Odesia Group Inc.

Odesia Group Inc.

May 30, 2013 08:00 ET

ODESIA Announces Increase in Revenue for the First Quarter of Fiscal 2013

MONTREAL, QUEBEC--(Marketwired - May 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 2013 first quarter financial results.

Q1 2013 - A Quarter of Innovation

"We have made the first step towards our visionary strategy the Unified Business Intelligence (UBI) by introducing the innovative EPC 8 to the market. EPC 8 is a leading Operational Intelligent solution that bridges the gap between BI and BPM and helps monitor and enhance business performance and assist decision-making", declared Mr. Nicolas Bonnafous, President and CEO of ODESIA.

2013 Outlook

Our IT services business units are growing and are contributing positively. Software sales are below budget, however following the release of the EPC8 version, the Company has been reducing operational expenses and will be focussing on selling the software thru its distributor's network. The Company's top priority is to achieve profitability in all its divisions for 2013.

The Company also announces the resignation of Mr. Richard Brossoit as Interfacing's president. Mr. Brossoit has served as an executive for almost two years, overseeing the M&A process and managing Interfacing since its acquisition by ODESIA.

First Quarter Key Highlights

  • Released EPC 8, a friendly sense-and-respond solution, that helps measure and monitor the entire organizational Key Performance Indicators, anticipate problems, identify opportunities and reduce time and cost.
  • Odesia Interfacing Enterprise Process Center® is included by the Leading Analyst Firm Gartner within the 2013 Operational Intelligence Platforms.
  • Listed within the top 250 Canadian ICT companies in the 2012 edition of the Branham300.
  • Significantly increased its international distribution channel to intensify its visibility in the global marketplace, including emerging markets such as Asia and the Middle-east.

First Quarter Financial Highlights

  • Revenues of $3,810,000, an increase of $797,000 or 26% compared to Q1 2012;
  • The 2012 acquisitions made $906,000 of revenue;
  • Gross profit of 24% or $908,000;
  • Operating loss of $235,000 and Net loss of $321,000;

Selected financial information

Income statement

($000's except per share amounts) For the first quarter ended March 31, (unaudited)
2013 2012
Revenue 3,810 3,013
Gross profit 908 852
Operating profit (loss) (235 ) 64
Net earnings (loss) (321 ) 15
Basic and diluted net earnings (loss) per share attributable to shareholders of ODESIA Group Inc. (0.010 ) 0.000

Statement of financial position

March 31, 2012
December 31, 2012
Total assets 8,058 7,384
Convertible debentures and long-term debt including short-term portion 1,834 1,858

Additional information on the first quarter ended March 31, 2013

The financial information regarding the first quarter ended March 31, 2013 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


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.

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