VANCOUVER, Jan. 24, 2012 /CNW/ - Smartcool Systems Inc. (TSX-V: SSC) is pleased to announce that the company has experienced
the anticipated growth in its business and achieved profitability
during the fourth quarter of 2011. In this quarter, Smartcool achieved
the most revenue earned in any quarter in the company's history. The
management-prepared financial statements show revenues of $1,998,000
and EBITDA of 365,000. Final confirmation of these figures is subject
to the audit of the 2011 fiscal period, which is currently underway.
"Our ongoing work with several major food retailers in England and
Europe provides us with the foundation required for profitability,"
stated George Burnes, President and CEO of Smartcool. "We have
dedicated ourselves to becoming leaders in energy efficiency solutions
for these types of customers. Our investment in this market has
demonstrated its value, and we anticipate that this will lead us
through a highly successful year in 2012 and beyond."
The company anticipates the continued expansion of its market share in
2012 by working with top tier food retailers, telecommunication and
data processing companies in the United Kingdom, Europe, Asia,
Australia and North America. The company's office in Alton, England has
been provided the necessary resources to handle the level of business
currently anticipated in the United Kingdom and Europe for 2012.
Financial statements for the fiscal year of 2011 will be filed with SEDAR and available on Smartcool's website by the end of April 2012.
Neither the TSX Venture Exchange nor its Regulation Services Provider
accepts responsibility for the adequacy or accuracy of this release.
Smartcool Systems Inc. (TSX-V: SSC) provides cutting edge energy
efficient and energy cost reduction solutions for businesses around the
world. The ESM™ and ECO3™ are Smartcool's unique retrofit technologies that reduce the energy
consumption of compressors in air conditioning, refrigeration and heat
pump systems, with no risk to existing equipment performance. www.smartcool.net
SOURCE SmartCool Systems Inc.
For further information:
CEO of Smartcool
Tel. +1 604 639 5625