DEQ Announces Operating Costs Reduction
March 31 2011 - 4:58PM
Marketwired
DEQ Systems Corp. ("DEQ" or the "Company") (TSX VENTURE: DEQ), a
leading provider of table game bonusing, jackpot and loyalty
solutions, announces today that it has completed an important
operational expense reduction plan that sees the company's annual
operational costs reduced by more than $500,000 from the current
amount of $3,800,000. DEQ has realigned its operational cost
structure with its current revenue streams and does not foresee any
major impact on the current speed of growth of installations of the
company.
"With the end of the Severn project and the associated loss of
royalties, the Board of directors and management felt it necessary
to review all operational expenses," stated Earle G. Hall,
President & CEO of DEQ. "DEQ's installation growth rate is very
impressive thus far in 2011 but it is important to align our
operational expenses with the current revenue streams. DEQ's
management team has contributed to the reduction in expenses by
salary reductions as well as the restructuring of the operations of
their departments. On behalf of the Board of directors of DEQ, I
would like to congratulate the management team for this initiative
focused on maintaining the performance potential, solid cash
position and proactively ensuring the long term viability of DEQ
while always keeping the shareholder value at heart."
ABOUT DEQ
DEQ Systems Corp. (TSX VENTURE: DEQ) is a global provider of
gaming technology in over 30 countries. Protected by more than 20
patents in 50 countries, DEQ specializes in progressive and random
bonusing systems for table games. DEQ's innovation and ingenuity
has been to replace the single dollar coin slot and sensor with its
internationally award winning G3™ technology. The G3 incorporates
multiple credit betting, dealer hand betting and mystery bonusing.
DEQ also commercializes technology and patents including the award
winning baccarat revolution, EZ Baccarat™ and related auxiliary
products such as EZ Trak™. DEQ is and will continue to lead
innovation in the table game bonusing segment of the global gaming
market. For further information, please visit www.deq.com.
TSX Venture does not accept any responsibility regarding the
accuracy of the information contained in this press release.
Forward-looking statements contained in this Press Release
involve known and unknown risks, uncertainties and other factors
that may cause actual results, performance and achievements of the
Company to be materially different from any future results,
performance or achievements expressed or implied by the said
forward-looking statements.
Contacts: DEQ Systems Corp. Earle G. Hall President & CEO
418-839-3012 earle.hall@deq.com DEQ Systems Corp. Francois Proulx
Chief Financial Officer 418-839-3012 francois.proulx@deq.com