Business
Cencotech reports results of operations for the first quarter, January 31st, 2007
Cencotech reports results of operations for the first quarter, January 31st, 2007.
About this update from Namsys Inc.
[{"type":"text","content":"\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 2007 ended\nJanuary 31st. The amounts referenced herein are in Canadian dollars.\n\n\nRevenue for the first three months of fiscal 2007 was $153,120 plus a\ngain of $1,351,319 as the result of the sale of all patents and trademarks for\nthe Company's Commercial Self Service products. This compares to revenue of\n$145,769 in the same period last year. The Company recorded a profit of\n$926,325 or $0.04 per share in the first quarter of 2007 as compared to a loss\nof $244,758 or $0.01 per share for the same period last year.\n\n\nK. Barry Sparks, the President of Cencotech stated "The ArmorSafe\nTechnologies,LLC acquisition of the Commercial Self Service products business\nclosed on December 15th, 2006. The transaction results in the Company's\nsubsidiary, NamSys Inc. sharing the risk of developing the market for the\nCommercial Self Service products, while at the same time providing NamSys with\nthe ability to serve the clients it has previously developed. The Armor\ntransaction should also result in growth in the software revenue of the\nCompany, as NamSys' software is used in the control and monitoring of the\nhardware products Armor has acquired. We remain optimistic as we look at the\npossibilities for growth in the coming year."\n\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\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.\...