January 02, 2008 08:00 ET

JEMTEC First Quarter Results

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 2, 2008) - JEMTEC (TSX VENTURE:JTC) ("JEMTEC" or the "Company") comments on financial results for the first quarter ended October 31, 2007. All results are expressed in Canadian dollars and are reported in accordance with Canadian Generally Accepted Accounting Principles (GAAP).

Increased Revenues - Overall revenues have increased by 6% to $742,964 in the quarter ended October 31, 2007 compared to $700,496 for the same period in 2006. The Company continued to earn solid revenue on its main contracts with an increase in the number of monitored clients.

Increased Net Earnings - For the quarter ended October 31, 2007, net earnings increased by 49% to $193,933 or $0.08 per common share from $129,905 or $0.06 per share for the quarter ended October 31, 2006. This increase in net earnings is attributable to increased revenues and reduced costs of 4%.

Increased Liquidity - The Company's cash and cash equivalents increased to $2,958,530 as of October 31, 2007 from $2,786,723 as of July 31, 2007. The Company had working capital of $2,890,571 as of October 31, 2007 compared to working capital of $2,694,273 as at July 31, 2007.

Established in 1981, JEMTEC holds exclusive rights for a variety of offender community control technologies and is the leading provider of community offender monitoring solutions to Canadian Corrections. The common shares of JEMTEC trade through the facilities of the TSX-Venture Exchange under the symbol JTC.

This news release may contain forward-looking information. Actual future results may differ materially. All figures are in Canadian dollars. The risks, uncertainties, and other factors that could influence actual results are described in the Company's annual report to shareholders and in TSX reports.

The TSX-Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • JEMTEC Inc.
    Eric Caton
    1-877-929-4198 (FAX)