GlobalWise Investments, Inc. (GWIV) Posts Q3 Financial Results
GlobalWise Investments, a provider of cloud-based Enterprise Content Management (ECM) solutions through wholly owned subsidiary Intellinetics, has reported its third-quarter financial results for the three months ended September 30, 2013. Total revenues decreased 46 percent to $381,078, as compared to $711,737 for the comparable quarter of 2012. The company primarily attributes the year-over-year decreases to software licenses with and without professional services and consulting services. Gross profits were $266,162, as compared to $484,205 for the third quarter last year, representing a decrease of 45 percent primarily as a result of the decrease in revenues. "While our revenue growth has slowed…