VANCOUVER, BRITISH COLUMBIA — (Marketwire) — 07/27/11 — Cantronic Systems Inc., (“Cantronic” or the “Company”) (TSX VENTURE: CTS)(PINK SHEETS: CRIXF) today announced its financial results for the first quarter of fiscal year 2012 ended April 30, 2011. All amounts are reported in Canadian dollars unless otherwise stated. Cantronic is reporting results from continuing and discontinued operations to allow investors to review Cantronic-s China-based video surveillance technology and solutions business separately from the North American thermal imaging business (which was sold during the first quarter of fiscal year 2012).
Selected highlights of the year and subsequent events:
Financial:
“Revenue from continuing operations almost tripled in Q1 FY 2012, with adjusted EBITDA increased significantly and the Company reporting positive net earnings from continuing operations. This was achieved in what is usually the least seasonally strong quarter due to the Chinese New Year holidays. Cantronic has continued to announce integration contracts for the Chinese video security and surveillance market and ODM agreements with major industry players as well as providing its key technologies in video management software, IP video cameras and dome cameras,” remarked James Zahn, President and CEO of Cantronic Systems.
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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