Business
Cencotech reports results of operations for the year ended October 31st, 2005
Cencotech reports results of operations for the year ended October 31st, 2005.
About this update from Namsys Inc.
[{"type":"text","content":"\n\n\n\n\nTORONTO, March 1 /CNW/ - Cencotech Inc. (CTZ - TSX-V) today reports the\nresults of operations for fiscal 2005.\nFor the fiscal year ended October 31st, 2005 revenue totaled $1,861,041\nas compared to $1,276,794 for fiscal 2004. The Company reported net income of\n$106,106 or $0.01 per share for fiscal 2005 as compared to a loss of\n$1,145,582 or ($0.07) per share for fiscal 2004.\nCencotech also announced today that its wholly owned subsidiary, NamSys\nInc. has further extended its sales and marketing alliances with the\ncompletion of a reseller agreement with Transoft International Inc. of Cary,\nNorth Carolina (\"Transoft\"). Transoft will immediately commence marketing the\nCompany's CC32 Cash Vault Management and Control logistics software. Cash\nprocessors such as banks and armored carriers use cash vault software to\ncontrol all aspects of deposit verification and to manage cash order\npreparation in their vaults.\nTransoft is a leading provider of software that forecasts and manages the\nsupply train for cash in financial institutions. Transoft's clients use their\nsoftware to optimize cash holdings and reduce cash traffic costs. Transoft's\nsoftware is employed in the management of over 100,000 ATMs, branches and\nvaults across six continents and the company was chosen in 2004 by Deloitte &\nTouche as one of the top 25 fastest growing technology firms in North Carolina\nfor the third year in a row. Cencotech Inc.'s President, K. Barry Sparks noted\n\"we believe Transoft will be an important partner in marketing our CC32\nsoftware to financial institutions. The ability of Transoft to offer a\ncomplete cash management system comprising both logistics and forecasting is\nincreasingly valued by large cash processors. The complementary offerings of\nthe two systems which were developed on similar platforms, fills the clients\nneeds through a single vendor.\nMr. Sparks continued \"we are delighted to welcome Transoft to the\ndistribution alliances which we have been striving to expand. While the sales\ncycle for our products is quite protracted, the strength and depth of the\nsales teams now in place should see accelerating growth in product sales as we\nmove forward\".\n\nCencotech Inc. was created to acquire and manage emerging high technology\nenterprises with sound business solutions for their customers. The...