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ZIM Corporation Reports Q1 Quarter 2011 Financial Results

ZIM Corporation announced its financial results for its first quarter ended June 30, 2011, and reported revenues of US $571,316, an increase of 17% from the $487,310 for the same period last year. This quarter’s increase was due to increased sales of enterprise database software and consulting services with a smaller portion of the increase related to favorable foreign exchange fluctuations.
Net income for the quarter ended June 30, 2011 was $120,791 or a basic and diluted earnings per share of $0.001 compared to net loss for the same period last year of $29,383 or a basic and diluted loss per share of $0.000. The increase in net income principally reflects the increase in database software sales and the Company’s continued curtailing of selling and general administrative expenses.