Business
Cencotech reports results of operations for the second quarter, April 30th, 2007
Cencotech reports results of operations for the second quarter, April 30th, 2007.
About this update from Namsys Inc.
[{"type":"text","content":"\n\n\n\nTORONTO, June 28 /CNW/ - Cencotech Inc. (CTZ - TSX-V) today reports the\nresults of operations for the second quarter of fiscal 2007 ended April 30th,\n2007. All amounts referenced herein are in Canadian dollars. Revenue for the\nsecond quarter was $341,783 as compared to $242,656 for the same period last\nyear. A net loss of $121,632 ($0.01 per share) was recorded for the three\nmonths ended April 30th, 2007, as compared to a loss of $73,988 ($0.00 per\nshare) for the same period last year.\n\n\nRevenue for the first six months of fiscal 2007 was $494,904 plus a gain\nof $1,351,319 as a result of the sale of all patents and trademarks for the\nCompany's Commercial Self Service products in the first quarter of 2007. This\ncompares to revenue of $388,425 in the same period last year. The Company\nrecorded a profit of $804,693 or ($0.04 per share) in the six months ended\nApril 30, 2007 as compared to a loss of $318,746 or ($0.01 per share) for the\nsame period last year.\n\n\nCencotech's President, K. Barry Sparks stated "While hardware sales of\nthe Commercial Self Service products increased markedly in the second quarter\nof 2007, these products have a lower margin than the Company's software\nofferings. The sales cycle for the Company's software tends to be a number of\nmonths and the dollar value of each license sale is relatively large.\nConsequently, the revenue from the sale of software licenses can vary quarter\nto quarter depending on the timing of sales completions. We remain optimistic\nwith respect to the future for all of the Company's products as we look at the\npossibilities for continuing 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 Corpo...