TORONTO, June 24, 2013 /CNW/ - Cencotech Inc. (CTZ - TSX-V) today reports the results of operations for the first six months and the
second quarter of fiscal 2013, ended April 30th. All amounts referenced
herein are in Canadian dollars. Revenue for the second quarter was
$272,710 as compared to $311,715 for the same period last year. Net
income for the quarter of $26,379 ($0.00 per share) was recorded as
compared to a loss of $67,080 ($0.00 per share) for the three months
ended April 30th, 2012.
Revenue for the first six months of fiscal 2013 was $503,598 as compared
to revenue in the same period last year of $551,221. The Company
recorded net income of $22,389 ($0.00 per share) in the six months
ended April 30th, 2012 as compared to a loss of $69,225 ($0.00 per share) in the same
period last year.
K. Barry Sparks, the President of Cencotech, stated "The Company is
continuing to make progress in moving new product sales opportunities
forward, particularly with respect to our Cirreon SaaS and related
software offerings. New customers for the Company's products are
increasingly requesting that products be offered on a "software as a
service" basis (SaaS), as opposed to purchasing a term licence for such
software from the Company. While as noted previously, this reduces the
recording of one time larger licence sales completions, we are
completing more deals on a contracted 'pay as you go' usage basis.
Recurring contracted software revenue accounted for 73.6% of total
sales in the quarter ended April 30, 2013, as compared to 56.6% in the
same period last year."
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 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.
SOURCE: CencoTech Inc.
For further information:
Mr. K. Barry Sparks