TORONTO, Sept. 20, 2012 /CNW/ - Cencotech Inc. (CTZ - TSX-V) today reports the results of operations for the first nine months of fiscal 2012, ended July 31st. All amounts referenced herein are in Canadian dollars. Revenue for the third quarter was $184,443 as compared to $175,945 for the same period last year. A loss for the quarter of $63,842 ($0.00 per share) was recorded as compared to a loss from operations of $112,399 ($0.00 per share) for the three months ended July 31, 2011.
Revenue for the first nine months of fiscal 2012 was $735,644 as compared to revenue in the same period last year of $728,595. The Company recorded a loss of $153,650 ($0.01 per share) in the nine months ended July 31, 2012 as compared to a loss of $181,624 ($0.01 per share) in the same period last year.
K. Barry Sparks, the President of Cencotech stated: While the Company did not complete any new software licence sales in this quarter, recurring revenue from the sale of Software as a Service ("SaaS") has come along nicely. Users of the Company's various SaaS offerings are providing very positive feedback with respect to the ease and utility of this approach to software products. We therefore expect recurring revenue to accelerate as we move forward."
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