|By Marketwired .||
|April 30, 2014 08:00 AM EDT||
MONTREAL, QUEBEC -- (Marketwired) -- 04/30/14 -- ODESIA Group Inc. (TSX VENTURE: ODS), a Canadian Information Technology consulting and solutions company, specialized in Business Intelligence (BI), Business Process Management (BPM) and Big Data Analytics is pleased to announce its financial results for the fourth quarter and year ended December 31, 2013.
2013 - Redeployment of capital into the Canadian Business Intelligence operations
"The sale of two subsidiaries in 2013 presented the opportunity to monetize lower yielding assets and to redeploy capital into our Canadian BI operations," declared Mr. Nicolas Bonnafous, President and CEO of ODESIA.
Fourth Quarter Key Highlights
-- Sold Interfacing for a total consideration of $909,584; -- Sold ODESIA Europe SAS for a total cash consideration of $1,024,365;
2013 Financial Highlights
-- Revenue of $7,608,000, an increase of $1,691,000 or 29% compared to 2012; -- Gross profit of 25% or $1,936,000; -- Operating loss of $430,000 and Net loss of $603,000; -- Basic and diluted net loss per share attributable to owners of ODESIA of $0.016; -- Improved consolidated statements of financial position -- Decreased current liabilities by $2,047,000 and current assets by $1,445,000; -- Decreased long-term liabilities by $419,000 and long-term assets by 1,630,000 (the decrease in long-term assets mainly comes from the disposition of intangible assets following the sale of Interfacing); -- Odesia has $683,000 in balance of sale price receivable over the next 20 months; the possibility to monetize this asset is currently being analyzed.
Selected financial information
For the years ended December 31, 2013 2012 $ $ Restated Revenue 7,608,000 5,917,000 Gross profit 1,936,000 1,914,000 Operating loss (430,000) (576,000) Net loss (603,000) (845,000) Basic and diluted net loss per share attributable to shareholders of ODESIA From continuing operations (0.015) (0.023) From discontinued operations (0.001) (0.003) ------------------------------------ (0.016) (0.026) Comprehensive income (710,000) (845,000) December 31, 2013 December 31, 2012 $ $ Total assets 4,309,000 7,384,000 Convertible debentures and long-term debt including short-term portion 546,000 1,858,000
Quarterly data (unaudited)
The following table is a summary of certain information on the Company's last four quarters:
Q1 Q2 Q3 Q4 March 31 June 30 September 30 December 31 $ $ $ $ 2013 Restated Restated Restated ---------------------------------------------------------------------------- Revenue 1,914,000 1,754,000 1,834,000 2,106,000 Net earnings (loss) (320,000) (452,000) (156,000) 325,000 Basic and diluted net earnings (loss) per share attributable to shareholders of ODESIA From continuing operations (0.005) (0.006) (0.002) (0.003) From discontinued operations (0.005) (0.005) (0.002) 0.010 ---------------------------------------------------- (0.010) (0.011) (0.004) 0.007
Additional information on the fiscal year ended December 31, 2013
The financial information regarding the year ended December 31, 2013 should be read in parallel with the Company's annual consolidated financial statements and MD&A (Management Discussion and Analysis). These documents can be found on www.sedar.com.
Founded in 1998, ODESIA Group Inc. is a Canadian Information Technology (IT) consulting and solutions company headquartered in Montreal. ODESIA offers solutions in Business Intelligence, Business Process Management and Big Data Analytics. ODESIA's mission is to help its clients improve operations efficiency, enhance process performance and make better business decisions by mastering the right information at the right time and the right place. Website: www.odesia.com
ODESIA is listed on the Toronto Venture exchange under the symbol "ODS".
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.
Neither the 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.
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 Trel...
Sep. 3, 2015 12:30 PM EDT Reads: 281
All major researchers estimate there will be tens of billions devices - computers, smartphones, tablets, and sensors - connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades. With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo, November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Learn what is going on, contribute to the discussions, and e...
Sep. 3, 2015 12:15 PM EDT
Containers are not new, but renewed commitments to performance, flexibility, and agility have propelled them to the top of the agenda today. By working without the need for virtualization and its overhead, containers are seen as the perfect way to deploy apps and services across multiple clouds. Containers can handle anything from file types to operating systems and services, including microservices. What are microservices? Unlike what the name implies, microservices are not necessarily small,...
Sep. 3, 2015 12:00 PM EDT Reads: 117
In his session at @ThingsExpo, Lee Williams, a producer of the first smartphones and tablets, 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. He will explain how M2M controllers work through wirelessly connected remote controls; and specifically delve into a retrofit option that reverse-engineers control codes of existing conventional controller systems so the...
Sep. 3, 2015 12:00 PM EDT Reads: 245
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 thes...
Sep. 3, 2015 11:30 AM EDT
ElasticBox, the agile application delivery manager, announced freely available public boxes for the DevOps community. ElasticBox works with enterprises to help them deploy any application to any cloud. Public boxes are curated reference boxes that represent some of the most popular applications and tools for orchestrating deployments at scale. Boxes are an adaptive way to represent reusable infrastructure as components of code. Boxes contain scripts, variables, and metadata to automate proces...
Sep. 3, 2015 11:30 AM EDT
The web app is agile. The REST API is agile. The testing and planning are agile. But alas, data infrastructures certainly are not. Once an application matures, changing the shape or indexing scheme of data often forces at best a top down planning exercise and at worst includes schema changes that force downtime. The time has come for a new approach that fundamentally advances the agility of distributed data infrastructures. Come learn about a new solution to the problems faced by software organ...
Sep. 3, 2015 11:00 AM EDT Reads: 130
U.S. companies are desperately trying to recruit and hire skilled software engineers and developers, but there is simply not enough quality talent to go around. Tiempo Development is a nearshore software development company. Our headquarters are in AZ, but we are a pioneer and leader in outsourcing to Mexico, based on our three software development centers there. We have a proven process and we are experts at providing our customers with powerful solutions. We transform ideas into reality.
Sep. 3, 2015 10:45 AM EDT Reads: 569
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...
Sep. 3, 2015 10:45 AM EDT
Advances in technology and ubiquitous connectivity have made the utilization of a dispersed workforce more common. Whether that remote team is located across the street or country, management styles/ approaches will have to be adjusted to accommodate this new dynamic. In his session at 17th Cloud Expo, Sagi Brody, Chief Technology Officer at Webair Internet Development Inc., will focus on the challenges of managing remote teams, providing real-world examples that demonstrate what works and what...
Sep. 3, 2015 10:15 AM EDT Reads: 115
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 tech...
Sep. 3, 2015 10:00 AM EDT Reads: 278
17th Cloud Expo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises ar...
Sep. 3, 2015 10:00 AM EDT Reads: 1,597
Any Ops team trying to support a company in today’s cloud-connected world knows that a new way of thinking is required – one just as dramatic than the shift from Ops to DevOps. The diversity of modern operations requires teams to focus their impact on breadth vs. depth. In his session at DevOps Summit, Adam Serediuk, Director of Operations at xMatters, Inc., will discuss the strategic requirements of evolving from Ops to DevOps, and why modern Operations has begun leveraging the “NoOps” approa...
Sep. 3, 2015 10:00 AM EDT Reads: 448
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.
Sep. 3, 2015 09:30 AM EDT Reads: 208
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?
Sep. 3, 2015 09:30 AM EDT Reads: 201