TORONTO, March 1 /CNW/ - Cencotech Inc. (CTZ - TSX-V) today reports the
results of operations for fiscal 2005.
For the fiscal year ended October 31st, 2005 revenue totaled $1,861,041
as compared to $1,276,794 for fiscal 2004. The Company reported net income of
$106,106 or $0.01 per share for fiscal 2005 as compared to a loss of
$1,145,582 or ($0.07) per share for fiscal 2004.
Cencotech also announced today that its wholly owned subsidiary, NamSys
Inc. has further extended its sales and marketing alliances with the
completion of a reseller agreement with Transoft International Inc. of Cary,
North Carolina ("Transoft"). Transoft will immediately commence marketing the
Company's CC32 Cash Vault Management and Control logistics software. Cash
processors such as banks and armored carriers use cash vault software to
control all aspects of deposit verification and to manage cash order
preparation in their vaults.
Transoft is a leading provider of software that forecasts and manages the
supply train for cash in financial institutions. Transoft's clients use their
software to optimize cash holdings and reduce cash traffic costs. Transoft's
software is employed in the management of over 100,000 ATMs, branches and
vaults across six continents and the company was chosen in 2004 by Deloitte &
Touche as one of the top 25 fastest growing technology firms in North Carolina
for the third year in a row. Cencotech Inc.'s President, K. Barry Sparks noted
"we believe Transoft will be an important partner in marketing our CC32
software to financial institutions. The ability of Transoft to offer a
complete cash management system comprising both logistics and forecasting is
increasingly valued by large cash processors. The complementary offerings of
the two systems which were developed on similar platforms, fills the clients
needs through a single vendor.
Mr. Sparks continued "we are delighted to welcome Transoft to the
distribution alliances which we have been striving to expand. While the sales
cycle for our products is quite protracted, the strength and depth of the
sales teams now in place should see accelerating growth in product sales as we
move forward".
Cencotech Inc. was created to acquire and manage emerging high technology
enterprises with sound business solutions for their customers. The
Corporation's present products are designed to bring efficiency to the
processing of currency and other value instruments in financial institutions,
large retailers, public transportation operations and the gaming industry.
Cencotech systems are "open-architectured" and have been developed to
interface with client's legacy systems.
The TSX Venture Exchange has neither approved nor disapproved of the
information contained in this release. This Media Release may contain forward-
looking statements, which reflect the Corporation's current expectations
regarding future events. The forward-looking statements involve risks and
uncertainties. Actual events could differ from those projected herein and
depend on a number of factors including the success of the Corporation's sales
strategies.
