ZIM posts profits

ZIM-cropped.pngOTTAWA – ZIM Corp. realizes an 86% increase in net profits for fiscal 2009, but sales continue downward despite new deals for its enterprise database offerings. ZIM, headed by high-profile serial entrepreneur Michael Cowpland, was US$153,513 in the black, only the second time the 12-year-old company has had a profitable year. Software sales are up 27.6% to $1.46 million, though revenue from the firm’s mobile business are slashed to $367,723 from $843,162. Totalled, revenues decreased 8% from fiscal 2008 to $1.83 million.

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