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Cencotech reports results of operations for fiscal 2015
Cencotech reports results of operations for fiscal 2015 Cencotech reports results ...
About this update from Namsys Inc.
[{"type":"text","content":"\n\n\n\nCencotech reports results of operations for fiscal 2015\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nCencotech reports results of operations for fiscal 2015\nCanada NewsWire\nTORONTO, Feb. 3, 2016\n\n\n\nTORONTO, Feb. 3, 2016 /CNW/ - Cencotech Inc. (CTZ – TSX-V) today reports the results of operations for the fiscal year ended October 31st, 2015. All amounts referenced herein are in Canadian dollars. \n\nRevenue from operations for the twelve months ended October 31st, 2015 was $1,708,144 as compared to $1,348,186 in fiscal 2014. Income Before Tax, a key metric in gauging business performance, was $715,264 for fiscal 2015, as compared to fiscal 2014 Income Before Tax of $311,495, net of the $250,000 non-operating settlement negotiated by management on the repayment of the Company's Debenture. Comprehensive Income was; $934,264 ($0.03 per share) for fiscal 2015, as compared to $1,091,495 ($0.04 per share) for fiscal 2014. Comprehensive Income includes non-operating credits of $219,000 in 2015 as compared to $780,000 in 2014.\n\nThe consolidated financial statements and management's discussion and analysis for fiscal 2015 are available under the Company's profile on SEDAR at www.sedar.com.\n\nK. Barry Sparks, the President of Cencotech, stated \"2015 was another very good year for the Company. The \"Cirreon™\" group of applications hosted by the Company's subsidiary, Namsys Inc. and sold on a SaaS/\"cloud\" usage basis, continues to make excellent progress in the marketplace. Additional distribution agreements for the Cirreon products have recently gone into place with credible organizations and we anticipate that during the 2016 year, we will start to see revenues from Europe and select locations in South America. In addition, we have recently negotiated further sales channels for the Cirreon products in North America.\n\nThe continuing positive results from operations has also provided an opportunity for Namsys Inc. to redeem further Preference Shares. As at February 1st, 2016 the original $1,000,000 in Preference Shares issued have been reduced ...