Cencotech reports results of operations for the 2009 1st quarter ended, January 31st, 2009

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[{"type":"text","content":"\n\n\n\nTORONTO, March 25 /CNW/ - Cencotech Inc. (CTZ - TSX-V) today reports the\nresults of operations for the first three months of fiscal 2009 ended January\n31st. All amounts referenced herein are in Canadian dollars.\n\n\nRevenue for the first three months of fiscal 2009 was $410,521 as\ncompared to $377,563 for the same period last year. The net loss for the 2009\nfirst quarter was $2,195 ($0.00 per share) as compared to a net income from\noperations in the first quarter of 2008 of $54,082 ($0.00 per share).\n\n\nK. Barry Sparks, the President of Cencotech, stated: "The sales mix\nbetween hardware and software in the quarter ended January 31st, 2009 was\nskewed towards lower margined hardware products as compared to the first\nquarter 2008 when software income was the main driver in the period. As we\nhave noted previously, software license sales have a lengthy sales cycle.\nHaving said that, notwithstanding the present economic environment, we are\nseeing significant interest in the Company's software products. While there\ncan be no doubt that capital budget expenditures are receiving close attention\nin all facets of the North American economy, the implementation of our system\nsolutions creates significant efficiencies in the operations of the users.\nTherefore, notwithstanding the present economic downturn, we are working\nclosely with clients and potential clients in an effort to get more of our\nproducts into use in the marketplace."\n\n\nCencotech Inc. products are designed to bring efficiency to the\nprocessing of currency and other value instruments in financial institutions,\nlarge retailers, public transportation operations and the gaming industry.\nCencotech's proprietary software products for this market are\n"open-architectured" and have been developed to interface with clients' legacy\nsystems.\n\n\nThe TSX Venture Exchange has neither approved nor disapproved of the\ninformation contained in this release. This Media Release contains\nforward-looking statements, which reflect the Corporation's current\nexpectations regarding future events. The forward-looking statements involve\nrisks and uncertainties. Actual events could differ from those projected\nherein and depend on a number of factors including the success of the\nCorporation's sales strategies.\n\n\n","length":2371,"tagName":"div"}]

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