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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 Technology Releases Fiscal 2011 Results

25/11/2011 8:36pm

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, and the commercial security and access control
industries, today announced its financial results for the fiscal year ended July
31, 2011.


The Corporation generated revenues of $2,948,429 during the year ended July 31,
2011, as compared to $5,310,491 in the year ended July 31, 2010. The decrease is
attributable to a decline in the deployment of new ActiveMine mine sites,
combined with an unusual increase in revenue for 2010 as a result of a backlog
in prior years from existing customers. Although sales were lower the
Corporations gross profit increased from $611,150 in fiscal 2010 to $1,103,196
in fiscal 2011. More significantly the gross margin percentage rose from 12% in
2010 to 37% for the year ended July 31, 2011.


"I am pleased with the success we have had during the year enhancing our
ActiveMine(TM) business and providing a product that our customers can rely on,"
said Jonathan Emanuel, President and CEO.


The Corporation incurred a net loss of $722,890 or $(0.06) per share during the
year ended July 31, 2011, as compared to a net loss of $4,299,079 or ($0.40) per
share for the year ended July 31, 2010. The significantly lower loss was
attributed to higher gross profit and reduced administrative costs.


"It is rewarding to see the success we had as a business during the year
improving our margins and reducing our operational costs," said Graham Warren,
CFO. "We will continue to focus heavily on maintaining margins and keeping
operating costs in line with our level of business."


About Active Control Technology

Active Control Technology is involved in the design, manufacture and marketing
of both wireless and fiber network solutions for mine communications, and the
commercial security and access control industries. The Corporation has two
product lines: ActiveMine(TM), a new fully integrated wireless and/o r fiber
communications and locating technology for underground coal mines, and
ActiveSecure(TM), a family of wireless products for the access control industry.
The Corporation has recently acquired 100% of Powercart Systems Inc., a
manufacturer of mobile power solutions in the retail, warehousing, courier, and
mining industries. Located in Burlington, Ontario, Canada, Active Control
Technology trades publicly on the TSX Venture Exchange under the symbol ACT. For
more information, visit www.activecontrol.com.


The audited financial statements for the fiscal years ended July 31, 2011 and
July 31, 2010, and 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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