|By Marketwired .||
|May 15, 2014 04:00 PM EDT||
CALGARY, ALBERTA -- (Marketwired) -- 05/15/14 -- Gemini Corporation (TSX VENTURE: GKX) announces its first quarter financial results for the period ended March 31, 2014.
Revenue in the first quarter of 2014 totalled $28,218,000, which was a 63% increase from the $17,350,000 achieved in the first quarter of 2013. As is typical of the first quarter of the year in the oil and gas industry, the availability of project work was constrained. Notwithstanding the seasonal factors, the Corporation was able to secure projects that provided sufficient workload to retain its core staff, but at lower margins due to the highly price competitive environment. Client forecasts continue to indicate that activity levels should improve in the second quarter and return to normal in the second half of the year, which is expected to alleviate the temporary margin compression.
First quarter gross profit for 2014 was $3,680,000 compared to $2,443,000 in the same period last year. Margins were constrained in the Field Solutions segment due to the current price competitive environment, but are expected to average out for the year at historic levels. In addition, utilization rates for the Engineered Solutions segment were somewhat lower than those achieved in the last half of 2013, which had a dampening effect on gross profit.
The Corporation's 2014 first quarter net loss attributable to shareholders was $171,000 (0.3 cents per share) compared to a net loss of $370,000 (0.7 cents per share) in the same period last year.
"It was a challenging start to 2014 as a result of the competitive price environment and certain delays in work being issued from our key clients," stated Doug Lautermilch, Gemini's President and CEO. "Our prospects for the balance of this year are encouraging and we are looking forward to improving upon the overall performance we achieved in 2013."
About Gemini Corporation
Gemini Corporation is a professional services firm that designs, builds and maintains energy and industrial facilities. Founded in 1982, Gemini combines its engineering and field service capabilities to increase project efficiency and provide a single point of accountability. The Corporation's principal target markets are in-situ heavy oil, midstream, oil and gas production, and oil and gas processing facilities.
Shares of Gemini trade on the TSX Venture Exchange under the symbol "GKX". For more information about the Corporation and its services, go to www.geminicorp.ca.
Gemini's 2014 first-quarter report will be filed with SEDAR at http://www.sedar.com by May 16, 2014.
CONSOLIDATED FINANCIAL HIGHLIGHTS Three Months Ended (Unaudited) Operating Highlights ($'000) March 31, March 31, 2014 2013 Revenue $ 28,218 $ 17,350 Gross profit 3,680 2,443 Income (loss) from operating activities (129) (437) Net income (loss) attributable to shareholders $ (171) $ (370) Earnings per share (basic & diluted) $ (0.003) $ (0.007) Financial Position Highlights ($'000) March 31, December 31, 2014 2013 Working capital $ 14,434 $ 14,489 Total assets 40,160 41,823 Shareholders' equity 21,800 21,602
This news release may contain forward looking information that represents Gemini's internal projections, expectations, estimates or beliefs concerning, among other things, future operating results and various components thereof or Gemini's future economic performance. All statements other than the statements of historical fact may be forward-looking statements. In some cases, forward-looking statements can be identified by terminology such as "may", "will", "should", "expects", "projects", "plans", "anticipates", and similar expressions. The projections, estimates and beliefs contained in such forward-looking statements are based on management's assumptions relating to Gemini's performance and competition within the sectors in which it competes, the continuation of the current regulatory and tax regimes in the jurisdictions in which Gemini operates, and necessarily involve known and unknown risks and uncertainties, including risks and assumptions relating to client service demand, field service costs, labour rates, and other factors that may cause actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Accordingly, readers are cautioned that events or circumstances could cause results to differ materially from those predicted or suggested. The Corporation does not undertake to update any forward-looking information in this document whether as to new information, future events or otherwise.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
"There's a growing demand from users for things to be faster. When you think about all the transactions or interactions users will have with your product and everything that is between those transactions and interactions - what drives us at Catchpoint Systems is the idea to measure that and to analyze it," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York Ci...
Jul. 28, 2016 10:00 PM EDT Reads: 2,094
As companies gain momentum, the need to maintain high quality products can outstrip their development team’s bandwidth for QA. Building out a large QA team (whether in-house or outsourced) can slow down development and significantly increases costs. This eBook takes QA profiles from 5 companies who successfully scaled up production without building a large QA team and includes: What to consider when choosing CI/CD tools How culture and communication can make or break implementation
Jul. 28, 2016 10:00 PM EDT Reads: 1,714
"When you think about the data center today, there's constant evolution, The evolution of the data center and the needs of the consumer of technology change, and they change constantly," stated Matt Kalmenson, VP of Sales, Service and Cloud Providers at Veeam Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 28, 2016 10:00 PM EDT Reads: 1,436
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo Silicon Valley Call for Papers is now open.
Jul. 28, 2016 09:00 PM EDT Reads: 2,701
I wanted to gather all of my Internet of Things (IOT) blogs into a single blog (that I could later use with my University of San Francisco (USF) Big Data “MBA” course). However as I started to pull these blogs together, I realized that my IOT discussion lacked a vision; it lacked an end point towards which an organization could drive their IOT envisioning, proof of value, app dev, data engineering and data science efforts. And I think that the IOT end point is really quite simple…
Jul. 28, 2016 07:15 PM EDT Reads: 1,228
Extreme Computing is the ability to leverage highly performant infrastructure and software to accelerate Big Data, machine learning, HPC, and Enterprise applications. High IOPS Storage, low-latency networks, in-memory databases, GPUs and other parallel accelerators are being used to achieve faster results and help businesses make better decisions. In his session at 18th Cloud Expo, Michael O'Neill, Strategic Business Development at NVIDIA, focused on some of the unique ways extreme computing is...
Jul. 28, 2016 07:15 PM EDT Reads: 368
"We view the cloud not really as a specific technology but as a way of doing business and that way of doing business is transforming the way software, infrastructure and services are being delivered to business," explained Matthew Rosen, CEO and Director at Fusion, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 28, 2016 06:45 PM EDT Reads: 1,635
Redis is not only the fastest database, but it is the most popular among the new wave of databases running in containers. Redis speeds up just about every data interaction between your users or operational systems. In his session at 19th Cloud Expo, Dave Nielsen, Developer Advocate, Redis Labs, will share the functions and data structures used to solve everyday use cases that are driving Redis' popularity.
Jul. 28, 2016 06:30 PM EDT Reads: 1,660
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...
Jul. 28, 2016 06:00 PM EDT Reads: 955
Organizations planning enterprise data center consolidation and modernization projects are faced with a challenging, costly reality. Requirements to deploy modern, cloud-native applications simultaneously with traditional client/server applications are almost impossible to achieve with hardware-centric enterprise infrastructure. Compute and network infrastructure are fast moving down a software-defined path, but storage has been a laggard. Until now.
Jul. 28, 2016 05:30 PM EDT Reads: 1,864
"My role is working with customers, helping them go through this digital transformation. I spend a lot of time talking to banks, big industries, manufacturers working through how they are integrating and transforming their IT platforms and moving them forward," explained William Morrish, General Manager Product Sales at Interoute, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 28, 2016 05:30 PM EDT Reads: 2,214
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.
Jul. 28, 2016 05:00 PM EDT Reads: 432
SYS-CON Events announced today the Kubernetes and Google Container Engine Workshop, being held November 3, 2016, in conjunction with @DevOpsSummit at 19th Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA. This workshop led by Sebastian Scheele introduces participants to Kubernetes and Google Container Engine (GKE). Through a combination of instructor-led presentations, demonstrations, and hands-on labs, students learn the key concepts and practices for deploying and maintainin...
Jul. 28, 2016 04:30 PM EDT Reads: 916
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
Jul. 28, 2016 04:30 PM EDT Reads: 1,191
Security, data privacy, reliability, and regulatory compliance are critical factors when evaluating whether to move business applications from in-house, client-hosted environments to a cloud platform. Quality assurance plays a vital role in ensuring that the appropriate level of risk assessment, verification, and validation takes place to ensure business continuity during the migration to a new cloud platform.
Jul. 28, 2016 04:15 PM EDT Reads: 376