Business
Cencotech Reports Results of Operations for the Third Quarter, July 31st, 2007
Cencotech Reports Results of Operations for the Third Quarter, July 31st, 2007.
About this update from Namsys Inc.
[{"type":"text","content":"\n\n\n\nTORONTO, Sept. 28 /CNW/ - Cencotech Inc. (CTZ - TSX-V) today reports the\nresults of operations for the third quarter of fiscal 2007 ended July 31st.\nAll amounts referenced herein are in Canadian dollars. Revenue for the third\nquarter was $327,807 as compared to $270,549 for the same period last year. A\nnet loss of $65,982 or ($0.00) per share was recorded for the three months\nended July 31st, 2007 as compared to a net loss of $116,259 or ($0.01) per\nshare for the same period last year.\n\n\nRevenue for the nine months of 2007 to July 31st was $822,711 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 $658,974 in the same period last year. The Company\nrecorded net income of $738,711; $0.04 per share in the nine months ended July\n31st, 2007, as compared to a loss of $435,005 ($0.02) per share for the same\nperiod last year.\n\n\nCencotech's President, K. Barry Sparks, stated: "Sales of the Commercial\nSelf Service products again increased in the third quarter of 2007 and we look\nfor this trend to continue into the future. The Company is also aggressively\npursuing revenue opportunities for its software licenses. While the sales\ncycle for the Company's software tends to be quite lengthy, we remain\noptimistic with respect to the future for all of the Company's products, as we\nlook at the possibilities for continuing growth."\n\n\nMr. Sparks also announced that J.W.R. Medland, the Chief Financial\nOfficer of Cencotech has tendered his resignation as he has taken on new\nresponsibilities with another employer. Mr. Medland has not yet been replaced\nbut on an interim basis, the Company's Non Executive Chairman, E. Christopher\nStait-Gardner has agreed to serve as Interim Chief Financial Officer. A\npermanent replacement for Mr. Medland will be announced in due course.\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 "ope...