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ACT

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Share Name Share Symbol Market Type
TSXV:ACT TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Active Control Releases Fiscal 2012 Third Quarter Results

11/06/2012 4:31pm

Marketwired Canada


Active Control Technology Inc. (TSX VENTURE:ACT), a leading provider in the
design, manufacture and marketing of both wireless and fiber network solutions
for mine communications, the design and integration of wireless battery equipped
mobile platforms and the commercial security and access control industries,
today announced its financial results for the third quarter of fiscal 2012
ending April 30, 2012. 


The Corporation generated revenues of $1,199,358 during the quarter ended April
30, 2012, as compared to $603,201 in the quarter ended April 30, 2011. The
increase is attributable to the addition of the PowerCart product line, combined
with increased sales of the ActiveMine(TM) product.


For the nine month period ended April 30, 2012, the Corporation generated
revenues of $3,908,787, as compared to $2,162,552 in the corresponding period
ended April 30, 2011. The increase is attributable to the addition of the
PowerCart product line, combined with increased sales of the ActiveMine(TM)
product.


The Corporation generated a gross profit of $523,266 (43.6%) during the quarter
ended April 30, 2012, as compared to $204,144 (33.8%) in the quarter ended April
30, 2011. Gross profit increased as a result of the addition of the PowerCart
product line, combined with continuing operational efficiencies.


For the nine month period ended April 30, 2012, the Corporation generated gross
profit of $1,716,078 as compared to $748,206 in the corresponding period ended
January 31, 2011. Gross profit per cent improved from 34.6% to 43.9%.


The Corporation has historically reported on EBITDA, since management believes
its use provides more insight into the assessment of the Corporation's
performance. EBITDA is defined herein as earnings before income tax benefit
(expense), interest income (expense), depreciation and amortization and non-cash
stock-based compensation expense. EBITDA does not have any standardized meaning
prescribed by IFRS and therefore may not conform to the definition used by other
companies. EBITDA for the quarter ended April 30, 2012 was $93,919, as compared
to negative $219,326 in the corresponding quarter ended April 30, 2011. For the
nine month period ended April 30, 2012, the Corporation generated EBITDA of
$339,903 as compared to negative $547,416 in the corresponding period ended
April 30, 2011. 


The Corporation generated a net profit of $19,158 or $0.001 per share during the
quarter ended April 30, 2012, as compared to a net loss of $306,499 or $0.026
per share for the quarter ended April 30, 2011. The profit is attributed to an
increase in sales of the ActiveMine(TM) product, combined with increased product
margins while obtaining a significant decrease in operating expenses for the
quarter.


For the nine month period ended April 30, 2012, the Corporation generated a net
profit of $115,225, as compared to a net loss of $1,065,376 for the
corresponding period ended April 30, 2011. 


Priorities for the business in fiscal 2012 continue to include new PowerCart
opportunities, geographic expansion into new mine markets, a continued focus on
product development initiatives, with the objective of reducing product and
operational costs. Active is pleased with its continuing trend of generating
positive cash flow and operating results and expects this trend to continue
throughout fiscal 2012. 


About Active Control Technology 

Active Control Technology is a leading provider in the design, manufacture and
marketing of wireless and fiber network solutions for mine communications,
mobile power solutions and the commercial security and access control
industries. The Corporation has three product lines: ActiveMine(TM), a fully
integrated wireless and/or fiber communications and locating technology for
underground coal mines, PowerCart(TM), a leader in solutions requiring backup
and mobile power and ActiveSecure(TM), a family of wireless products for the
access control industry. Located in Burlington and Mississauga, Ontario, Canada,
and Medina, Ohio, USA, Active Control Technology trades publicly on the TSX
Venture Exchange under the symbol ACT. For more information, visit
www.activecontrol.com.


The unaudited consolidated financial statements for the third quarter ended
April 30, 2012 and April 30, 2011 and the management's discussion and analysis
of the results of operations can be found at www.sedar.com. 


Get more out of your mine.(TM)

Cautionary Note Regarding Forward-Looking Statements: This press release
contains forward-looking statements that involve risks and uncertainties, which
may cause actual results to differ materially from the statements made. When
used in this document, the words "may", "would", "could", "will", "intend",
"plan", "anticipate", "believe", "estimate", "expect" and similar expressions
are intended to identify forward-looking statements. Such statements reflect our
current views with respect to future events and, as such, are subject to risks
and uncertainties. Many factors could cause our actual results to differ
materially from the statements made, including those factors discussed in
filings made by us with the Canadian securities regulatory authorities. Should
one or more of these risks and uncertainties, such as changes in demand for and
prices for the products of the Company or the materials required to produce
those products, labour relations problems, currency and interest rate
fluctuations, increased competition and general economic and market factors,
occur or should assumptions underlying the forward looking statements prove
incorrect, actual results may vary materially from those described herein as
intended, planned, anticipated, or expected. We do not intend and do not assume
any obligation to update these forward-looking statements, except as required by
law. The reader is cautioned not to put undue reliance on such forward-looking
statements.


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