Revenue up slightly at ZIM but company records another unprofitable quarter

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.

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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.”

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