TORONTO, June 24 /CNW/ - Cencotech Inc. (CTZ - TSX-V) today reports the
results of operations for the first six months of fiscal 2008, ended
April 30th. All amounts referenced herein are in Canadian dollars. Revenue for
the second quarter was $334,483 as compared to $341,783 for the same period
last year. Profit in the quarter was $12,160 ($0.00 per share) as compared to
a loss from operations of $121,632 ($0.01 per share) for the three months
ended April 30th, 2007.
Revenue for the first six months of fiscal 2008 was $712,045 as compared
to revenue in the same period last year of $494,904, exclusive of a gain of
$1,351,319 as the result of the sale of patents and trademarks for the
Company's Commercial Self Service products in the first quarter of 2007. The
Company recorded a profit of $66,242 ($0.00 per share) in the six months ended
April 30th, 2008 as compared to a profit of $804,693 ($0.04 per share) in the
same period last year, including the gain on sale of the Commercial Self
Service intellectual and hard assets in the first quarter of 2007.
K. Barry Sparks, the President of the Cencotech, stated "Software income
in the second quarter, similar to the first quarter of 2008, was much stronger
than the previous year. The Company is pleased to announce that the new
version of the CashNET product is now available from the manufacturer and
these products are presently being delivered to clients. The order backlog of
the CashNET Self Service products outstanding at the end of April 2008 is
being cleared and the Company expects to be able to meet orders as they are
received by the end of the third quarter, ending July 31st, 2008. While
software license sales are subject to a lengthy sales cycle, the Company is
experiencing strong interest in its software products and with the Commercial
Self Service supply chain delays behind us, the outlook for the future
continues to be positive."
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,