TORONTO, March 28 /CNW/ - Cencotech Inc. (CTZ - TSX-V) today reports the
results of operations for the first three months of fiscal 2007 ended
January 31st. The amounts referenced herein are in Canadian dollars.
Revenue for the first three months of fiscal 2007 was $153,120 plus a
gain of $1,351,319 as the result of the sale of all patents and trademarks for
the Company's Commercial Self Service products. This compares to revenue of
$145,769 in the same period last year. The Company recorded a profit of
$926,325 or $0.04 per share in the first quarter of 2007 as compared to a loss
of $244,758 or $0.01 per share for the same period last year.
K. Barry Sparks, the President of Cencotech stated "The ArmorSafe
Technologies,LLC acquisition of the Commercial Self Service products business
closed on December 15th, 2006. The transaction results in the Company's
subsidiary, NamSys Inc. sharing the risk of developing the market for the
Commercial Self Service products, while at the same time providing NamSys with
the ability to serve the clients it has previously developed. The Armor
transaction should also result in growth in the software revenue of the
Company, as NamSys' software is used in the control and monitoring of the
hardware products Armor has acquired. We remain optimistic as we look at the
possibilities for growth in the coming year."
Cencotech Inc. was created to acquire and manage emerging high technology
enterprises with sound business solutions for their customers. The
Corporation's present 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 systems are "open-architectured" and have been developed to
interface with client's 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.
For further information:
For further information: Mr. K. Barry Sparks, President, (416) 369-6081,