ZTEST - Nine Months Sales Increase 233 Percent
TORONTO, ONTARIO--ZTEST Electronics Inc., ("ZTEST") is pleased to announce that for the nine month period ended March 31, 1998 consolidated revenue increased 233 percent from last year's results for the same period, improving to $3,437,237 from $1,033,264. ZTEST also generated a small profit of $14,641 for this nine month period, in spite of many one-time expenses related to both the Chessen acquisition and ZTEST's successful Standard & Poor's listing in the United States.
The improved sales figure reflects the strong growth occurring at Chessen U.V. Systems Inc. ("Chessen"), in which ZTEST acquired a 53.26 percent ownership position. Chessen, ZTEST's third Strategic Partner, is involved in the rapidly growing field of Advanced Surface Engineering Technologies, marketing and selling their thin film Physical Vapor Deposition ("PVD") and U.V. Processor systems throughout the world.
ZTEST's other Strategic Partners, Nexsys Commtech International Inc. ("Nexsys") of Waterloo, Ont., UNIQRYPT Technologies Inc. of Mississauga, Ont. and Gametele Systems Inc. of Oakville, Ont. continue to make progress in the development and marketing of their respective products. Nexsys has recently initiated the placement of manufacturing orders with ZTEST, necessary to start the first three (3) initial pilot installations of its Gateway System technology in Waterloo, Ontario; Cornwall, Ontario and Fort Wayne, Indiana.
In addition to its proprietary line for Automatic Test Equipment, ZTEST offers Strategic Partner services in electronic design, development and manufacturing to emerging high tech companies in return for long-term manufacturing contracts, fees for services and equity positions.