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Cencotech Reports Results of Operations for the Second Quarter, April 30th, 2012
TORONTO, Jun 26, 2012, 2012 (Canada NewsWire via COMTEX) --
Cencotech Inc. (CTZ - TSX-V) today reports the results of operations for the first six months of
fiscal 2012, ended April 30th. All amounts referenced herein are in
Canadian dollars. Revenue for the second quarter was $311,715 as
compared to $296,556 for the same period last year. A loss for the
quarter of $67,080 ($0.00 per share) was recorded as compared to a loss
of $15,612 ($0.00 per share) for the three months ended April 30(th), 2011.
Revenue for the first six months of fiscal 2012 was $551,221 as compared
to revenue in the same period last year of $552,640. The Company
recorded a loss of $89,808 ($0.00 per share) in the six months ended
April 30(th), 2012 as compared to a loss of $69,225 ($0.00 per share) in the same
period last year.
K. Barry Sparks, the President of Cencotech, stated "The Company is
making good progress in moving new product sales opportunities forward,
particularly with respect to our Currency Controller and related
software offerings. New customers for the Company's products are
increasingly requesting that products be offered on a "software as a
service" basis (SaaS), as opposed to purchasing a term licence for such
software from the Company. The impact of this on Cencotech is that
instead of receiving a periodic relatively large lump sum term licence
fee, a successful sale will be reflected in larger monthly recurring
revenue streams. Over time, this should smooth out the "lumpiness" in
reported revenue on a quarterly basis. This would be a good change, all
things considered."
Cencotech Inc. 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's proprietary software products for this
market are "open-architectured" and have been developed to interface
with clients' 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.
To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/June2012/26/c4248.html
SOURCE: CencoTech Inc.
Mr. K. Barry Sparks President (416) 369-6081 mailto:kbsparks@cencotech.com
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