ODESIA Group Inc.
TSX VENTURE : ODS

ODESIA Group Inc.

May 27, 2015 18:00 ET

ODESIA Announces Its 2015 First Quarter Financial Results

MONTREAL, QUEBEC--(Marketwired - May 27, 2015) - ODESIA Group Inc. (TSX VENTURE:ODS), a Canadian Information Technology consulting and solutions company, specialized in Business Intelligence and Big Data Analytics is pleased to announce its financial results for the first quarter ended March 31, 2015.

Q1-2015 Key Highlights

  • For the last months, our IT market was not in a growth phase and prices for services were under constant pressure. We have proactively controlled and reduced our expenses in order to operate in theses market conditions. During the quarter, our business development team continued to add several business partners to our established list. This decision helped us in getting more opportunities.
  • Listed within the top 250 Canadian ICT companies in the 2014 edition of the Branham300; the most comprehensive listing of the top non-governmental organizations operating in the Canadian Information and Communication Technology (ICT) industry.
  • During the quarter, we have started to represent and resell Informatica solutions in our client base; although it is not material in our Q1 results, we see a lot of interest for Informatica Information Lifecycle Management (ILM) and Master Data Management (MDM) solutions.

Selected financial information

For the first quarter ended March 31, 2015 2014
$ $
Revenue 1,553,000 1,745,000
Gross profit 290,000 384,000
Operating loss (44,000 ) (170,000 )
Net loss (54,000 ) (187,000 )
Basic and diluted net loss per share attributable to shareholders of ODESIA
From continuing operations
(0.001 ) (0.005 )
Comprehensive income (54,000 ) (187,000 )
March 31, 2015 December 31, 2014
$ $
Total assets 2,709,000 3,242,000
Convertible debentures and long-term debt including short-term portion 303,000 303,000

Quarterly data (unaudited)

The following table is a summary of certain information on the Company's last four quarters:

Q1 Q2 Q3 Q4
2015 $ $ $ $
Revenue 1,553,000
Net earnings (loss) (54,000 )
Basic and diluted net loss per share (0.001 )
2014 Q1 Q2 Q3 Q4
Revenue 1,745,000 1,685,000 1,521,000 1,467,000
Net earnings (loss) (187,000 ) (220,000 ) (28,000 ) (612,000 )
Basic and diluted net loss per share (0.005 ) (0.005 ) (0.001 ) (0.015 )

Shareholders' Annual General Meeting

On behalf of ODESIA's Board of Directors and Management, I invite you to attend the Shareholders' Annual General Meeting on June 26th, 2015. The Annual General Meeting provides an opportunity to hear Odesia's senior managers' statements firsthand and to ask questions. We encourage you to use the power of your proxy by voting your shares, in accordance with the guidelines contained in the Company's circular.

Additional information on the first quarter ended March 31, 2015

The financial information regarding the quarter ended March 31, 2015 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.

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