ODESIA Announces 2011 Third Quarter Results
November 23 2011 - 7:00AM
Marketwired Canada
ODESIA Group Inc. ("ODESIA" or "the Company")(TSX VENTURE:ODS), an international
corporation specialized in delivering business-intelligence solutions ("BI"),
decision-process management and business analytics, is pleased to announce its
2011 third quarter results.
"During the last quarter we have invested in ourselves to make sure ODESIA is
better positioned in the BI market. Thanks to our new representatives and
promotional efforts, we have won new customers such as TVA, AVEOS, SNCF, Lafarge
and Bouygues Telecom" declared Nicolas Bonnafous, ODESIA's President and Chief
Executive Officer.
Third quarter 2011 Highlights
-- Sales of the Company decreased by $297,000 or 11%, from $2,704,000 in
Q3 2010 to $2,407,000 in Q3 2011.
-- ODESIA decided to cease activities in Mexico following a strategic
review of available options regarding its Mexican subsidiaries.
-- ODESIA realized an improved gross profit of 36% or $855,000 in Q3 2011
compared to a gross profit of 29% or $781,000 in Q3 2010.
-- The Company realized an operating profit of $167,000, an increase of
$16,000, or 11% from the operating profit of $151,000 realized during
the same quarter last year.
-- ODESIA realized net earnings of $86,000 compared to $174,000 during the
same period last year.
Selected financial information Selected financial information
Income statement
For the three-month period For the nine-month period
($000's except per ended September 30, ended September 30,
share amounts) (unaudited) (unaudited)
--------------------------------------------------------
2011 2010 2011 2010
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Sales 2,407 2,704 7,177 8,922
Gross profit 855 781 2,283 2,622
Operating profit 167 151 216 540
Net earnings
(loss) 86 174 (62) 177
Basic and diluted
net earnings
(loss) per share
attributable to
owners of ODESIA 0.002 0.005 (0.003) 0.005
Statement of financial position
September 30, December 31, January 1,
($000's) 2011 2010 2010
---------------------------------------------------------------------------
Total assets 4,326 4,824 5,317
Convertible debentures and long-
term debt including short-term
portions 864 847 847
Additional information on the third quarter ended September 30, 2011
The financial information regarding the third quarter ended September 30, 2011
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 is an international corporation specialized in business-intelligence (BI)
solutions, decision-process management and business analytics for large and
medium-sized companies. The Company provides customers with a complete solution,
regardless of technical challenges involved. For more information visit us at
www.odesia.com
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.