TORONTO, Sep. 20, 2012, 2012 (Canada NewsWire via COMTEX) --
Cencotech Inc. (CTZ - TSX-V) 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.