Jun 12, 2015, 01:31 ET
CRYSTAL RIVER, Fla., June 12, 2015 /PRNewswire/ -- B-Scada (OTC: SCDA) reports Q2 results as filed with the SEC (for details, please visit http://www.sec.gov/). Revenue for the six months ending April 30, 2015 was $1,000,194, up from $843,546 for the same period in 2014. While the first quarter improved over the previous year, downward pressure on revenue is occurring as a result of the low price of crude oil. B-Scada customers involved in the oil and gas industry have drastically reduced consulting service contracts with the company. On a positive note, the Spanish subsidiary of B-Scada is now contributing revenue and is operating at break-even, offsetting some of the loss seen from the petrochemical sector. Continued downward pressure from petrochemical is expected to continue into early 2016.
"Our strategy for this fiscal year continues to focus on increased marketing activities growing our brand awareness and presence which will result in losses for the year. We expect to return to profitability in the next fiscal year.
"Status Enterprise pilot projects continue, but have not generated expected revenues. Status Enterprise sales to date have been smaller pilot deployments which have not yet translated into additional licenses.
Our newly launched low cost sensors are already producing revenue. Sales include two sales to Africa for monitoring of commercial hotels solar panels on commercial buildings. Monitoring of these deployments will be done on a subscription basis using the B-Scada VoT Platform.
"Our IoT system has been impressive since launching in the spring. We have partnered with several sensor manufacturers to allow their sensor data to be used within the VoT Platform. Some are working on bundles including sensor hardware and B-Scada software. We are in negotiations to have our IoT Platform promoted by two significant cellular carriers. We have equipment manufacturers evaluating the system to be used as a monitoring solution to be white labeled and distributed with their equipment. Other opportunities with partner companies include water/waste water, smart cities and data centers.
"Our outlook for fiscal 2015 will be for lower than expected revenues for the last two quarters due primarily to the slow-down in the petrochemical sector, and the slow uptake of additional Status Enterprise licenses. We are however extremely optimistic for fiscal 2016, expecting growth in our Spanish Subsidiary, sensor sales and IoT platform. We also expect Status Enterprise licenses to increase and are seeing demand for training growing.
"We would like to thank our shareholders for their continuing support."
B-Scada PR Contact
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SOURCE B-Scada, Inc.
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