TORONTO, March 30 /CNW/ - Active Control Technology Inc. (TSX-V:ACT)
today announced the filing of interim financial statements and MD&A
(unaudited) for the three months and six months ended January 31, 2007.
The Company reported second quarter 2007 revenues of $167,112 (Q2 2006 -
$130,824) and revenues for the six months ending January 31, 2007 of $486,474
(H2 2006 - $185,542). Cost of sales for the second quarter ended January 31,
2007 was $167,941 (Q2 2006 - $113,915) and for the six months ending
January 31, 2007 cost of sales was $403,189 (H2 2006 - $196,958). Gross margin
for the second quarter ended January 31, 2007 was ($830) (Q2 2006 - $16,909)
and for the six months ending January 31, 2007 gross margin was $83,285 (H2
2006 - ($11,416)). Net loss for the second quarter ended January 31, 2007 was
($457,522) (Q2 2006 - ($144,121)) and for the six months ending January 31,
2007 net loss was ($662,138) (H2 2006 - ($347,045)).
During the quarter the Company experienced delays in orders from one of
its key customers. The Company expenses research and development costs in the
period in which they are incurred and invested over $200,000 in the
development of its new ActiveMine(TM) and ActiveMesh(TM) product lines.
Overall, the Company expects these investments will deliver on key financial
objectives in the near term.
Additional information relating to ACT can be found at www.sedar.com.
About Active Control Technology
ACT designs and markets wireless network control and communication
systems for buildings and extreme environments. Located in Burlington,
Ontario, Canada, the company trades publicly on the TSX Venture Exchange under
the symbol ACT. For more information, visit the company's website at
We make wireless work.(TM)
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: Steve Barrett, President & C.E.O., Active
Control Technology Inc., Tel.: (905) 670-5500 ext. 202, Fax: (905) 592-9691,
Email: email@example.com, Website: www.activecontrol.com; Don
Hogarth, Hogarth Communications Inc., Tel.: (416) 565-8920, Email: