LEVIS, QUEBEC--(Marketwire - April 20, 2012) - Nuvolt Corporation inc. ("Nuvolt") (TSX VENTURE:NCO.V - News) announces the filling of its quarterly financial statements, for the second quarter of the fiscal year 2011-2012.
"The results of the quarter ended February 29, 2012 do not well represent all efforts Nuvolt engaged to accelerate the development of its business plan's strategies following the closing of a financing at the end of August 2011." says Mr. Jacques Dion, President and Chief Executive Officer. "The second quarter of fiscal year 2011-2012 was occupied to evolve the sales strategy of the SmartScan, to launch the SmartScan Pro and ShipScan manufacturing and to negotiate distribution agreements in the industrial and commercial markets. The next two quarters will be marked by the arrival on the market of ShipScan and SmartScan Pro products as well as the consolidation of SmartScan's sales." concludes Mr. Dion.
Quarterly Highlights :
-- Turnover increased by 2.4% for the quarter and by 17.7% for the six-
month period ended February 29, 2012, as compared to the same periods of
last fiscal year.
-- First two SmartScan sales issued by the Optimum/Agrivolt Program
-- Hiring of a sales representative for the center of the USA
-- Conclusion of a distribution agreement for the SmartScan Pro in the
industrial market with Tosbec Distribution, a business unit of Delom
-- Conclusion of a distribution agreement for the agriculture products with
Penner Farm Services for the Ontario market
-- Conclusion of a collaboration agreement with Cominar Real Estate
Investment Trust to adapt the SmartScan Pro system to the needs of
commercial buildings owners
The quarterly financial statements and the management report can be view on the System for Electronic Documents Analysis and Retrieval (SEDAR), available at www.sedar.com.
About Nuvolt Corporation Inc.
Nuvolt has developed a specialized expertise in the monitoring and the management systems for electrical failures, power quality, the detection and neutralization of leakage current for the agriculture, maritime, commercial and industrial markets. SmartScan is now available to the agriculture market. The SmartScan system has the ability to predict an electrical failure on equipment and electrical networks. It could prevent equipment failures and production downtime on production assembly lines and commercial buildings and also fire risks. The ShipScan, for the maritime market, and the SmartScan Pro, for the industrial market, are under manufacturing. The first deliveries to customers are planned for May 2012.
Certain statements contained in this press release constitute forward-looking information. Such statements are based on the current expectations of management. You are cautioned that such statements can be subject to a multitude of risks and uncertainties that could cause actual results, future circumstances or events to differ materially from those projected in the forward-looking information. The reader should not place undue reliance on the forward-looking information included in this press release given that (i) actual results could differ materially from a conclusion, forecast or projection in the forward-looking information, and (ii) certain material factors or assumptions were applied in drawing a conclusion or making a forecast or projection as reflected in the forward-looking information could prove to be inaccurate. These statements speak only as of the date they are made, and Nuvolt assumes no obligation to revise such statements as a result of any event, circumstance or otherwise, except in accordance with law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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