JEMTEC INC. TSX-V: JTC
VANCOUVER, July 8, 2019 /CNW/ - JEMTEC Inc. (TSX-V: JTC)
(the "Company") is pleased to provide an update on its Third
Quarter performance for the period ended April 30, 2019. The following results show the
Company continues to improve it's financial strength, with no debt,
strong liquidity and increasing net worth.
Q3 Revenues and Expenses
Revenues decreased by 3%
during the quarter ended April 30,
2019, compared to the quarter ended April 30, 2018, while Expenses decreased by 9%
compared for the quarter ended April 30,
2018, due to the Companies continuous work on cost
controls.
Q3 Net Income
Net Income increased by 20% compared to
the quarter ended April 30, 2018 as
the Company recorded net income of $142,929, compared to Net Income of $119,200 for the quarter ended April 30, 2018.
Q3 Liquidity
At April 30,
2019, the Company had Cash and Cash equivalents of
$2,093,705 compared $1,590,005 for the quarter ended April 30, 2018, while the Companies Working
Capital increased to $1,928,434,
compared to $1,121,802 for the
quarter ended April 30, 2018.
Eric Caton, President and CEO
said, "We are pleased with the Q3 results and see a profitable and
stable next three months ahead with the Company well positioned to
increase its market share." Jemtec has provided a full spectrum of
monitoring technologies and services to provincial and federal
correctional and border services across Canada since 1987 and in doing so has built a
reputation for offering the best technological solutions and
support for use in this demanding environment.
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking
statements, which relate to
future events or future
performance and reflect management's current expectations and
assumptions. Such forward- looking statements reflect management's
current beliefs and are based on assumptions made by and
information currently available to the Company. Investors are
cautioned that these forward-looking statements are neither
promises nor guarantees, and are subject to risks and uncertainties
that may cause future results to differ materially from those
expected. These forward-looking statements are made as of the date
hereof and, except as required under applicable securities
legislation, the Company does not assume any obligation to update
or revise them to reflect new events or circumstances.
Neither the 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.
SOURCE Jemtec Inc.