GlobalWise Investments Reports Financial Results for Third Quarter 2013
(firmenpresse) - COLUMBUS, OH -- (Marketwired) -- 11/14/13 -- GlobalWise Investments, Inc. (OTCQB: GWIV) (OTCBB: GWIV) (the "Company") () and its wholly owned subsidiary Intellinetics, Inc., a leading-edge technology company focused on the design, implementation and management of cloud-based Enterprise Content Management ("ECM") systems in both the public and private sectors, announce financial results for the third quarter ended September 30, 2013.
The Company's total revenues for the quarter ended September 30, 2013 were $381,078 as compared to $711,737 for the three months ended September 30, 2012, a decrease of $330,659, or 46%, primarily attributable to decreases in revenues from software licenses with and without professional services and consulting services. Gross profits were $266,162 for the quarter ended September 30, 2013 as compared to $484,205 for the quarter ended September 30, 2012, representing a decrease of 45%, primarily as a result of the decrease in revenues.
GlobalWise's costs of revenues were $114,916 and $227,532 for the quarters ended September 30, 2013 and September 30, 2012, respectively, representing a decrease of $112,616 or 49%. The decrease in cost of revenues is primarily the result of a decrease in third-party costs in connection with a client document conversion project in 2012. As a result, gross margins were 70% and 68% for the quarters ended September 30, 2013 and September 30, 2012, respectively, an increase of 2%.
Total operating expenses for the quarter ended September 30, 2013 were $767,533 as compared to $889,776 during the quarter ended September 30, 2012, representing a decrease of $122,243 or 14%.
As a result, GlobalWise reported a net loss of $541,412 for the quarter ended September 30, 2013 compared to a net loss of $492,607 for the quarter ended September 30, 2012, representing an increase of $48,805.
Matthew Chretien, Interim President and CEO of GlobalWise stated, "While our revenue growth has slowed down, public awareness of cloud-based computing, storage and retrieval is helping our marketing efforts to the smaller SMB clients. Our software as a service (SAAS) offering Intelli-Cloud™ is sold through our expanding base of channel partners that creates a low-cost sales delivery mechanism coupled with a high-margin software product. The recent conferences we attended, is helping us broaden our message to a larger group, as well as increase our number of channel partners. Our channel partnerships with companies like MWAi are gaining traction and I was honored to participate in the 2013 Innovation Fair in Japan with the rest of the Technology United members. I am enthusiastic regarding the expected increased performance and commitment from our channel partners, but still expect fluctuations in revenue as we evolve from historically premised-based software solutions sold over a long sales cycle to cloud-based solutions."
GlobalWise Investments, Inc., via its wholly owned subsidiary Intellinetics, Inc., is a Columbus, Ohio based Enterprise Content Management (ECM) pioneer with industry-leading software that delivers cloud ECM based solutions on-demand. The Company's flagship platform, Intellivue™, represents a new industry benchmark and game-changing solution by enabling clients to access and manage the content of every scanned document, file, spreadsheet, email, photo, audio file or video tape -- virtually anything that can be digitized -- in their enterprise from any PC, laptop, tablet or smartphone from anywhere in the world.
For additional information, please visit the Company's corporate website:
GlobalWise Investments, Inc.
Matthew Chretien
Interim President & CEO
614-388-8909
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 14.11.2013 - 21:30 Uhr
Sprache: Deutsch
News-ID 316882
Anzahl Zeichen: 0
contact information:
Town:
COLUMBUS, OH
Kategorie:
Networking
Diese Pressemitteilung wurde bisher 261 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"GlobalWise Investments Reports Financial Results for Third Quarter 2013"
steht unter der journalistisch-redaktionellen Verantwortung von
GlobalWise Investments, Inc. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
