Cantronic Reports Results for the Quarter Ended October 31, 2012
VANCOUVER, BRITISH COLUMBIA, Dec 27, 2012 (Menafn - Marketwire via COMTEX) --Cantronic Systems Inc., ("Cantronic" or the "Company") today announced its financial results for the third quarter ended October 31, 2012 ("FY13 Q2"). All amounts are reported in Canadian dollars unless otherwise stated.
Selected highlights of the quarter:
--Revenue of 4.0 million from continuing operations, a decrease of 7%
compared to 4.3 million for the corresponding quarter of the previous
fiscal year.
--Adjusted EBITDA (a non-GAAP term) from continuing operations was
negative 562K compared to negative 685K for the corresponding quarter
of the previous fiscal year. The Company uses adjusted EBITDA (a non-
IFRS financial measure) internally to make strategic decisions, forecast
future results and evaluate its performance, defined as net income
before interest, income taxes, depreciation, amortization, stock option
compensation expenses, foreign currency loss, and minority interest.
--Gross margin from continuing operations of 806K (20% of revenue)
compared to 1,093K (25% of revenue) for the corresponding quarter of
the previous fiscal year.
--Net loss from continuing operations was 660K compared to a net loss of
844K in the corresponding quarter of the previous fiscal year.
Operating Results
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(000's except per share amounts)
FY13 3rdFY12 3rd
QuarterQuarter
Revenue from Continuing Operations4,0044,292
Adjusted EBITDA(562)(685)
Net income attributable to the owners of the Company(587)(877)
Net earnings (loss) per share, basic and diluted(0.006)(0.008)
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Regulatory Filings
The material will be available through SEDAR at www.sedar.com and on the Company's website, www.cantronicsecurity.com.
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 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 www.cantronicsecurity.com and www.cantronics.com.cn.
FOR FURTHER INFORMATION PLEASE CONTACT: Cantronic Systems Inc. James Zahn Chief Executive Officer 604-516-6667 ext 228 jzahn@cantronics.com www.cantronicsecurity.com
SOURCE: Cantronic Systems Inc.
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