Revenue at Ottawa’s ZIM Corp. (OTCBB: ZIMCF) was up during its third quarter of 2014 and while that shrunk the company’s losses, it wasn’t enough to push it back into the black.
The software company reported revenue of US$357,334 during the three-month period that ended on Dec. 31, 2013.
That’s up slightly from the same period the year before, when the company reported revenue of $334,577. It’s also an increase from the previous quarter, when it had revenue of $296,024.
(Sponsored)
Giving Guide 2025: The Ottawa Mission
The Ottawa Mission is our city’s oldest and largest emergency shelter. Since 1906, we have been at the forefront of caring for people who are experiencing hopelessness and in need.
Giving Guide 2025: Shepherds of Good Hope Foundation
Shepherds of Good Hope is one of the largest not-for-profit organizations dedicated to meeting the needs of those experiencing homelessness and precariously-housed people of all genders in the city of
Despite the increased revenue, ZIM posted a loss for the quarter of $62,989. That’s compared to a profit of $91,087 during the same period last year and a loss of $112,239 during the previous quarter.
The company blamed the loss on a decline in the sale of licences for its database software and increased costs related to a consulting project in Brazil
“As previously reported we have been negatively impacted by project delays related to our enterprise database software and consulting services.” said Michael Cowpland, the company’s president and CEO, in a press release.
“However, we resolved a number of these delays which resulted in increased revenue this quarter. We remain confident in delivering a considerable portion of our remaining projects in the current fiscal year.”
