May 31, 1999 - ZTEST Net Income For Nine Months Improves Significantly
MISSISSAUGA, ONTARIO--ZTEST Electronics Inc., ZTST - CDN, ("ZTEST") is pleased to announce that for the nine month period ended March 31, 1999 consolidated revenue increased to $3,621,577 from $3,454,092 for the same period last year. The net income for this period increased significantly from last year's results, improving to $359,730 from $14,641.
During the month of March 1999, ZTEST delivered the first 500 remote sales terminals ordered by its strategic partner, Gametele Systems Inc. ("Gametele") of Mississauga, Ontario. Gametele is currently installing these terminals throughout Ontario to facilitate the sale and validation of tickets for a televised bingo game sponsored by the Ontario Brain Injury Association. The first televised bingo game, with tickets validated by the Gametele system, will be played on June 19, 1999.
UNIQRYPT Technologies Inc. ("Uniqrypt") of Mississauga, Ontario recently put the final touches on its web site. In addition to technology and product information, this site also allows for on-line purchasing of the company's products. You can visit the site at www.uniqrypt.com.
Nexsys Commtech International Inc. ("Nexsys") of Waterloo, Ontario is continuing the system integration work on their pilot installations in Waterloo and Cornwall, Ontario, and Fort Wayne, Indiana. This work is progressing well and the data gathered will allow the next phase of technology development to start shortly. This should result in a product roll-out in early 2000.
Our newest strategic partner, Med-Minder Enterprises Inc. ("Med-Minder") of Oakville, Ontario is in the process of fine tuning its proprietary system for the dispensing of medications. This product's ability to be utilized as a platform for drug compliance programs has resulted in serious interest from the health care industry. Med-Minder, together with its potential distribution partner, are engaged in focus group testing in a number of large Canadian cities.
Our subsidiary, Chessen U.V. Systems Inc. ("Chessen") located in Mississauga, Ontario, continues to develop markets for its products and is presently building PVD systems for delivery to clients in Portugal and Mexico.
In addition to its proprietary line of 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.
The current outstanding capital of ZTEST is 15,376,316 common shares.