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.
OBJ360 (Sponsored)
How to mitigate AI legal risks by asking the right questions
Does AI hallucinate? According to local employment law expert Zoriana Priadka of Emond Harnden, it does. Find out how to mitigate your risk as an employer.
DaaS: The mobile device management solution you never heard of
DaaS or “Device as a service” is a revolutionary communications strategy for businesses that rely on mobile devices to connect their employees, and it’s offered by a company an hour’s
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.”
