Budgeting, Planning & Forecasting

Budgeting, Planning & Forecasting

November 23, 2011

ODESIA Reports 11 Percent Decline in Sales in Q3 2011

ODESIA Group, a provider of business-intelligence solutions, decision-process management and business analytics, reported an 11 percent decline in sales at $2,407,000 in Q3 2011 from $2,704,000 in Q3 2010.

ODESIA posted an improved gross profit of 36 percent or $855,000 in Q3 2011 compared to a gross profit of 29 percent or $781,000 in the corresponding period last year.

The company’s realized net earnings stood at $86,000 in Q3 2011 compared to $174,000 during the same period last year.

The company reported an operating profit of $167,000, an increase of $16,000, or 11 percent from the operating profit of $151,000 realized during the same quarter last year.

"During the last quarter we have invested in ourselves to make sure ODESIA is better positioned in the BI market,” said Nicolas Bonnafous, ODESIA's President and Chief Executive Officer, in a statement. “Thanks to our new representatives and promotional efforts, we have won new customers such as TVA, AVEOS, SNCF, Lafarge and Bouygues Telecom.”

ODESIA has decided to discontinue activities in Mexico following a strategic review of available options regarding its Mexican subsidiaries.

ODESIA is specialized in business-intelligence (BI) solutions, decision-process management and business analytics for large and medium-sized companies.

In October ODESIA Europe, a subsidiary of ODESIA Group, announced the acquisition of all of ASA Technologies' mandates. The acquisition of these mandates grows the potential of ODESIA Europe's consulting revenues by 10 percent over the next 12 months.

Rajani Baburajan is a contributing editor for TMCnet. To read more of Rajani's articles, please visit her columnist page.

Edited by Carrie Schmelkin

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