ODESIA presents its 2009 third quarter results

Profitability restored after three-year hiatus

MONTREAL , Nov. 26 /CNW Telbec/ - ODESIA Group Inc. ("Odesia") (TSX-V:ODS), an international corporation specialized in business intelligence solutions (BI), decision processes and data warehousing, announced today its financial results for the third quarter of 2009.

ODESIA posted sales of $3.2 million for the third quarter ended September 30, 2009 compared to $4.4 million in the third quarter of 2008. Accordingly, the cost of services provided, operating and administrative expenses also diminished, decreasing by more than $1.0 million during the same period. Net earnings realized for the third quarter of 2009 amounted to $23,971 , or $0.001 per share, compared to a net loss of $132,077 , or $0.005 per share, for the third quarter of 2008, representing the first profitable quarter since December 2006 .

"Our performance in the third quarter of 2009 clearly demonstrates our capacity to adjust our cost structure to our revenues, and reflects the effectiveness of the Company's recently implemented cost-control measures. Despite the severe economic downturn affecting several markets, we have restored profitability and are now better positioned to transition from a consulting model to a value-added business model featuring turnkey business solutions" declared Mr. Nicolas Bonnafous , President and Chief Executive Officer of ODESIA.

    
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    Selected financial information (unaudited)

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                                 For the three-month      For the nine-month
                                        period                  period
                                  ended September 30,     ended September 30,
                                    2009        2008        2009        2008
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    Sales                      3,218,018   4,350,008  10,671,617  12,856,673
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    EBITDA *                   107,534     194,752     (98,421)     99,052
    Net earnings (loss) and
     comprehensive income
     (loss)                       23,971    (132,077)   (499,225) (1,548,730)
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    Basic and diluted net
     earnings (loss) per share    $0.001     ($0.005)    ($0.017)    ($0.055)
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    * EBITDA is defined as earnings before amortization of tangible and
        intangible assets, financial expenses, and income taxes

    Additional highlights

    - The Company realized operating cash flows of $50,722 in the third
      quarter of 2009 and $206,375 for the first nine months of its fiscal
      year;

    - At the end of the quarter ODESIA revitalized its board of directors
      with the nominations of two new board members, Mr. Michael Perrault and
      Mr. Timothy R. Murdoch, to replace outgoing directors;

    - The Company announced a strategic partnership with InterTrade allowing
      for the launch of a new business solution to help decision making for
      supply-chain optimization. This agreement will allow for the
      combination of ODESIA's business-intelligence expertise and
      InterTrade's network of customers, mostly located in the United States.

    Additional information on the three- and nine-month period ended on
    September 30, 2009
    

The financial information regarding the quarter and nine-month period ended September 30, 2009 should be read in parallel with the Company's financial statements and MD&A (Management Discussion and Analysis). These documents can be found on www.sedar.com

About ODESIA Group Inc.

ODESIA is an international corporation specialized in business-intelligence (BI) solutions, decision processes and data warehousing for large corporations. The Company's goal is to provide customers a complete solution, no matter the technical challenge. For more information, visit us at www.odesia.com.

Disclaimer in regards to forward-looking statements

This press release contains forward-looking statements which reflect ODESIA's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual results could differ materially from those projected herein.

    
    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.
    

For further information: ODESIA Group Inc.: Nicolas Bonnafous, President and CEO, [phone], [email protected]; Jasmin-Dumais Financial Communications inc.: Mr. Frédéric Dumais, Partner, [phone], [email protected]; Mr. Marc Jasmin, Partner, [phone], [email protected]