TORONTO, March 28 /CNW/ - Cencotech Inc. (CTZ - TSX-V) today reports the
results of operations for the first three months of fiscal 2008 ended
January 31st. The amounts referenced herein are in Canadian dollars.
Revenue for the first three months of fiscal 2008 was $377,563 as
compared to $153,120 for the same period last year. Net income for the
2008 first quarter was $54,082 or $0.00 per share as compared to a loss from
operations of $209,994 plus a gain of $1,351,319 as a result of the sale of
all patents and trademarks for the Company's Commercial Self Service products
for a net profit of $926,325 or $0.04 per share in the first quarter of 2007.
K. Barry Sparks, the President of Cencotech stated "Software income in
the quarter ended January 31st, 2008 was much stronger than the previous year.
The Company is continuing to work closely with the manufacturer of the CashNet
products to bring the new version of the products on line as quickly as
possible. We remain optimistic that this will be achieved no later than late
April 2008. In the meantime, software license sales while being subject to a
lengthy sales cycle, are presently quite strong and we remain positive with
respect to all the Company's products, as we look to the 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
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.
For further information:
For further information: Mr. K. Barry Sparks, President, (416) 369-6081,