TORONTO, Sept. 24 /CNW/ - Cencotech Inc. (CTZ - TSX-V) today reports the results of operations for the first nine months of fiscal 2009, ended July 31st. All amounts referenced herein are in Canadian dollars. Revenue for the third quarter was $177,882 as compared to $312,280 for the same period last year. A loss was recorded for the quarter of $71,927 ($0.01 per share) as compared to a loss of $115,364 ($0.01 per share) for the three months ended July 31st, 2008.
Revenue for the first nine months of fiscal 2009 was $743,481 as compared to revenue in the same period last year of $1,024,325. The Company recorded a loss of $202,674 ($0.01 per share) in the nine months ended July 31st, 2009, as compared to a loss of $49,122 ($0.00 per share) in the same period last year.
K. Barry Sparks, the President of Cencotech, stated "Revenue this quarter reflects the lack of sales income from the sale of licenses or systems for the Company's offering of software and hardware products. We continue to experience strong interest in our software products and are working closely with a number of potential customers. While capital expenditures continue to receive close attention in all facets of the North American economy, we remain optimistic that the sales and marketing efforts being undertaken with potential clients will ultimately result in the adoption of our offerings; which provide real operating efficiencies to users in the control and management of currency in their businesses. In the interim our recurring service revenue continues to grow and we look for this trend to continue."
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 systems.
The TSX Venture Exchange has neither approved nor disapproved of the
information contained in this release. This Media Release contains
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.
SOURCE Cencotech Inc.
For further information: For further information: Mr. K. Barry Sparks, President, (416) 369-6081, mailto:email@example.com