SAMSys Technologies Inc. Reports Annual Financial Results For Fiscal 2001
Stock Symbol: SMY
Listing: Canadian Venture Exchange (CDNX)
Outstanding Shares: 20.7 Million
Web Site: www.samsys.com
TORONTO, Feb. 18 /CNW/ - SAMSys Technologies Inc., ("SAMSys"),
(SMY:CDNX), www.samsys.com, of Toronto, a provider of Radio Frequency
Identification (RFID) reader hardware, today reports on the Company's 2001
annual financial results for the year ended September 30, 2001.
Financial Highlights:
- SAMSys generated revenues of $3,089,861 in fiscal 2001, compared to no
revenues earned in 2000.
- In fiscal 2001, SAMSys recorded a net loss of $2,817,598 or $0.15 loss
per share compared to a net loss of $647,378 or $0.04 loss per share in
fiscal 2000. The net loss for fiscal 2001 includes $2,092,616 of
non-cash charges including amortization of goodwill and development
costs compared to $39,533 of non-cash charges in fiscal 2001.
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Consolidated Financial Fiscal Year Ended Fiscal Year Ended
Statement - Audited September 30, 2001 September 30, 2000
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Revenues $3,089,861 $0
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Gross profit 1,049,465 0
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Amortization of assets 2,092,616 39,533
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Net income (loss) (2,817,598) (647,378)
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Earnings (loss) per share (0.15) (0.04)
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Weighted average number of
outstanding shares 18,600,471 17,204,204
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>>
"This past year we achieved significant milestones, recording revenues
for the first time and demonstrating in pilot programs a level of
technological and product realization which is unmatched within the RFID
Industry", says Cliff Horwitz, CEO of SAMSys. "Our stated goal of establishing
SAMSys as the most significant and comprehensive supplier of passive RFID
reader technology is fast becoming a reality; if, in fact, we are not already
there. This year we intend to leverage our recent accomplishments on a much
grander scale and we are in the process of formulating plans that allow us to
realize the enormous opportunity that exists."
About SAMSys Technologies Inc.
SAMSys Technologies Inc., headquartered in Richmond Hill, ON, Canada, is
a leading global developer of Radio Frequency Identification (RFID) reader
hardware technology, capable of identifying and tracking RFID tags, smart
labels and cards supplied by various manufacturers. RFID is an enabling
technology for the next generation of asset protection, item management,
inventory control, supply chain management, logistics support systems and
financial transaction processing. SAMSys Technologies Inc. is a public company
whose shares are listed for trading on the Canadian Venture Exchange under the
symbol: "SMY". The Company has a total of 20,706,498 shares outstanding. Visit
SAMSys at: www.samsys.com and www.investorfile.com. |
