Cencotech reports results of operations for the third quarter, July 31st, 2011

TORONTO, Sept. 27, 2011 /CNW/ - Cencotech Inc. (TSXV: CTZ) today reports the results of operations for the first nine months of fiscal 2011, ended July 31st. All amounts referenced herein are in Canadian dollars. Revenue for the third quarter was $175,945 as compared to $200,554 for the same period last year. A loss for the quarter of $112,299 ($0.00 per share) was recorded as compared to a loss from operations of $73,984 ($0.00 per share) for the three months ended July 31, 2010.

Revenue for the first nine months of fiscal 2011 was $728,595 as compared to revenue in the same period last year of $1,241,815. The Company recorded a loss of $181,624 ($0.01 per share) in the nine months ended July 31, 2011 as compared to a profit of $23,749 ($0.00 per share) in the same period last year.

K. Barry Sparks, the President of the Cencotech, stated:"While we are disappointed that sales in the third quarter did not include any new software licence transactions, purchase orders for new licenses received in the quarter were approximately $400,000 and delivery to customers of this product will be completed in the final quarter of fiscal 2011. The down payments received with the purchase orders are reflected in "Deferred Revenue" on the Company's Balance Sheet. We continue to work closely with our senior resellers to bring other opportunities forward and as well are active in attempting to broaden our reseller base. Although the weakness in the international banking marketplace continues, we remain optimistic that significant sales gains in new license agreements for our software will be forthcoming in the foreseeable future."

Cencotech Inc. products are designed to bring efficiency to the processing of currency and other value instruments in financial institutions, large retailers, public transportation operations and the gaming industry. Cencotech's proprietary software products for this market are "open-architectured" and have been developed to interface with clients' legacy systems.

The TSX Venture Exchange has neither approved nor disapproved of the information contained in this release. This Media Release may contain forward-looking statements, which reflect the Corporation's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual events could differ from those projected herein and depend on a number of factors including the success of the Corporation's sales strategies.

SOURCE CencoTech Inc.

For further information:

Mr. K. Barry Sparks
President
(416) 369-6081
kbsparks@cencotech.com

Profil de l'entreprise

CencoTech Inc.

Renseignements sur cet organisme


FORFAITS PERSONNALISÉS

Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .

ADHÉSION À CNW

Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.

RENSEIGNEZ-VOUS SUR LES SERVICES DE CNW

Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.