TORONTO, June 24, 2013 /CNW/ - Cencotech Inc. (CTZ -
TSX-V) today reports the results of operations for the first
six months and the second quarter of fiscal 2013, ended
April 30th. All amounts referenced
herein are in Canadian dollars. Revenue for the second quarter was
$272,710 as compared to $311,715 for the same period last year. Net
income for the quarter of $26,379
($0.00 per share) was recorded as
compared to a loss of $67,080
($0.00 per share) for the three
months ended April 30th,
2012.
Revenue for the first six months of fiscal 2013
was $503,598 as compared to revenue
in the same period last year of $551,221. The Company recorded net income of
$22,389 ($0.00 per share) in the six months ended
April 30th, 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 continuing to
make progress in moving new product sales opportunities forward,
particularly with respect to our Cirreon SaaS 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. While as noted previously, this
reduces the recording of one time larger licence sales completions,
we are completing more deals on a contracted 'pay as you go' usage
basis. Recurring contracted software revenue accounted for 73.6% of
total sales in the quarter ended April 30,
2013, as compared to 56.6% in the same period last
year."
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.
SOURCE CencoTech Inc.