VANCOUVER, April 29 /CNW/ - Smartcool Systems Inc. (TSXV: SSC) generated
revenues of $427,339 for the three months ended December 31, 2008 compared to
revenue of $183,578 for the three months ended December 31, 2007. Smartcool
revenues rose to $1,175,168 for the year ended December 31, 2008 from $447,275
for the same period in the previous year, representing an increase of 163 per
Smartcool Systems recorded a net loss of $1,247,679 for the three-month
period ending December 31, 2008 compared to a net loss of $1,584,963 for the
corresponding period in 2007. Smartcool reports a loss of $4,370,884 for the
year ended December 31, 2008 compared to a loss of $4,323,281 for 2007.
"This has been a positive year for Smartcool as we have expanded our
distribution network globally and launched a new subsidiary based in London,
England," stated George Burnes, President and C.E.O. of Smartcool Systems Inc.
"In addition to creating these new sales channels, we have seen further
validation of our technology with the release of the twelve-month testing
report from the University of Miami that was conducted on behalf of Florida
Power and Light. Subsequent to year end we released our ECO(3)(TM) product
targeting smaller air-conditioning and refrigeration systems and exposing
Smartcool to a large market segment. There is no doubt that current economic
conditions are impacting our clients however we are providing a proven energy
efficiency solution that provides a rapid return on investment that satisfies
cash flow concerns. As new legislation and government stimulus packages start
to take effect our solutions will allow customers to comply with these
Smartcool's annual statements and management discussion and analysis can
be viewed at our website, www.smartcool.net under the investor section or
alternatively at www.sedar.com.
About Smartcool Systems Inc.
Smartcool Systems Inc. (SSC: TSX.V) manufactures and distributes the
Smartcool Energy Saving Module (ESM)(TM) and the ECO(3)(TM), which make
refrigeration and air conditioning systems more efficient, resulting in proven
cost savings, reduced energy consumption, and a smaller carbon footprint. The
Smartcool ESM(TM) can be retrofitted to existing refrigeration and air
conditioning systems and is compatible with all known control systems. More
than 26,000 units have been installed worldwide for customers such as
supermarkets, food distributors, telecommunications companies, hospitals, and
hotels. Smartcool's new ECO(3)(TM) provides the same environmental and
cost-saving benefits to residential and commercial customers using one and two
compressor cooling systems.
The TSX Venture Exchange has neither approved nor disapproved the
contents of this press release.
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