NamSys Reports Results of Operations for the Third Quarter, July 31, 2021
24 9월 2021 - 3:10AM
Business Wire
NamSys Inc. (CTZ – TSX-V) today reports the results of
operations for the first nine months and the third quarter of
fiscal 2021 ended July 31st. All amounts referenced herein are in
Canadian dollars. Revenue for the third quarter was $1,231,223 as
compared to $1,196,264 for the same period last year; an increase
of 2.9%. Net income for the quarter of $328,890 ($0.01 per share)
was recorded as compared to $156,638 ($0.01 per share) for the same
period last year.
Revenue for the first nine months of fiscal 2021 was $3,702,296
as compared to revenue in the same period last year of $3,509,996;
an increase of 5.5%. The Company recorded net income of $944,851
($0.03 per share) in the nine months ended July 31st, 2021 as
compared to $822,857 ($0.03 per share) in the same period last
year.
As the bulk of the Company’s sales are in US dollars,
fluctuations in the exchange rate between Canadian and US dollars
impact reported income. Revenues are converted to Canadian dollars
when sales are completed and booked. Foreign exchange adjustments
are then required when payments are actually received.
The financial statements and Management’s Discussion and
Analysis for the fiscal quarter ended July 31, 2021 are available
under the Company’s profile on SEDAR at www.sedar.com.
The “Smart Safe” solution is only one of many initiatives that
NamSys is taking to streamline the processing of currency. The
present “Cirreon” initiatives include:
- Web and mobile applications for commercial/online banking
- Logistics management for cash-in-transit providers
- Exploring industries with similar high-security logistics
challenges
These changes to traditional practices take time for the parties
to understand and internalize. While we are spending considerable
time to move the above initiatives forward, the operating results
are now starting to reflect the fruits of our labour. This includes
the recent execution of new distribution agreements with several
North American Cash in Transit companies.
It remains our belief that we will continue to grow and achieve
greater revenue and profitability in 2021 and beyond. This is
particularly so, given that industry shows and conferences are
again being planned for 2022. These functions give management the
opportunity to present new or upgraded products to participants
with hands-on demonstrations.
NamSys Inc. products are designed to bring efficiency to the
processing of currency and other value instruments in financial
institutions, large retailers, public transportation operations and
the gaming industry. NamSys’ proprietary software products for this
market are “open-architectured” and have been developed to
interface with clients’ legacy systems.
The TSX Venture Exchange has neither approved nor disapproved of
the information contained in this release. This Media Release may
contain forward-looking statements, which reflect the Corporation’s
current expectations regarding future events. The forward-looking
statements involve risks and uncertainties. Actual events could
differ from those projected herein and depend on a number of
factors including the success of the Corporation’s sales
strategies.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210923005864/en/
Mr. K. Barry Sparks, Executive Chairman (416) 369-6081
mailto:kbsparks@namsys.com
NamSys (TSXV:CTZ)
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NamSys (TSXV:CTZ)
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