Tenth Power Technologies Corp. announces results for third quarter financials

TORONTO, Dec. 17 /CNW/ - Tenth Power Technologies Corp. (TSX-V:TPI) today announced the financial results of its third fiscal quarter end October 31, 2010.

Revenues for the third quarter of $1.0 million improved by 42% over the second quarter, and gross margins improved to 38% from 30% from the same period last year. Net loss for the quarter was $158,967 ($0.01 per share) compared to net loss of $204,201 ($0.02 per share) for the same period last year.

Significant events during the third quarter included the hiring of a new CFO in September and the completion of private debenture financing of $550,000 on October 31, 2010. The integration of the WhiteHat division was completed. The Company also saw signs of recovery as several key customers began making investments in IT security infrastructure that had been deferred due to restraints brought on by the economic downturn.

Tenth Power Technologies Corporation is a Canadian based-technology and solutions company. Tenth Power supplies secure business solutions to clients in the telecommunications, financial services, manufacturing, government and health care sectors. TPTC augments proprietary software with product licensing and strategic acquisition of industry-leading services, to design solutions that safeguard information and electronic communications. The suite of products includes identity and signature authentication, Internet security, safe communication platforms and a secured collaboration environment. TPTC also provides IT security consulting and managed services. The corporate office is located in Toronto, Canada.

SOURCE Tenth Power Technologies Corp.

For further information: For further information:

Tenth Power Technologies Inc.
Guy Burry
(416) 920-2010 ext: 159
Website: www.tenthpowertech.com

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Tenth Power Technologies Corp.

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