Cowpland’s Zim Corp. raises revenues, profit in Q2

Zim’s rising revenues, combined with some favourable accounting changes, led to profits for the Ottawa company in the second fiscal quarter of 2018.

Zim, the Ottawa-based database software firm led by veteran tech executive Michael Cowpland, recorded revenues of $209,509 for the three-month period ending June 30, an increase of roughly $60,000 from the year previous. The revenue jump came from higher software license sales, the company said in a release earlier this week.

Net income was even higher, however, at $654,530 – up from a loss of $47,540 last year. While higher revenues helped drive this profit, a change in accounting standards and a previously-unrealized gain on equity investments accounted for most of the income.

Cowpland said in a statement that he’s pleased with the progress the company has made in modernizing its database platform, and that customer feedback has been encouraging.