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Share Name | Share Symbol | Market | Type |
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TSXV:ODS | TSX Venture | Common Stock |
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MONTREAL, QUEBEC--(Marketwired - Apr 30, 2014) - 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
2013 Financial Highlights
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 March 31 $ | Q2 June 30 $ | Q3 September 30 $ | Q4 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.
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.
ODESIA Group Inc.Mr. Nicolas BonnafousPresident & CEO514 876 1155nbonnafous@odesia.comwww.ODESIA.com
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