Cencotech reports results of operations for the third quarter, July 31st, 2012

    




 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:[e-mail] 


    

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