Cell-Loc Location Technologies Inc.

Cell-Loc Location Technologies Inc.

May 05, 2010 19:10 ET

Cell-Loc Reports 2009 Financial Results

CALGARY, ALBERTA--(Marketwire - May 5, 2010) - Cell-Loc Location Technologies Inc. (TSX VENTURE:XCT) reports annual revenue of $4,323,000 representing growth of 11% from the prior year. Gross Margin increased by 39% to $4,052,000. Although the Company recorded these top line increases, it fell short of planned growth. As a result, Cell-Loc still recorded a net loss of $2,739,000 during the year.

The complete financial statements along with management's discussion and analysis can be found on the Company's website (www.cell-loc.com) and on SEDAR (www.sedar.com).

About Cell-Loc Location Technologies Inc.
Cell-Loc Location Technologies Inc. (www.cell-loc.com) is the developer of a family of network-based wireless location products that enable location-based services. Located in Calgary, Alberta, Cell-Loc currently develops, markets and supports its patented wireless location technology in North and South America and Asia, with a view to expanding globally. Cell-Loc is listed on the TSX Venture Exchange under the trading symbol: "XCT".

Forward Looking Statements: This news release contains certain information that may constitute forward-looking statements under applicable securities laws. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable by the Company at the time of preparation, may prove to be incorrect. Actual results achieved may vary from the results anticipated or implied herein and variations may be material. There is no representation by the Company that actual results achieved will be the same in whole or in part as those implied in any forward looking statements.

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For further information about Cell-Loc and the ongoing technology business, please contact Sheldon Reid or Dave Guebert.

The TSX Venture Exchange has neither approved nor disapproved of the contents of this news release.

Contact Information

  • Cell-Loc Location Technologies Inc.
    Sheldon Reid
    President & CEO
    Cell-Loc Location Technologies Inc.
    Dave Guebert
    Vice President Finance & CFO