ODESIA Reports Increase in Second Quarter Revenue
28 Agosto 2012 - 9:40AM
Marketwired Canada
ODESIA Group Inc. ("ODESIA" or "the Company") (TSX VENTURE:ODS), an
international corporation specialized in Corporate IT solutions, is pleased to
announce its 2012 second quarter revenue of 2,948,000, a significant increase
from the same period in 2011.
"A 22% increase in revenue from Q2 2011 and a 25% increase from the first
semester of 2011 are positive indications of initial progress from ODESIA's
strategic plan announced in late 2011," stated President and CEO, Nicolas
Bonnafous. "In addition to organic growth in revenue, ODESIA also completed the
successful acquisition and integration of Interfacing Technologies Corporation
in Q2 2012. The award winning portfolio of BPM software products acquired from
Interfacing, adds depth and breadth to our strategic mix of offerings."
Highlights for the second quarter ended June 30, 2012:
-- Interfacing Technologies Corporation's acquisition completed in May
2012;
-- Private placement of $750,000 completed in June 2012;
-- Revenue of $2,948,000; an increase of $537,000 or 22% from $2,411,000 in
Q2 2011;
-- Revenue of $5,962,000 in the first semester of 2012; an increase of
$1,192,000 or 25% from $4,770,000 in the same period in 2011;
-- Gross profit of 33% or $983,000; compared to 28% or 665,000 in Q2 2011;
-- Increase in sales & marketing effort, now represents 13% of sales
compared to 8% in Q2 2011;
-- Net loss of $172,000 (including $72,000 of non-recurring expenses)
compared to a net loss of $126,000 in Q2 2011;
-- Increased total equity attributable to the owners of ODESIA by
$1,349,000 since December 2011.
Selected financial information
Income statement
For the three-month For the six-month
period period
($000's except per share ended June 30, ended June 30,
amounts) (unaudited) (unaudited)
---------------------------------------------------
2012 2011 2012 2011
----------------------------------------------------------------------------
Revenue 2,948 2,411 5,962 4,770
Gross profit 983 665 1,836 1,410
Non-recurring expenses 72 - 72 -
Operating profit (loss) (133) (59) (69) 48
Net loss (172) (126) (157) (148)
Basic and diluted net
loss per share
attributable to owners
of ODESIA (0.005) (0.004) (0.005) (0.005)
Statement of financial position
June 30, 2012 December 31, 2011
($000's) (unaudited) (audited)
----------------------------------------------------------------------------
Total assets 7,073 4,119
Convertible debentures and long-term
debt including short-term portions 1,678 565
Outlook
The ODESIA leadership team strives to advance new corporate development
initiatives to insure continuous organic growth and is also dedicated to deliver
ongoing results by identifying acquisition opportunities.
Additional information on the second quarter ended June 30, 2012
The financial information regarding the second quarter ended June 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
About ODESIA Group Inc.
ODESIA Group Inc. (TSX VENTURE:ODS) is a global technology solutions provider
serving enterprise level Fortune 500 companies in the financial services,
manufacturing, media and telecommunications industries. ODESIA's team mission is
to empower multinational corporations with the ability to improve the efficiency
of operations, enhance process performance, productivity and profitability, and
make better overall business decisions by implementing Unified Business
Intelligence solutions that present the right information, at the right time,
and the right place. ODESIA is listed on the Toronto Venture exchange under the
symbol "ODS." For more information on The Company visit www.odesia.com or for
Investor Relations visit www.primecom.ca. A copy of the latest company data
sheet is available at http://media3.marketwire.com/docs/ODS_Broker_Factsheet.pdf
Disclaimer in regards to forward-looking statements
This press release contains forward-looking statements which reflect ODESIA's
current expectations regarding future events and may involve risks or
uncertainties. 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.
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