Business
Cencotech reports results of operations for the first quarter, January 31st, 2006
Cencotech reports results of operations for the first quarter, January 31st, 2006.
About this update from Namsys Inc.
[{"type":"text","content":"\n\n\n\n\nTORONTO, March 28 /CNW/ - Cencotech Inc. (CTZ - TSX-V) today reports the\nresults of operations for the first three months of fiscal 2006 ended\nJanuary 31st. All amounts referenced herein are in Canadian dollars.\nRevenue for the first three months of fiscal 2006 was $145,769 as\ncompared to $656,601 in the same period last year. The Company recorded a net\nloss of $244,758 or ($0.01) per share in the first quarter of 2006 as compared\nto a profit of $154,190 or $0.01 per share for the same period last year.\nWith respect to the results, Cencotech Inc.'s President, K. Barry Sparks\nstated \"As we have noted in the past, the key to our going forward strategy\ninvolves sales and marketing alliances with others in the 'large volume\ncurrency handling market'. The sales cycle in this market is long and it is\ntherefore important, if we are to record some level of consistent performance,\nthat we have a number of such alliances all actively progressing. While sales\nin the first quarter of 2006 were lower than anticipated, our outlook for the\nfull 2006 fiscal year is positive. It is our belief the new alliances\nannounced over the past few months along with the sales relationships forged\nearlier, augur well for the Company's future\".\n\nCencotech Inc. was created to acquire and manage emerging high technology\nenterprises with sound business solutions for their customers. The\nCorporation's present 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 systems are \"open-architectured\" and have been developed to\ninterface with client's legacy systems.\n\nThe TSX Venture Exchange has neither approved nor disapproved of the\ninformation contained in this release. This Media Release may contain \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\n","length":2257,"tagName":"div"}]