Cencotech reports results of operations for the third quarter, July 31st, 2012
18 September 2012 - 6:47AM
PR Newswire (Canada)
TORONTO, Sept. 20, 2012 /CNW/ - Cencotech Inc. today reports the
results of operations for the first nine months of fiscal 2012,
ended July 31st. All amounts referenced herein are in Canadian
dollars. Revenue for the third quarter was $184,443 as compared to
$175,945 for the same period last year. A loss for the quarter of
$63,842 ($0.00 per share) was recorded as compared to a loss from
operations of $112,399 ($0.00 per share) for the three months ended
July 31, 2011. Revenue for the first nine months of fiscal 2012 was
$735,644 as compared to revenue in the same period last year of
$728,595. The Company recorded a loss of $153,650 ($0.01 per share)
in the nine months ended July 31, 2012 as compared to a loss of
$181,624 ($0.01 per share) in the same period last year. K. Barry
Sparks, the President of Cencotech stated: While the Company did
not complete any new software licence sales in this quarter,
recurring revenue from the sale of Software as a Service ("SaaS")
has come along nicely. Users of the Company's various SaaS
offerings are providing very positive feedback with respect to the
ease and utility of this approach to software products. We
therefore expect recurring revenue to accelerate as we move
forward." 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. CencoTech Inc. CONTACT: Mr. K. Barry
SparksPresident(416) 369-6081mailto:kbsparks@cencotech.com
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