TORONTO, Sept. 18 /CNW/ - Cencotech Inc. (CTZ - TSX-V) today reports the
results of operations for the first nine months of fiscal 2008, ended July
31st, 2008. All amounts referenced herein are in Canadian dollars. Revenue for
the third quarter was $312,280 as compared to $327,807 for the same period
last year. A loss was recorded for the quarter of $115,364 ($0.01 per share)
as compared to a loss from operations of $65,982 ($0.01 per share) for the
three months ended July 31st, 2007.
Revenue for the first nine months of fiscal 2008 was $1,024,325 as
compared to revenue in the same period last year of $822,711, exclusive of a
gain of $1,351,319 as the result of the sale of patents and trademarks for the
Company's Commercial Self Service products in the first quarter of 2007. The
Company recorded a loss of $49,122 ($0.00 per share) in the nine months ended
July 31st, 2008 as compared to a profit of $738,711 ($0.03 per share) in the
same period last year, including the gain on sale of the Commercial Self
Service intellectual and hard assets in the first quarter of 2007.
K. Barry Sparks, the President of Cencotech, stated "As noted last
quarter, the new version of the CashNET product is now being delivered to
clients. While part of the order backlog for these products was cleared in the
third quarter, the balance of the backlog has now been cleared and the Company
is able to meet orders as they are received from clients. Interest in the
Company's software products continues to be strong and we believe the small
deficit recorded 2008 year to date will be eliminated and profitability
restored for the full 2008 fiscal 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
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.
For further information:
For further information: Mr. K. Barry Sparks, President, (416) 369-6081,