Tactex Reports Fiscal Year End 2006 Results



    VICTORIA, April 26 /CNW/ - Tactex Controls Inc, the manufacturer of
innovative fiber optic tactile force sensors, reported its financial results
for the year ended December 31, 2006. Tactex recorded a loss for the year, but
ended the year in a strong financial position, with $929,474 in cash and cash
equivalents - up from the previous year end (2005 - $652,697). In fiscal 4th
quarter Tactex had positive cash flow, gaining $79,744 in cash and cash
equivalents on the quarter, attributed primarily to an intellectual property
deal with Airbus, the global aircraft manufacturer. David Lokhorst, President
and CEO of Tactex, says, "We are pleased with our fourth quarter results. Over
and above the deal with Airbus, we are starting to see traction from the sales
efforts we initiated in 2006. Sales of product and services - excluding the
Airbus deal - grew from $35,349 in third quarter to $87,913 in fourth quarter.
In the fourth quarter, we sold to more customers than in all of 2005. We
expect quarter-over-quarter increases in sales revenue to continue, at least
into early 2007, as our sales initiatives bear fruit."


    
                     STATEMENT OF OPERATIONS AND DEFICIT
                       FOR THE YEARS ENDED DECEMBER 31

      (Excerpt from audited financial statements - see annual financial
                         statements for full details)

                                                      2006           2005
                                                 -------------  -------------

    SALES                                        $    223,014   $    887,274

    COST OF SALES                                     167,630        210,116
                                                 -------------  -------------

    GROSS MARGIN                                       55,384        677,158
                                                 -------------  -------------

    OTHER INCOME:
      Grants and tax credits                          115,049              -
      Interest and other income                       219,437         25,144
                                                 -------------  -------------
                                                      334,486         25,144
                                                 -------------  -------------
    EXPENSES:
      Marketing                                       269,539        196,559
      Research and development                        439,126        553,874
      Interest on bond payable                         35,895              -
      Administration                                  696,427        989,748
      Amortization - property, plant &
       equipment                                       70,962         62,666
                                                  ------------- -------------
                                                    1,511,949      1,802,847
                                                 -------------  -------------

    NET LOSS FOR THE YEAR                          (1,122,079)    (1,100,545)

    DEFICIT - beginning of year                    (2,768,244)    (1,667,699)
                                                 -------------  -------------

    DEFICIT - End of year                        $ (3,890,323)  $ (2,768,244)
                                                 -------------  -------------
                                                 -------------  -------------

    Earnings (loss) per share - basic and
     diluted                                     $      (0.02)  $      (0.02)
                                                 -------------  -------------
                                                 -------------  -------------


    About Tactex

    Tactex develops and manufactures sensors based on a patented technology
called Kinotex(R). Tactex provides off-the-shelf and custom sensor solutions
for consumer products, medical, and industrial applications, as well as
product development services to help clients realize their concepts. Tactex is
publicly traded on the TSX Venture Exchange (TSX-V:TTX).

        The TSX Venture Exchange has not reviewed and does not accept
         responsibility for the adequacy or accuracy of this release.
    





For further information:

For further information: David Lokhorst, President & CEO, Tactex
Controls Inc., (250) 480-1132 x206, 250 Bay St., Victoria, British Columbia,
Canada, V9A 3K5, info@tactex.com

Organization Profile

TACTEX CONTROLS INC.

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