended September 30, 2012 increased $938,280 or 148% to $1,570,417 compared with $632,137 in the prior year. We have development teams in Richmond, Canada and Wuhan, China. The increase in spending was comprised of the new development team in Wuhan, which accounted for $300,178 of the increase and the balance of the increase of $638,102 was incurred in Richmond. The increase is due to the development of the UniView, our new rugged shop floor terminal that supports browser-based web applications and high security and the release of IntegraMES 6.4, our newly architected, web-enabled MES platform.

Net finance charges

Net finance charges for the year ended September 30, 2012 increased $319,831 or 57% to $473,213 compared with $153,382 in the prior year. The increase is due to the interest accretion of $292,534, which was primarily related to the repayment of debt in the year, and to the interest charged on the debt.

Net loss

Net loss for the year ended September 30, 2012 increased $3,066,047 or 221% to $4,450,491 compared with $1,384,444 in the prior year. The significant components are the start-up operations in China, which had a loss of 1,583,760 and the increased product development.

Results of operations for the fourth quarter

Revenue for the three months ended September 30, 2012 increased $20,639 or 2% to $956,508 compared with $935,869 in the same period of the prior year. The increase was due to project work in the fourth quarter. Cost of sales however increased by $258,700 as a result of the operations in China, which had a number of projects in progress, however certain conditions necessary to allow revenue recognition have not yet been met.

Expenses for the three months ended September 30, 2012 increased $424,670 or 55% to $1,452,679 compared with $1,028,009 in the same period of the prior year. In general the expenses for the three months ended September 30, 2012 are higher than last year due mainly to the operations in China.

Net loss for the three months ended September 30, 2012 increased $662,731 to a loss of $1,213,196 compared with a loss of $550,465 in the same period of the prior year.

Loan Financing

The Company announces that it has received a term loan of $555,000 from Hua Zhuo Lin, a minority shareholder of the Company. The proceeds of the loan will be used to complete the Company's registered capital obligation for its 51% investment in Epic-Hust Technology (Wuhan) Co. Ltd ("Epic-Hust JV) in China. The principal amount of the loan is due on January 31, 2016 and will bear interest at the rate of 5% per annum payable semi-annually. In connection with this loan, the Company has granted a security against the Company's equity interest in Epic-Hust JV.

About Epic Data

Epic Data International Inc. has produced manufacturing execution and warehouse management solutions for 36 years. Epic Data solutions synchronize supply chain and production activities to achieve real-time visibility of manufacturing metrics that reduces cycle times and costs, optimizes production planning and control, and boosts quality and efficiency. The solutions are easily implemented either by module or as a completely integrated solution suite across the global enterprise. Customers include Lockheed Martin, Bell Helicopter, Komatsu, Hawker Beechcraft, Bombardier Learjet, CAE Inc., Kingfisher (B&Q) plc, Joy Mining Machinery, Cobham Defence Communications Ltd., GE Aircraft Engine, Contour Premium Aircraft Seating, McBride plc, Phoenix Contact, Rolls-Royce and Volvo.

More information about Epic Data is available at

Caution Regarding Forward-looking Statements

In this document and in other documents filed with Canadian regulatory authorities or in other communications, the Company may from time to time make written or oral forward-looking statements within the meaning of applicable securities legislation, including statements regarding the Company's business plans and financial objectives. These statements typically use words such as prospects, believe, estimate, forecast, project, expect, anticipate, plan, may, should, could and would, or the negative of these terms, variations thereof or similar terminology. By their very nature, forward-looking statements are based on assumptions and involve inherent risks and uncertainties, both general and specific in nature. It is therefore possible that the forecasts, projections and other forward-looking statements will not be achieved or will prove inaccurate. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, it provides no assurance that these expectations will prove to have been correct. The Company cautions readers against placing undue reliance on forward-looking statements when making decisions, as the actual results could differ considerably from the opinions, plans, objectives, expectations, forecasts, estimates and intentions expressed in such forward-looking statements due to various material factors. Among other things, these factors include fiscal and economic policies, changes in interest and foreign exchange rates, and general economic conditions, legislative and regulatory developments, competition and access to capital. The Company further cautions that the foregoing list of factors is not exhaustive. For more information on the risks, uncertainties and assumptions that would cause the Company's actual results to differ from current expectations, please also refer to the Company's public filings available at The Company does not undertake to update any forward-looking statements, whether oral or written, made by itself or on its behalf, except to the extent required by securities regulations.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the 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
Today’s connected world is moving from devices towards things, what this means is that by using increasingly low cost sensors embedded in devices we can create many new use cases. These span across use cases in cities, vehicles, home, offices, factories, retail environments, worksites, health, logistics, and health. These use cases rely on ubiquitous connectivity and generate massive amounts of data at scale. These technologies enable new business opportunities, ways to optimize and automate, along with new ways to engage with users.
The buzz continues for cloud, data analytics and the Internet of Things (IoT) and their collective impact across all industries. But a new conversation is emerging - how do companies use industry disruption and technology enablers to lead in markets undergoing change, uncertainty and ambiguity? Organizations of all sizes need to evolve and transform, often under massive pressure, as industry lines blur and merge and traditional business models are assaulted and turned upside down. In this new data-driven world, marketplaces reign supreme while interoperability, APIs and applications deliver un...
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 shows "less than 10 percent of IoT developers are making enough to support a reasonably sized team....
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.
Today air travel is a minefield of delays, hassles and customer disappointment. Airlines struggle to revitalize the experience. GE and M2Mi will demonstrate practical examples of how IoT solutions are helping airlines bring back personalization, reduce trip time and improve reliability. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Dr. Sarah Cooper, M2Mi's VP Business Development and Engineering, will explore the IoT cloud-based platform technologies driving this change including privacy controls, data transparency and integration of real time context w...
SYS-CON Events announced today that Sandy Carter, IBM General Manager Cloud Ecosystem and Developers, and a Social Business Evangelist, will keynote 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.
Developing software for the Internet of Things (IoT) comes with its own set of challenges. Security, privacy, and unified standards are a few key issues. In addition, each IoT product is comprised of at least three separate application components: the software embedded in the device, the backend big-data service, and the mobile application for the end user's controls. Each component is developed by a different team, using different technologies and practices, and deployed to a different stack/target - this makes the integration of these separate pipelines and the coordination of software upd...
The IoT market is on track to hit $7.1 trillion in 2020. The reality is that only a handful of companies are ready for this massive demand. There are a lot of barriers, paint points, traps, and hidden roadblocks. How can we deal with these issues and challenges? The paradigm has changed. Old-style ad-hoc trial-and-error ways will certainly lead you to the dead end. What is mandatory is an overarching and adaptive approach to effectively handle the rapid changes and exponential growth.
Mobile messaging has been a popular communication channel for more than 20 years. Finnish engineer Matti Makkonen invented the idea for SMS (Short Message Service) in 1984, making his vision a reality on December 3, 1992 by sending the first message ("Happy Christmas") from a PC to a cell phone. Since then, the technology has evolved immensely, from both a technology standpoint, and in our everyday uses for it. Originally used for person-to-person (P2P) communication, i.e., Sally sends a text message to Betty – mobile messaging now offers tremendous value to businesses for customer and empl...
"Matrix is an ambitious open standard and implementation that's set up to break down the fragmentation problems that exist in IP messaging and VoIP communication," explained John Woolf, Technical Evangelist at Matrix, in this interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
WebRTC converts the entire network into a ubiquitous communications cloud thereby connecting anytime, anywhere through any point. In his session at WebRTC Summit,, Mark Castleman, EIR at Bell Labs and Head of Future X Labs, will discuss how the transformational nature of communications is achieved through the democratizing force of WebRTC. WebRTC is doing for voice what HTML did for web content.
The IoT is upon us, but today’s databases, built on 30-year-old math, require multiple platforms to create a single solution. Data demands of the IoT require Big Data systems that can handle ingest, transactions and analytics concurrently adapting to varied situations as they occur, with speed at scale. In his session at @ThingsExpo, Chad Jones, chief strategy officer at Deep Information Sciences, will look differently at IoT data so enterprises can fully leverage their IoT potential. He’ll share tips on how to speed up business initiatives, harness Big Data and remain one step ahead by apply...
Nowadays, a large number of sensors and devices are connected to the network. Leading-edge IoT technologies integrate various types of sensor data to create a new value for several business decision scenarios. The transparent cloud is a model of a new IoT emergence service platform. Many service providers store and access various types of sensor data in order to create and find out new business values by integrating such data.
The broad selection of hardware, the rapid evolution of operating systems and the time-to-market for mobile apps has been so rapid that new challenges for developers and engineers arise every day. Security, testing, hosting, and other metrics have to be considered through the process. In his session at Big Data Expo, Walter Maguire, Chief Field Technologist, HP Big Data Group, at Hewlett-Packard, will discuss the challenges faced by developers and a composite Big Data applications builder, focusing on how to help solve the problems that developers are continuously battling.
There are so many tools and techniques for data analytics that even for a data scientist the choices, possible systems, and even the types of data can be daunting. In his session at @ThingsExpo, Chris Harrold, Global CTO for Big Data Solutions for EMC Corporation, will show how to perform a simple, but meaningful analysis of social sentiment data using freely available tools that take only minutes to download and install. Participants will get the download information, scripts, and complete end-to-end walkthrough of the analysis from start to finish. Participants will also be given the pract...
WebRTC services have already permeated corporate communications in the form of videoconferencing solutions. However, WebRTC has the potential of going beyond and catalyzing a new class of services providing more than calls with capabilities such as mass-scale real-time media broadcasting, enriched and augmented video, person-to-machine and machine-to-machine communications. In his session at @ThingsExpo, Luis Lopez, CEO of Kurento, will introduce the technologies required for implementing these ideas and some early experiments performed in the Kurento open source software community in areas ...
Internet of Things (IoT) will be a hybrid ecosystem of diverse devices and sensors collaborating with operational and enterprise systems to create the next big application. In their session at @ThingsExpo, Bramh Gupta, founder and CEO of, and Fred Yatzeck, principal architect leading product development at, discussed how choosing the right middleware and integration strategy from the get-go will enable IoT solution developers to adapt and grow with the industry, while at the same time reduce Time to Market (TTM) by using plug and play capabilities offered by a robust IoT ...
“In the past year we've seen a lot of stabilization of WebRTC. You can now use it in production with a far greater degree of certainty. A lot of the real developments in the past year have been in things like the data channel, which will enable a whole new type of application," explained Peter Dunkley, Technical Director at Acision, in this interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
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 Dyn, the worldwide leader in Internet Performance, will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Dyn is a cloud-based Internet Performance company. Dyn helps companies monitor, control, and optimize online infrastructure for an exceptional end-user experience. Through a world-class network and unrivaled, objective intelligence into Internet conditions, Dyn ensures traffic gets delivered faster, safer, and more reliably than ever.