Cencotech reports results of operations for the second quarter, April 30th, 2008

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[{"type":"text","content":"\n\n\n\nTORONTO, June 24 /CNW/ - Cencotech Inc. (CTZ - TSX-V) today reports the\nresults of operations for the first six months of fiscal 2008, ended\nApril 30th. All amounts referenced herein are in Canadian dollars. Revenue for\nthe second quarter was $334,483 as compared to $341,783 for the same period\nlast year. Profit in the quarter was $12,160 ($0.00 per share) as compared to\na loss from operations of $121,632 ($0.01 per share) for the three months\nended April 30th, 2007.\n\n\nRevenue for the first six months of fiscal 2008 was $712,045 as compared\nto revenue in the same period last year of $494,904, exclusive of a gain of\n$1,351,319 as the result of the sale of patents and trademarks for the\nCompany's Commercial Self Service products in the first quarter of 2007. The\nCompany recorded a profit of $66,242 ($0.00 per share) in the six months ended\nApril 30th, 2008 as compared to a profit of $804,693 ($0.04 per share) in the\nsame period last year, including the gain on sale of the Commercial Self\nService intellectual and hard assets in the first quarter of 2007.\n\n\nK. Barry Sparks, the President of the Cencotech, stated "Software income\nin the second quarter, similar to the first quarter of 2008, was much stronger\nthan the previous year. The Company is pleased to announce that the new\nversion of the CashNET product is now available from the manufacturer and\nthese products are presently being delivered to clients. The order backlog of\nthe CashNET Self Service products outstanding at the end of April 2008 is\nbeing cleared and the Company expects to be able to meet orders as they are\nreceived by the end of the third quarter, ending July 31st, 2008. While\nsoftware license sales are subject to a lengthy sales cycle, the Company is\nexperiencing strong interest in its software products and with the Commercial\nSelf Service supply chain delays behind us, the outlook for the future\ncontinues to be positive."\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 Ve...

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