CALGARY, ALBERTA — (Marketwired) — 11/14/13 — Zedi Inc. (the “Company” or “Zedi”) (TSX VENTURE: ZED) “Our strong Q2 performance carried on through Q3 and I am pleased to report the highest quarterly revenues in the Company–s history of $28,828,000. Growth came from all areas of the business in North America – significant in that it once again reflects the value of the diversification activities that have reduced our reliance on any one single product and/or market. EBITDA also showed strong growth of 119% in Q3 2013 as compared to Q3 2012, as did gross margin, which was 43.6%, up from 40.3% last year. Both of these measures highlight the strength of Zedi–s operational efficiencies. The other key metric for Zedi is recurring revenue, the basis of our business model and it too delivered growth – 11% higher than 2012. To summarize, Q3 was a quarter in which all areas of our business performed well which propelled us to our best revenue results ever,” says Matthew Heffernan, President and CEO of Zedi. The Q3 financial statements and MD&A are filed on SEDAR and can be accessed at or on the Company–s website at .
Highlights of the Q3 2013 results include:
Zedi Inc. (TSX VENTURE: ZED) helps the world–s oil and gas producers be more productive, more profitable, and more sustainable through technology backed by expert consultation and services. Our 60 years of continuous operations in North America and recognition as one of the industry–s best workplaces, sets us apart in the production operations landscape. With our unique combination of award-winning automation, data management, and field and professional services, we offer solutions to our customers– challenges and help them realize their production potential.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Information
Certain statements and information contained in this press release may constitute forward-looking information within the meaning of applicable Canadian securities legislation. Specifically, this press release contains statements regarding Zedi–s financial performance, cash flow, growth expectations, diversification and acquisition activity, strategies, assumptions regarding potential customer and market activities, recurring revenue metrics and related expectations of sustainability. These statements are based on certain assumptions and analysis made by Zedi in light of its experience and its perception of historical trends, current market conditions and expected future market developments, as well as other factors it believes are appropriate in the circumstances. However, whether actual results, performance or achievements will conform to Zedi–s expectations and predictions is subject to a number of known and unknown risks and uncertainties which could cause actual results to differ materially from Zedi–s expectations. Consequently, all of the forward-looking information and statements made in this press release are qualified by this cautionary statement and there can be no assurance that the actual results or developments anticipated by Zedi will be realized or, even if substantially realized, that they will have the expected consequences to or effects on Zedi or its business or operations. Except as may be required by law, Zedi assumes no obligation to publicly update any such forward-looking information and statements, whether as a result of new information, future events, or otherwise.
Contacts:
Zedi Inc.
Debra Deane
Investor Relations
403-802-7092
403-444-1101 (FAX)