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)
City Building: Hydro Ottawa, powering our city’s future sustainably through district energy systems
Ottawa’s rapid growth and commitment to sustainability will place an increased demand on the city’s energy infrastructure. To meet these challenges, the city will need innovative solutions that enhance capacity
Ottawa’s Paterson Group offers a million reasons to give
There’s a particular image that David Gilbert, President of Ottawa-based Paterson Group, is delighted to share. It’s a map of the Ottawa area and beyond covered with thousands of dots,
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.”
