Business
Cencotech reports results of operations for the third quarter, July 31st, 2008
TORONTO, Sept. 18 /CNW/ - Cencotech Inc. (CTZ - TSX-V) today reports the results of operations fo...
About this update from Namsys Inc.
[{"type":"text","content":"\n\n\n\nTORONTO, Sept. 18 /CNW/ - Cencotech Inc. (CTZ - TSX-V) today reports the\nresults of operations for the first nine months of fiscal 2008, ended July\n31st, 2008. All amounts referenced herein are in Canadian dollars. Revenue for\nthe third quarter was $312,280 as compared to $327,807 for the same period\nlast year. A loss was recorded for the quarter of $115,364 ($0.01 per share)\nas compared to a loss from operations of $65,982 ($0.01 per share) for the\nthree months ended July 31st, 2007.\n\n\nRevenue for the first nine months of fiscal 2008 was $1,024,325 as\ncompared to revenue in the same period last year of $822,711, exclusive of a\ngain of $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 loss of $49,122 ($0.00 per share) in the nine months ended\nJuly 31st, 2008 as compared to a profit of $738,711 ($0.03 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 Cencotech, stated "As noted last\nquarter, the new version of the CashNET product is now being delivered to\nclients. While part of the order backlog for these products was cleared in the\nthird quarter, the balance of the backlog has now been cleared and the Company\nis able to meet orders as they are received from clients. Interest in the\nCompany's software products continues to be strong and we believe the small\ndeficit recorded 2008 year to date will be eliminated and profitability\nrestored for the full 2008 fiscal year."\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 contains\nforward-looking statements, which reflect the Corporation's current\nexpectations regarding future events. The forward-looking statements involve...