JEMTEC INC. TSX-V: JTC
VANCOUVER, July 8, 2019 /CNW/ - JEMTEC Inc. (TSX-V: JTC) (the "Company") is pleased to provide an update on its Third Quarter performance for the period ended April 30, 2019. The following results show the Company continues to improve it's financial strength, with no debt, strong liquidity and increasing net worth.
Q3 Revenues and Expenses
Revenues decreased by 3% during the quarter ended April 30, 2019, compared to the quarter ended April 30, 2018, while Expenses decreased by 9% compared for the quarter ended April 30, 2018, due to the Companies continuous work on cost controls.
Q3 Net Income
Net Income increased by 20% compared to the quarter ended April 30, 2018 as the Company recorded net income of $142,929, compared to Net Income of $119,200 for the quarter ended April 30, 2018.
At April 30, 2019, the Company had Cash and Cash equivalents of $2,093,705 compared $1,590,005 for the quarter ended April 30, 2018, while the Companies Working Capital increased to $1,928,434, compared to $1,121,802 for the quarter ended April 30, 2018.
Eric Caton, President and CEO said, "We are pleased with the Q3 results and see a profitable and stable next three months ahead with the Company well positioned to increase its market share." Jemtec has provided a full spectrum of monitoring technologies and services to provincial and federal correctional and border services across Canada since 1987 and in doing so has built a reputation for offering the best technological solutions and support for use in this demanding environment.
This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward- looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Jemtec Inc.
For further information: Eric Caton, President, Phone (877) 929-4559, Fax (877) 929-4198, www.jemtec.ca