November 30, 2007 08:00 ET

Syscan Reports Revenue Increased 297% in First Quarter

MONTREAL, QUEBEC--(Marketwire - Nov. 30, 2007) - Syscan International Inc. (TSX VENTURE:SYA) today reported its results for the first quarter of fiscal 2008 ended September 30, 2007, which continues a trend of consecutive quarters posting significant sales increases.

The Company's new strategy is showing great results. Sales increased 297% for the three-month period to $1,293,145 over $325,728 in the first quarter of the previous year. The results, in part, were propelled by a previously announced, large $2M order from our Australian acquisition. This order was partially shipped and will continue into the 2nd fiscal quarter.

Three Months Ended September 30, 2007, compared to three months ended September 30, 2006:

Q1 FY 2008 Q1 FY 2007 % Change
------------- ------------- ----------
Revenues $ 1,293,145 $ 325,728 Up 297%
Cost of Sales $ 778,221 $ 145,090 Up 436%
Gross Margin $ 514,924 $ 180,638 Up 185%
Operating Expenses $ 617,598 $ 279,559 Up 121%

Net Profit (Loss) $ (165,670) $ (219,760) Cut 24.6%

Joseph Tassone, President and CEO of Syscan said "The first quarter results indicate that our strategy to accelerate growth by combining both organic sales increases and acquisitions is producing results. This marks a fantastic start to, what is shaping up to be, a promising new year."

Consolidating operational costs for the Australian subsidiary on top of increased sales costs overall, resulted in operating expenses moving higher to $617,598 compared to $279,559 in the first quarter fiscal 2007, which was in line with expectations.

The increase in sales, good margins and a rein on administrative costs all contributed to the Company cutting its net loss 24.6% to $165,670 for the quarter, compared to a net loss of $219,760 in first quarter in the previous year.

"The outlook for the second quarter is to continue our upwards quarter-on-quarter trend. We are on the right track operationally and we have a number of acquisition opportunities under evaluation to add to our growth path.," commented Mr. Tassone.

To view the Company's financial statements and management's discussion and analysis for the period, please visit

About Syscan International Inc.

Syscan is a world class supply chain solution provider that delivers integrated real-time tracking and tracing systems that improve business efficiency through Radio Frequency Identification (RFID). Its standardized supply chain solutions include traceability, temperature monitoring and quality control methodologies for the food, pharmaceutical and healthcare sectors. Shares of Syscan trade on the TSX Venture Exchange under the symbol SYA. There are approximately 47.2 million shares outstanding.

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NOTE: To view the "Consolidated Statement of Loss" table, please visit the following link -

The TSX Venture Exchange has not reviewed this release and it does not accept responsibility for its adequacy or accuracy.

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