Cantronic Reports Results for Q2 Ended July 31, 2011: Revenue Increased 31.5%, Adjusted EBITDA by 52% and Net Income by 405%
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/19/11 -- Cantronic Systems Inc., ("Cantronic" or the "Company") (TSX VENTURE: CTS)(PINK SHEETS: CRIXF) today announced its financial results for the second quarter of fiscal year 2012, ended July 31, 2011. All amounts are reported in Canadian dollars unless otherwise stated. Selected highlights of the quarter and subsequent events:
Financial:
Business:
"Revenue, adjusted EBITDA and net income increased significantly in Q2, reflecting efforts the company has made in marketing. In the quarter, Cantronic announced a $4.5 million integration contract for a private video security system with excellent payment terms and the Company is completing a Safe City contract announced earlier. The company will continue to seek additional integration contracts while producing product under OEM and ODM agreements and selling to our local customers. We also plan to develop distribution of our high-speed IP dome cameras, IP cameras and software in North America," remarked James Zahn, President and CEO of Cantronic Systems Inc.
"The planned sale of Yellow River will improve our working capital and makes it unnecessary for the Company to raise additional equity in the immediate near-term. We have had several consecutive quarters of profitability and positive adjusted EBITDA. With positive cash flow from operations and positive working capital at the end of the second quarter, this will enable us to seek more integration contracts for networked video surveillance systems, which generally have higher gross margin than product sales," said Mr. Zahn.
Regulatory Filings
The material will be available through SEDAR at and on the Company's website,
About Cantronic Systems Inc.
Cantronic Systems Inc. manufactures, distributes, and provides training and services in the fields of IP- based networked video security surveillance technologies, specializing in networked video management software and video analytics, IP cameras, speed dome cameras, high definition video surveillance cameras and night vision surveillance systems for demanding security and surveillance applications.
Cantronic, through its China subsidiaries Cantronic Security Systems (China) Co. Ltd., Beijing Advanced Videoinfo Technology Co. Ltd. ("AVINFO"), Shenzhen Huanghe Digital Technology Co. Ltd. ("Yellow River") and Actiontop Electronics (Shenzhen) Co. Ltd. ("Actiontop") provides high-speed and digital networked video surveillance solutions to government and corporate customers in China.
Cantronic is a Tier 1 issuer on the TSX-V exchange, trading under the symbol CTS. For further information about Cantronic and Cantronic China, please visit our websites at and .
Forward-looking statements
This news release contains forward-looking statements, within the meaning of applicable securities legislation, concerning Cantronic Systems Inc. and the markets in which it operates. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements of Cantronic to be materially different from any future results, performance or achievements expressed or implied by said forward-looking statements.
Forward-looking statements include, but are not limited to: the completion of the Proposed Transaction, anticipated share capital following completion of the Proposed Transaction, expectations, opinions,forecasts, projections and other similar statements concerning anticipated future events, conditions or results that are not historical facts. In certain cases, forward-looking statements can be identified by the use of words such as "plans," "expects" or "does not expect," "is expected," "budget," "scheduled," "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved."
Readers are cautioned not to place undue reliance on such forward-looking statements. Forward- looking information is provided as of the date of this news release, and Cantronic Systems Inc. assumes no obligation to update or revise them to reflect new events or circumstances, except as may be required under applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Cantronic Systems Inc.
James Zahn
Chief Executive Officer
604-516-6667 ext 228
Cantronic Systems Inc.
Lawrence Casse
Investor Relations
416-992-7227
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Datum: 19.09.2011 - 11:00 Uhr
Sprache: Deutsch
News-ID 66953
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