Science & Technology
Science and Technology
Science and Technology
Wed, May 1, 2013
Tue, April 30, 2013 
April 30, 2013 16:30 ET
ODESIA Announces its 2012 Year-End Financial Results
MONTREAL, QUEBEC--(Marketwired - April 30, 2013) - 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 31st, 2012.
2012 - A year of Strategic Acquisitions & Innovations
"2012 was an important year for our company, in order to strengthen our relationships with current clients and position ourselves for growth in new markets, we acquired technology and skills throughout the year. Those decisions are part of our "Unified Business Intelligence" strategy and will position ODESIA strongly for 2013 forward", declared Mr. Nicolas Bonnafous, President and CEO of ODESIA.
Acquisition
- Acquired Interfacing Technologies Corporation, a Business Process Management software pioneer in May 2012 for $1,233,000 and issuance of 4 Million shares.
- Acquired Gestion Passerelle Inc., a Business Consulting company, in September 2012, for $845,000 and issuance of 300,000 shares.
Awards & Recognitions
- Awarded with the Deal Maker of the Year Award from the International Publication 'Finance Monthly' for successfully integrating Interfacing Technologies;
- Listed within the top 250 Canadian ICT companies in the 2012 edition of the Branham300;
- Received an Honorable mention in the 2012 Business Process Analysis Gartner Magic Quadrant.
Fourth Quarter Key Highlights
- Completed the integration of Gestion Passerelle in ODESIA Solutions;
- Re-organized the R&D team under new management;
- Launch Interfacing EPC version 7.5; a more robust version of the BPM product;
- Expanded market reach in Australia through a new reliable Asia-Pacific Partner Program.
2012 Financial Highlights
- Revenues of $12,723,000, an increase of 2,589,000 or 26% compared to 2011;
- $969,000 organic growth in revenue and $1,620,000 due to the 2012 acquisitions
- Gross profit of 30% or $3,857,000;
- Operating loss of $504,000 and Net loss of $845,000
- Basic and diluted net loss per share attributable to owners of ODESIA of $0.026
- Increased total equity attributable to the shareholders of ODESIA by $835,000
Selected financial information
| For the years ended December 31 | 2012 | 2011 | ||
| $ | $ | |||
| Revenue | 12,723,000 | 10,134,000 | ||
| Gross profit | 3,857,000 | 3,545,000 | ||
| Operating profit (loss) | (504,000 | ) | 636,000 | |
| Net earnings (loss) | (845,000 | ) | 799,000 | |
| Basic and diluted net earnings (loss) per share attributable to shareholders of ODESIA | ||||
| From continuing operations | (0.026 | ) | 0.009 | |
| From discontinued operations | - | 0.017 | ||
| (0.026 | ) | 0.026 | ||
| Comprehensive income (loss) | (842,000 | ) | 867,000 | |
| December 31, 2012 | December 31, 2011 | |
| $ | $ | |
| Total assets | 7,384,000 | 4,119,000 |
| Convertible debentures and long-term debt including short-term portion | 1,858,000 | 565,000 |
Quarterly data (unaudited)
The following table is a summary of certain information on the Company's last four quarters:
2012 | Q1 March 31 $ | Q2 June 30 $ | Q3 September 30 $ | Q4 December 31 $ | ||||
| Revenue | 3,013,000 | 2,948,000 | 3,038,000 | 3,723,000 | ||||
| Net earnings (loss) | 15,000 | (172,000 | ) | (292,000 | ) | (395,000 | ) | |
| Basic and diluted net earnings (loss) per share attributable to shareholders of ODESIA | ||||||||
| From continuing operations | 0.000 | (0.005 | ) | (0.008 | ) | (0.011 | ) | |
| From discontinued operations | - | - | - | - | ||||
| 0.000 | (0.005 | ) | (0.008 | ) | (0.011 | ) | ||
Additional information on the fiscal year ended December 31, 2012
The financial information regarding the year ended December 31, 2012 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 ].
About ODESIA
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.
