Ottawa-based Magor Corporation announced financial results for its 2015 second quarter Tuesday that boasted a 64 per cent increase in total revenue compared with the same quarter last year.
Revenue for the visual collaboration solution provider came in at $563,171, with recurring revenue at $62,779. Recurring revenue was up almost 68 per cent compared with the second quarter of 2014.
Order backlog was up 37 per cent, to a record $900,097.
OBJ360 (Sponsored)
The University of Ottawa Faculty of Health Sciences building was designed and constructed within 24 months, a point of pride for WSP in Canada (WSP), which was the prime designer
On par with purpose: 2025 Ottawa Tech Open scores big for junior achievement
The Ottawa Tech Open returned to the greens this summer for its highly anticipated second year, uniting startup founders, entrepreneurs, investors, and members of the city’s vibrant tech ecosystem, all
“We have been making significant progress with a number of existing and new accounts, as evidenced by the increase in the amount of order backlog we reported for the quarter,” president and CEO Mike Pascoe said in a statement.
Operating expenses dropped 9.5 per cent from the same quarter last year, to just under $1.5 million, and net loss was just under $1.4 million, down about $100,000 from the second quarter of 2014.
Mr. Pascoe said a Windows version of the company’s software is in the final testing stages and should be released within 30 days. He said that should open new market opportunities for the company.
