CTZ NamSys Inc

TORONTO, Sept. 28 /CNW/ -- TORONTO, Sept. 28 /CNW/ - Cencotech Inc. (CTZ - TSX-V) today reports the results of operations for the first nine months of fiscal 2010, ended July 31st.  All amounts referenced herein are in Canadian dollars.  Revenue for the third quarter was $200,554 as compared to $177,882 for the same period last year. A loss for the quarter of $73,894 ($0.00 per share) was recorded as compared to a loss from operations of $71,927 ($0.00 per share) for the three months ended July 31, 2009. Revenue for the first nine months of fiscal 2010 was $1,241,815 as compared to revenue in the same period last year of $743,481. The Company recorded a profit of $23,749 ($0.00 per share) in the nine months ended July 31, 2010 as compared to a loss of $202,674 ($0.01 per share) in the same period last year. K. Barry Sparks, the President of Cencotech, stated: "Again this quarter the results of the Company do not reflect any new transactions under the IBM Reseller Agreement entered into earlier this year. Cencotech and IBM are making solid progress in moving opportunities forward with some of the larger U.S. banks that have favourably tested the Company's products. It appears that the continuing weakness in the U.S. economy is causing larger organizations to delay the completion of transaction commitments until a clearer picture of the future evolves. However, we continue to believe that significant sales gains will be forthcoming in the foreseeable future through the completion of transactions for our "Currency Controller ™" products. In the meantime, the Company is seeing commitments made by smaller institutions and anticipates the continuation of this trend going forward." Cencotech 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. Cencotech's 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. pMr. K. Barry Sparksbr/President       br/(416) 369-6081       br/a href="mailto:kbsparks@cencotech.com"mailto:kbsparks@cencotech.com/a/p

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