B-Scada Group Releases Preliminary Q3 Financials - IoT Platform Sales Increasing
CRYSTAL RIVER, Fla., Aug. 20, 2015 /PRNewswire/ -- B-Scada, Inc. (OTC:SCDA) has released their preliminary unaudited Q3 results for the quarter ending July 31, 2015.
Highlights
- IoT Platform and Status Enterprise software sales increasing.
- Numerous new systems deployed globally.
- Revenue growth despite downturn in Petrochemical.
B-Scada, Inc. (B-Scada Group) includes B-Scada, Inc., B-Scada Soluciones Industriales SL. and Monitor Sensing Technologies Inc. B-Scada provides software and hardware solutions for the monitoring and analysis of real time data in the SCADA (Supervisory Control and Data Acquisition) and IoT (Internet of Things) domains. B-Scada products are sold worldwide in various verticals including building automation, transportation, smart grid, manufacturing, mining and petrochemical.
Despite the impact of the price of oil, which caused a considerable decline in our consulting services income, revenue for the nine months ending July 31, 2015 was $1,463,690, an increase of 3.2% over the previous year. The sharp declines in our consulting revenues were offset by increases in revenue from our Spanish operations and our Technology Licensing. The company has been transitioning its software focus from Status Machine Edition to Status Enterprise and our IoT Platform. Commercial Software Sales were up 15% compared to the same quarter last year, Status Enterprise and IoT Platform software sales now make up the largest share of commercial software revenues. Commercial Software revenue for Q3 2015 was the best quarterly result in the past 8 quarters. We expect this trend to continue with commercial software sales increasing in 2016 due to demand growth in Status Enterprise, our IoT Platform and increases in recurring support which have started to influence revenue.
Our IoT Platform launched this spring has produced some initial customer wins including an enterprise IT management solution for one of Taiwan's leading telecommunications companies, commercial office space monitoring in Africa, and solar panels in Singapore. Status Enterprise has also had customer wins including a deployment in South America for one of the world's largest copper producers. United States deployments include monitoring irrigation systems at a public University campus and multiple deployments for commercial boilers and aqua culture. B-Scada has also established relationships with a leading hardware provider who will start bundling our software with their hardware in Q4 2015.
Our plans for 2014-2015 included establishing our IoT Platform, increasing our European presence with the opening of our subsidiary in Spain, and expanding the languages the company operates in from English only to English, Spanish and Portuguese. The opening of our Spanish branch has been a success.
Plans for 2015-2016 will be growth focused, establishing Monitor Sensing Technologies Inc. (MST) our sensor technology arm which focuses on providing low cost sensors for the residential and light commercial market. Our Status Enterprise and IoT Platform will be enhanced to include connectivity to MST sensors and basic maintenance management capabilities. This new functionality – along with our existing monitoring, notification and workflow – will result in a true predictive maintenance solution for SCADA and IoT.
As a whole, these efforts will position B-Scada as a global 'go to' company for monitoring of live data. From monitoring a hotel room or simple commercial boiler to controlling an assembly line or monitoring key point indicators for a group of power plants, B-Scada can provide end to end solutions including local or cloud based software, sensors, consulting and professional services.
| B-SCADA, INC. |
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| CONSOLIDATED STATEMENTS OF OPERATIONS |
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| [UNAUDITED] |
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| From |
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| For the Nine Months Ended |
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| July 31, |
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| 2015 |
2014 |
|||
| Revenue |
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| Technology Licensing and Support |
$1,261,919 |
$1,194,634 |
||
| Commercial Software |
201,772 |
223,227 |
||
| Total Revenues |
1,463,690 |
1,417,861 |
||
| Operating Expenses |
||||
| Technology Licensing and Support |
261,072 |
134,435 |
||
| Commercial Software |
322,497 |
150,189 |
||
| Sales and Marketing |
470,660 |
254,054 |
||
| Research and Development |
69,548 |
87,450 |
||
| General and Administrative |
781,848 |
428,751 |
||
| Depreciation and Amortization |
12,962 |
7,752 |
||
| Total Operating Expenses |
1,918,586 |
1,062,631 |
||
| Operating Income (Loss) |
-454,896 |
355,230 |
||
| Other Income (Expenses) |
||||
| Interest Income |
1,827 |
891 |
||
| Interest Expense |
-4,335 |
-2,355 |
||
| Interest Expense-Related Party |
||||
| Total Other Income (Expenses) - Net |
-2,508 |
-1,464 |
||
| Income (Loss) Before Income Taxes |
-457,404 |
353,766 |
||
| Benefit from Income Taxes |
-79,021 |
|||
| Net Income (Loss) |
($378,383) |
$353,766 |
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About B-Scada
B-Scada, Inc. is a leading developer of software solutions for the acquisition, logging, visualization and analysis of real time data from a variety of industrial and commercial sources. B-Scada's IoT (Internet of Things), SCADA (Supervisory Control and Data Acquisition) and HMI (Human Machine Interface) systems enable real-time monitoring, management, and optimization of business and production processes over networks both local and remote - connecting devices, databases, documents and more to the people who use them in real time.
B-Scada PR Contact
Corporate Communications
B-Scada, Inc.
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SOURCE B-Scada, Inc.
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