Here is another interesting company to keep an eye on.
Sentex Systems Ltd.: Press Release
4/2/03
OSHAWA, ONTARIO, Apr 2, 2003 (CCNMatthews via COMTEX) --
Sentex Systems Ltd. ('Sentex') (TSX Venture: SXS) is pleased to report that revenue for the year ending on Dec. 31, 2002 was $5,142,272. This is an increase of 14.9% making 2002 our best year ever. Net income after taxes for the fiscal year of 2002 was $485,843, which is $0.04 per share compared to $359,318 ($0.03 per share for 2001).
The past year was not only our best year to date, but was also a year of growth and expansion for Sentex, having acquired Natunola Health Inc. in June, 2002. The result was all the more impressive having been impacted by start up costs and expenses of $226,527 due to the acquisition of Natunola Health.
Fourth quarter sales were a record breaking, $1,952,653 and net profit was $174,708 after absorbing Natunola Health operational and expansion costs of $177,000.
Natunola Health was acquired during the year and is now a division of NutriBios Corp. It is a leading manufacturer and researcher in the field of flax seed derived Omega-3 fatty acids, specialty natural products, bio-nutrients and functional supplements. Flax seed and its derivatives are generating a lot of excitement in the agricultural industry as well as in the media and Natunola Health is leading the way in research and development. Natunola Health has built the worlds first flax seed de-hulling operation in Winchester, Ontario. This state of the art facility uses a patented process to efficiently separate the flax seed from the hull.
Pharmaceutical growth promoters and antibiotics are banned in the European Common Market and Japan. These products are receiving increasing regulatory and consumer resistance in North America and other market places. Nutribios, our wholly owned subsidiary, is a leading provider of natural, environmentally friendly alternatives to the increasingly unpopular pharmaceutical growth promoters and antibiotics. We are at the forefront of industry trends in our product research, development and marketing. Our innovative trial-proven bioactive natural product lines are made from GRAS grade natural additives. We utilize the latest strategies in fermentation, bioengineering, separation science and analytical biochemistry in our research and manufacturing. Yet our products are cost effective, viable alternatives to pharmaceutical growth regulators and antibiotics. In a global animal biotech market with over 2 billion dollars in sales, Nutribios is receiving excellent marketplace acceptance of its natural bio-nutrient products and looks forward to expanding its market share in 2003.
Sentex is on the cutting edge of technology and market place trends. Through Nutribios and Natunola Health, Sentex is at the forefront of research and development in the international marketplace. Nutribios conducts field studies with universities on two continents, as well as in-house research, developing the next generation of bio-nutrients. Based on the strength of our research and development we continue to gain market share and international acceptance.
Our record breaking financial results reflect the outstanding efforts of our management as well as the dedication and professionalism of our employees. Together we produce a top quality product that is in demand around the world.
Operating margins and sales for both divisions have continued to improve over those of previous years while we continue to remain committed to controlling operating expenses and expanding our market share. At Sentex. we strive to achieve a superior level of profitability for the company and its shareholders.
Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.
Sentex Systems Ltd. Mr. Charles Roy (905) 432-3558 (905) 432-2493 (FAX) sentex@nutribios.com
NEWS RELEASE TRANSMITTED BY CCNMatthews The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.
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