Business
Cencotech reports results of operations for the second quarter, April 30th, 2009
TORONTO, June 29 /CNW/ - Cencotech Inc. (CTZ - TSX-V) today reports the results of operations for...
About this update from Namsys Inc.
[{"type":"text","content":"\n\n\n\nTORONTO, June 29 /CNW/ - Cencotech Inc. (CTZ - TSX-V) today reports the\nresults of operations for the first six months of fiscal 2009, ended April\n30th. All amounts referenced herein are in Canadian dollars. Revenue for the\nsecond quarter was $155,078 as compared to $334,483 for the same period last\nyear. A loss for the quarter of $128,552 ($0.01 per share) was recorded as\ncompared to a profit from operations of $12,160 ($0.00 per share) for the\nthree months ended April 30th, 2008.\n\n\nRevenue for the first six months of fiscal 2009 was $565,599 as compared\nto revenue in the same period last year of $712,045. The Company recorded a\nloss of $130,747 ($0.01 per share) in the six months ended April 30th, 2009 as\ncompared to a profit of $66,242 ($0.00 per share) in the same period last\nyear.\n\n\nK. Barry Sparks, the President of the Cencotech, stated "Revenue this\nquarter reflects the lack of sales income from the sale of licenses or systems\nfor the Company's offering of software and hardware products. While we are\nexperiencing strong interest in our software products and are working closely\nwith a number of potential customers, none of the potential transactions\nclosed during the quarter ended April 30th, 2009. In terms of the Company's\nCashNet self service products, notwithstanding the significant efficiencies\nthe system brings to users, capital expenditures are receiving close attention\nin all facets of the North American economy. As noted, however, we are working\nclosely with potential clients in an effort to get more of our products into\nuse in the marketplace. Given the stage of negotiations with a number of\nclients, we anticipate notable success from our sales and marketing efforts in\nthe next three months."\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 may contain\nforward-looking statements, which reflect the Corporat...