Welcome!

Microservices Journal Authors: Elizabeth White, Liz McMillan, Carmen Gonzalez, John Wetherill, Plutora Blog

News Feed Item

ORMI Reports Fiscal 2013 First Quarter Results

TORONTO, ONTARIO -- (Marketwire) -- 11/22/12 -- Organic Resource Management Inc. (TSX VENTURE:ORI) ("ORMI" or "the Company"), today announced its financial results for the three month period ended September 30, 2012.


--  Total revenues of $3,628,000, an increase of $55,000 or 2% from
    $3,573,000 last year. 
--  Total gross margin of $1,428,000 or 39% of revenue, an increase of
    $76,000 or 6% from $1,352,000 or 38% of revenue last year. 
--  Total operating expense of $1,309,000, a decrease of $22,000 or 2% from
    $1,331,000 last year. 
--  Net income of $45,000, an increase of $88,000 from a net loss of $43,000
    last year. 
--  Income per share of $0.01 compared to a loss per share of $0.01 last
    year. 
--  EBITDA of $462,000, an increase of $105,000 or 29% from $357,000 last
    year.

"Higher revenues, improved gross margin and lower operating costs all contributed to positive financial results for the quarter," said Charles Buehler, Chairman and Chief Executive Officer of ORMI. "As a result, net income was $45,000 for the quarter, an increase of $88,000, and EBITDA was $462,000, an increase of $105,000 or 29%. This performance was achieved in spite of the significant one-time legal and other corporate costs which were incurred as part of the proceedings related to the potential sale of the Company, as announced on October 17, 2012."

Total revenues were $3,628,000, an increase of $55,000 or 2% over Q1 2012 revenues, mainly due to a 2% volume increase in residuals collected from customers. Gross margin was $1,428,000, an increase of $76,000 or 6%, to 39% as a percentage of revenues compared to 38% for Q1 2012. Total operating expense was $1,309,000 for the quarter, a decrease of $22,000 or 2% from Q1 2012. Operating expense includes approximately $78,000 in one-time legal and other corporate costs related to the potential sale of the Company. Interest expense was $58,000 for the quarter, a decrease of $6,000 or 10% from Q1 2012.

The comparative financial statements for the three months ending September 30, 2012 along with other information may be obtained through the Company's website at www.ormi.com, or on SEDAR at www.sedar.com.

This press release is available on the Company's official on-line investor relations site for investor commentary, feedback and questions. Investors are asked to visit the investor relations section of the Company's website at www.ormi.com/ir/index.php. Alternatively, investors are asked to e-mail all questions and correspondence to [email protected] where they can also request addition to the Company's investor e-mail list to receive all future press releases and updates directly.

About Organic Resource Management Inc.

Organic Resource Management is Canada's largest provider of vacuum truck services for the collection, processing and recycling of food-related organic residuals into feedstock for biogas renewable energy production. ORMI services in excess of 10,000 grease interceptors for industrial, commercial and institutional food-industry customers across Canada on a regularly-scheduled basis. These services are a critical component of current program initiatives in North American landfill waste diversion and wastewater treatment. Further information about ORMI may be obtained at the Company's web site at www.ormi.com.

Non-IFRS Measures

The Company reports its financial results in accordance with IFRS. However, this press release contains references to certain non-IFRS financial measures such as "EBITDA". Non-IFRS financial measures are used by management to evaluate the performance of the Company. Non-IFRS financial measures do not have any meaning prescribed by IFRS and therefore may not be comparable to similar measures presented by other reporting issuers. Investors are cautioned that non-IFRS measures, such as those presented herein, should not be construed as an alternative to net income determined in accordance with IFRS as indicators of the Company's performance or to cash flows from operating activities as a measure of liquidity and cash flow.

EBITDA means net income or loss before income taxes, interest, amortization, share based compensation and gains or losses on disposal of property, plant and equipment and intangible assets. In effect, EBITDA is equal to cash flows from operating activities before changes in non-cash operating assets and liabilities.

Forward Looking Statements

Certain information contained in this press release may be forward-looking and therefore subject to unknown risks or uncertainties. The actual results, performance or achievements of Organic Resource Management Inc. may differ materially from the results, performance or achievements of the Company expressed or implied by such forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@MicroservicesExpo Stories
In today's digital world, change is the one constant. Disruptive innovations like cloud, mobility, social media, and the Internet of Things have reshaped the market and set new standards in customer expectations. To remain competitive, businesses must tap the potential of emerging technologies and markets through the rapid release of new products and services. However, the rigid and siloed structures of traditional IT platforms and processes are slowing them down – resulting in lengthy delivery ...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo in Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading in...
It's 2:15pm on a Friday, and I'm sitting in the keynote hall at PyCon 2013 fidgeting through a succession of lightning talks that have very little relevance to my life. Topics like "Python code coverage techniques" (ho-hum) and "Controlling Christmas lights with Python” (yawn - I wonder if there's anything new on Hacker News)...when Solomon Hykes takes the stage, unveils Docker, and the world shifts. If you haven't seen it yet, you should watch the video of Solomon's Pycon The Future of Linux C...
Here are a few questions to help you assess the scope of your release management challenges. Based on the answers to these questions, you can calculate your Release Management risk factor. This will help you understand what steps you need to take today to mitigate release management risks that accompany software development at scale. These 100 people don't have to be in a single group and the systems maintained don't have to be limited to a single group. Also, note that the systems supported...
SYS-CON Events announced today that Akana, formerly SOA Software, has been named “Bronze Sponsor” of SYS-CON's 16th International Cloud Expo® New York, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. Akana’s comprehensive suite of API Management, API Security, Integrated SOA Governance, and Cloud Integration solutions helps businesses accelerate digital transformation by securely extending their reach across multiple channels – mobile, cloud and Internet of Thi...
SYS-CON Events announced today that Vicom Computer Services, Inc., a provider of technology and service solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. They are located at booth #427. Vicom Computer Services, Inc. is a progressive leader in the technology industry for over 30 years. Headquartered in the NY Metropolitan area. Vicom provides products and services based on today’s requirements...
The 5th International DevOps Summit, co-located with 17th International Cloud Expo – being held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the...
SYS-CON Events announced today that Open Data Centers (ODC), a carrier-neutral colocation provider, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. Open Data Centers is a carrier-neutral data center operator in New Jersey and New York City offering alternative connectivity options for carriers, service providers and enterprise customers.
BlueBox bridge the chasm between development and infrastructure. Hosting providers are taking standardization and automation too far. For many app developers it does nothing but spawn mayhem and more work. They have to figure out how their creations live on a pre-fab infrastructure solution full of constraints. Operations-as-a-Service is what BlueBox does. BlueBox utilizes development tools such as OpenStack, EMC Razor, Opscode’s Chef and BlueBox's proprietary tools give the power to do the unor...
Enthusiasm for the Internet of Things has reached an all-time high. In 2013 alone, venture capitalists spent more than $1 billion dollars investing in the IoT space. With "smart" appliances and devices, IoT covers wearable smart devices, cloud services to hardware companies. Nest, a Google company, detects temperatures inside homes and automatically adjusts it by tracking its user's habit. These technologies are quickly developing and with it come challenges such as bridging infrastructure gaps,...
NuoDB just introduced the Swifts 2.1 Release. In this demo at 15th Cloud Expo, Seth Proctor, CTO of NuoDB, Inc., discussed why scaling databases in the cloud is challenging, why building your application on top of the infrastructure that is designed with this in mind makes a difference, and what you can do with NuoDB that simplifies your programming model, your operations model.
The 17th International Cloud Expo has announced that its Call for Papers is open. 17th International Cloud Expo, to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, APM, APIs, Microservices, Security, Big Data, Internet of Things, DevOps and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding bu...
“We are a managed services company. We have taken the key aspects of the cloud and the purposed data center and merged the two together and launched the Purposed Cloud about 18–24 months ago," explained Chetan Patwardhan, CEO of Stratogent, in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
"Blue Box has been around for 10-11 years, and last year we launched Blue Box Cloud. We like the term 'Private Cloud as a Service' because we think that embodies what we are launching as a product - it's a managed hosted private cloud," explained Giles Frith, Vice President of Customer Operations at Blue Box, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Cloud Expo New York is happening from June 9 - 11. This event brings together the worlds of Cloud Computing, DevOps, IoT, WebRTC, Big Data and SDDC. We hope to see you there-members of the Blue Box team will exhibit in booth 218 next to the DevOps area. Plus, our Chief Product Officer, Hernan Alvarez, will present his talk "The Cloud Has a Down-and-Dirty Lining" as part of the Operations track in the DevOps Summit portion of the event on June 9 at 11 am. Learn more about his session her...
It's a "given" in software development - release schedules always slip. Requirements shift, developers underestimate timelines, and quality assurance (QA) finds unexpected defects. Another law of software development is that final release dates are often inflexible. If a market or a holiday shopping season defines your release date you understand how important it is to meet a fixed timeline. Once you've promised a release to the business at the end of the quarter, you are under pressure to de...
DevOps approaches within “Unicorns” vary significantly from the reality of DevOps in the enterprise. Most enterprises manage portfolios of heterogeneous applications that are increasingly interconnected, delivered by global teams, at various stages of technology maturity, and are often encumbered by additional compliance and governance obligations. In his session at DevOps Summit, Dalibor Siroky, Director and co-founder at Plutora, will discuss the emerging and evolving experiences of Agile, Co...
Lacking the traditional fanfare associated with any technology that can use the word "container" or mention "Docker" in its press release, Ubuntu Core and its new Snappy system management scheme was introduced late last year. Since then, it's been gaining steam with Microsoft and Amazon and Google announcing support for the stripped-down version of the operating system. Ubuntu Core is what's being called a "micro-OS"; a stripped down, lean container-supporting machine that's becoming more pop...
17th Cloud Expo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises a...
Cloud computing seems destined to be the way enterprises will use information technology. The drastic cost reductions and impressive operational improvements make the transition an unstoppable trend. The “What is cloud computing?” question now, however, seems to be morphing into “Where is cloud computing going?” While software-as-a-service (SaaS) providers see their market rocketing upward as the easiest and quickest path for cloud adoption, infrastructure-as-a-service providers are suffering...