News Feed Item
ODESIA Announces its 2013 Year-End Financial Results
|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
-- 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
-- Improved consolidated statements of financial position
-- Decreased current liabilities by $2,047,000 and current assets by
-- 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
Selected financial information
For the years ended December 31, 2013 2012
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)
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
operations (0.005) (0.006) (0.002) (0.003)
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.
Kubernetes, Docker and containers are changing the world, and how companies are deploying their software and running their infrastructure. With the shift in how applications are built and deployed, new challenges must be solved.
In his session at @DevOpsSummit at19th Cloud Expo, Sebastian Scheele, co-founder of Loodse, will discuss the implications of containerized applications/infrastructures and their impact on the enterprise. In a real world example based on Kubernetes, he will show how to ...
Aug. 24, 2016 04:45 PM EDT Reads: 1,290
Is the ongoing quest for agility in the data center forcing you to evaluate how to be a part of infrastructure automation efforts?
As organizations evolve toward bimodal IT operations, they are embracing new service delivery models and leveraging virtualization to increase infrastructure agility. Therefore, the network must evolve in parallel to become equally agile. Read this essential piece of Gartner research for recommendations on achieving greater agility.
Aug. 24, 2016 04:35 PM EDT Reads: 239
SYS-CON Events announced today that Venafi, the Immune System for the Internet™ and the leading provider of Next Generation Trust Protection, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Venafi is the Immune System for the Internet™ that protects the foundation of all cybersecurity – cryptographic keys and digital certificates – so they can’t be misused by bad guys in attacks...
Aug. 24, 2016 04:15 PM EDT Reads: 2,542
Pulzze Systems was happy to participate in such a premier event and thankful to be receiving the winning investment and global network support from G-Startup Worldwide. It is an exciting time for Pulzze to showcase the effectiveness of innovative technologies and enable them to make the world smarter and better.
The reputable contest is held to identify promising startups around the globe that are assured to change the world through their innovative products and disruptive technologies. There w...
Aug. 24, 2016 04:15 PM EDT Reads: 315
SYS-CON Events announced today Telecom Reseller has been named “Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
Aug. 24, 2016 04:15 PM EDT Reads: 418
To paraphrase someone famous, "The definition of insanity is to do something the same way over and over again and expect a different result".
Humans are creatures of habit and when it comes to storage, old habits die hard.
Why do we continue to put our faith in legacy storage providers when they haven't invented anything new in decades. Sure, they re-badge their products every couple of years to make their messaging look modern, but ultimately, it's the same old stuff with a new coat of lipsti...
Aug. 24, 2016 04:10 PM EDT Reads: 246
StarNet Communications Corp has announced the addition of three Secure Remote Desktop modules to its flagship X-Win32 PC X server. The new modules enable X-Win32 to safely tunnel the remote desktops from Linux and Unix servers to the user’s PC over encrypted SSH.
Traditionally, users of PC X servers deploy the XDMCP protocol to display remote desktop environments such as the Gnome and KDE desktops on Linux servers and the CDE environment on Solaris Unix machines. XDMCP is used primarily on comp...
Aug. 24, 2016 03:15 PM EDT Reads: 373
Smart Cities are here to stay, but for their promise to be delivered, the data they produce must not be put in new siloes.
In his session at @ThingsExpo, Mathias Herberts, Co-founder and CTO of Cityzen Data, will deep dive into best practices that will ensure a successful smart city journey.
Aug. 24, 2016 02:15 PM EDT Reads: 1,431
Using new techniques of information modeling, indexing, and processing, new cloud-based systems can support cloud-based workloads previously not possible for high-throughput insurance, banking, and case-based applications.
In his session at 18th Cloud Expo, John Newton, CTO, Founder and Chairman of Alfresco, described how to scale cloud-based content management repositories to store, manage, and retrieve billions of documents and related information with fast and linear scalability.
Aug. 24, 2016 02:00 PM EDT Reads: 1,824
SYS-CON Events announced today that StarNet Communications will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
StarNet Communications’ FastX is the industry first cloud-based remote X Windows emulator. Using standard Web browsers (FireFox, Chrome, Safari, etc.) users from around the world gain highly secure access to applications and data hosted on Linux-based servers in a central data center. ...
Aug. 24, 2016 02:00 PM EDT Reads: 449
Aspose.Total for .NET is the most complete package of all file format APIs for .NET as offered by Aspose. It empowers developers to create, edit, render, print and convert between a wide range of popular document formats within any .NET, C#, ASP.NET and VB.NET applications.
Aspose compiles all .NET APIs on a daily basis to ensure that it contains the most up to date versions of each of Aspose .NET APIs. If a new .NET API or a new version of existing APIs is released during the subscription peri...
Aug. 24, 2016 12:15 PM EDT Reads: 1,792
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location.
With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
Aug. 24, 2016 12:00 PM EDT Reads: 3,843
DevOps at Cloud Expo – being held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open.
Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real results. Am...
Aug. 24, 2016 11:45 AM EDT Reads: 3,351
To leverage Continuous Delivery, enterprises must consider impacts that span functional silos, as well as applications that touch older, slower moving components. Managing the many dependencies can cause slowdowns. See how to achieve continuous delivery in the enterprise.
Aug. 24, 2016 11:45 AM EDT Reads: 1,433
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo 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 to wait for long dev...
Aug. 24, 2016 11:00 AM EDT Reads: 2,087