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VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 05/28/12 -- Cantronic Systems Inc. ("Cantronic" or the "Company") (TSX VENTURE:CTS)(PINKSHEETS:CRIXF) today announced its financial results for the fourth quarter and twelve-month period ended January 31, 2012 ("FY 2012"). All amounts are reported in Canadian dollars unless otherwise stated.
Selected highlights of the year:
Financial:
-- Revenue of $17.2 million from continuing operations, an increase of 48%
compared to $11.6 million for the previous fiscal year.
-- Adjusted EBITDA (a non-GAAP term) from continuing operations was $1.46
million compared to $1.50 million for 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 $6.0 million (35% of revenue)
compared to $4.3 million (37% of revenue) for the previous financial
year.
-- Net loss from continuing operations was $30K vs.