Tactex Reports 2007 Q2 Results

    VICTORIA, BC, Aug. 21 /CNW/ - Tactex Controls Inc, manufacturer of
innovative tactile sensors, reports its fourth consecutive
quarter-over-quarter increase in sales revenue with the period ended June 30,
2007. Sales for the quarter were $250,242 compared to $187,148 in first
quarter 2007 and $25,298 in second quarter 2006.
    The company saw increases in the sale of both product and engineering
services. President and CEO David Lokhorst says, "In second quarter, we saw
increasing demand for our line of elder-care sensors with repeat orders from
many of our core bed sensor customers and an order for delivery to a new
European location." Tactex BEDsensors(TM) are used for dementia care,
wandering management, and fall prevention. The line is sold directly into the
long-term care market and offered as a component for OEM patient monitoring
    "A significant contribution to second quarter revenue was the funded
development of a niche-market electronic device that we announced in April,"
continued Lokhorst. Commercial deliveries for the device have started and
products are now being sold to end users. Tactex expects to continue the
production run through the quarter ending September 30 and into fourth quarter
    In addition, the company had a foreign exchange gain on the bond payable
resulting from the Japanese Yen decreasing in value against the Canadian


    (Excerpt from unaudited financial statements - see interim financial
    statements for full details)

                                                  Three month    Three month
                                                 period ended   period ended
                                                June 30, 2007  June 30, 2006
                                                -------------- --------------

    SALES                                             250,242         25,298
    COST OF GOODS SOLD                                 61,779         46,651
                                                -------------- --------------
    GROSS MARGIN                                      188,463        (21,353)
                                                -------------- --------------
      Grants and tax credits                           11,777         27,040
      Interest and other income                        16,558         12,170
                                                -------------- --------------
                                                       28,335         39,210
                                                -------------- --------------
      Marketing                                        95,641        107,211
      Research and Development                        100,107        106,132
      Administration                                   (1,890)       162,475
      Interest - long term debt                        11,324         12,833
      Amortization - property, plant and
       equipment                                       16,467         11,808
                                                -------------- --------------
                                                      221,649        400,459
                                                -------------- --------------

    NET INCOME (LOSS) FOR THE PERIOD                   (4,851)      (382,602)

    DEFICIT - Beginning of period                  (4,052,424)    (3,095,754)
                                                -------------- --------------
    DEFICIT - End of period                        (4,057,275)    (3,478,356)
                                                -------------- --------------
                                                -------------- --------------

    Earnings (loss) per share - basic and
     diluted                                            (0.00)         (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, 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., (Tel) (250) 480-1132 ext 206, 250 Bay St., Victoria, British
Columbia, Canada, V9A 3K5

Organization Profile


More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890