Odesia Shows 100% Revenue Growth in the Second Quarter of 2007



    
    Record sales in Europe

    TSX VENTURE: ODS
    

    MONTREAL, Aug. 30 /CNW Telbec/ - ODESIA Group Inc. ("ODESIA") (TSX
VENTURE:ODS) is pleased to announce it has doubled revenues to $3.8 million in
the second quarter of 2007, up 100% over revenues of $1.7 million in the
second quarter of 2006. Revenues originating from Europe reached $2.3 million,
or 60% of the consolidated business.
    "The second quarter of the year was very strongly supported by new
contracts and we are very pleased with the overall performance," says Nicolas
Bonnafous, ODESIA President and Chief Executive Officer. "We have maintained
strong growth both in Canada and Europe, and are considering expansion into
other territories in the near term. Odesia is an intellectual capital business
and in that regard we have had positive changes during the quarter, promoting
two key employees of Odesia Solutions: Denise Branco Goncalves to
Vice-President Business Development and Yves Elements to Vice-President
Operations."
    Looking forward, Jean-Pierre Dube, Executive Vice President of Odesia
Group will be relocating to Paris to support and shape growth out of the
European office.
    Also, Vice President and CFO Christian Dufour is leaving Odesia to pursue
other opportunities: search for a replacement is in progress.
    
    Highlights of financial results for the second quarter and first six
    months of 2007:

    - Revenues up 100% in 2007 to $3,854,100 compared to $1,728,600 in 2006
      for the three month period and $6,416,100 compared to $2,997,100 in the
      six month period.
    - EBITDA was $204,300 compared to a loss of $158,900 for the three month
      period, and $126,800 compared to a loss of $220,000 for the six-month
      period.
    - The Company had a loss of $5,700 for the second quarter of 2007
      compared to a loss of $131,900 for the quarter ended June 31, 2006. The
      loss was $116,200 for the six-month period compared to a loss of
      $180,800 last year.
    
    The complete financial statements may be seen on SEDAR at www.sedar.com
or on the Company's website at www.odesia.com.

    About ODESIA Group

    ODESIA Group is a Canadian-based international corporation specializing
in BI solutions, decision processes, and data warehousing for large
corporations. The management team at ODESIA has extensive knowledge and
experience in leading the execution of BI processes in large enterprises. The
team of nearly 150 professionals offers a high level of service and
specialization. The partnerships that ODESIA has formed with diverse BI
service providers constitute a further important feature of its offering. The
Company's goal is to provide customers a complete solution, no matter the
technical challenge. For more information, see www.odesia.com .
    
    ODESIA GROUP INC.

    Consolidated Earnings
    (unaudited)
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    All amounts expressed in thousands of $

                                 For the three-month       For the six-month
                               periods ended June 30,  periods ended June 30,
    -------------------------------------------------------------------------
                                    2007        2006        2007        2006
                                       $           $           $           $

    Sales                          3,854       1,729       6,416       2,997
    -------------------------------------------------------------------------

    Cost of services provided,
     operating and
     administrative expenses       3,650       1,888       6,289       3,217
    -------------------------------------------------------------------------

    EBITDA                           204        (159)        127        (220)
    -------------------------------------------------------------------------

    Amortization of tangible
     assets and client list           23          14          46          25
    -------------------------------------------------------------------------

    Financial expenses               136          14         148          25
    -------------------------------------------------------------------------

    Income taxes                      51         (49)         59         (83)
    -------------------------------------------------------------------------

    Non-controlling interest           -          (6)         10          (6)
    -------------------------------------------------------------------------

    Net loss                          (6)       (132)       (116)       (181)
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------

    Net loss per share,
     basic and diluted            (0.000)     (0.005)     (0.004)     (0.007)
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    
    This release may contain forward-looking statements. Various factors
could cause actual results to differ materially from those projected in
forward-looking statements. Although the Company believes that the
forward-looking statements contained herein are reasonable, it can give no
assurance that the Company's expectations are correct. All forward-looking
statements are expressly qualified in their entirety by this cautionary
statement.
    
    The TSX has neither approved nor disapproved of the information contained
    herein
    




For further information:

For further information: Nicolas Bonnafous, President and CEO, ODESIA
Group, (514) 876-1155, ext. 102, nbonnafous@odesia.com; Nicole Blanchard,
Managing Partner, Sun International Communications, (450) 627-6600,
nicole.blanchard@isuncomm.com

Organization Profile

ODESIA GROUP INC.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890