Profits at last

Michael Cowpland’s ZIM Corp. may finally be seeing the light at the end of the tunnel, posting a profit for the first time since going public in Oct., 2003. The software and services company reports income of $155,758 ($0.2 cents a share) for Q3, compared to a loss of $507,117 ($0.6 cents a share) a year ago. Revenue was up 34.9% to $698,562. “Results from this quarter reflect our efforts to improve operations and focus on our higher-margin product segments,” says CEO Mr. Cowpland. “We’ve made good progress in reducing our operating expenses and continue to look for additional savings as we pursue opportunities related to our Internet television, mobile, and database products and services.” The company has recently been distancing from its embattled text-messaging support SMS aggregation business, which has in the past hurt its bottom line while trying to gain a foothold in a saturated market.

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