TORONTO, June 28 /CNW/ - Cencotech Inc. (CTZ - TSX-V) today reports the
results of operations for the second quarter of fiscal 2007 ended April 30th,
2007. All amounts referenced herein are in Canadian dollars. Revenue for the
second quarter was $341,783 as compared to $242,656 for the same period last
year. A net loss of $121,632 ($0.01 per share) was recorded for the three
months ended April 30th, 2007, as compared to a loss of $73,988 ($0.00 per
share) for the same period last year.
Revenue for the first six months of fiscal 2007 was $494,904 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 in the first quarter of 2007. This
compares to revenue of $388,425 in the same period last year. The Company
recorded a profit of $804,693 or ($0.04 per share) in the six months ended
April 30, 2007 as compared to a loss of $318,746 or ($0.01 per share) for the
same period last year.
Cencotech's President, K. Barry Sparks stated "While hardware sales of
the Commercial Self Service products increased markedly in the second quarter
of 2007, these products have a lower margin than the Company's software
offerings. The sales cycle for the Company's software tends to be a number of
months and the dollar value of each license sale is relatively large.
Consequently, the revenue from the sale of software licenses can vary quarter
to quarter depending on the timing of sales completions. We remain optimistic
with respect to the future for all of the Company's products as we look at the
possibilities for continuing 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,