Monday, May 14, 2007 11:38:00 AM
VANCOUVER, BC -- (MARKET WIRE) -- May 14, 2007 -- Braintech, Inc. (OTCBB: BRHI), a leading provider of Vision Guided Robotic ("VGR") software technologies, announced today that it has generated an operating profit for the three month period ended March 31, 2007.
Ted White, Braintech's Chief Financial Officer explained: "For the three month period ended March 31, 2007, we achieved an operating profit of $57,304 compared to an operating loss of $482,049 for the three month period ended March 31, 2006. Although not significant in terms of magnitude, it is very significant in that it marks the first time that operating revenues have exceeded operating expenses. It also is significant in that it marks another step in the development of Braintech from a pure research and development company to a continuously profitable corporation. For the three month period ended March 31, 2007, we reported non-operating expenses of $683,208 of which $643,968 were non-recurring financing expenses. For the three month period ended June 30, 2007, we expect that operating revenues and operating expenses will be nearly equal and that non-operating expenses will be approximately $40,000. We expect to generate a net income in each of the three month periods ended September 30, 2007 and December 31, 2007."
About Braintech: www.braintech.com
Disclaimer
Statements in this document that are not purely historical are forward-looking statements and reflect the current views of management with respect to future events and are subject to certain risks, uncertainties and assumptions. Forward-looking statements in this news release include the statement that Braintech is developing into a continuously profitable operation and the expectation that for the three months ended June 30, 2007 operating revenues and operating expenses will be nearly equal, that non-operating expenses will be approximately $40,000 and that the Company will generate a net income in each of the three month periods ended September 30, 2007 and December 31, 2007. It is important to note that the Company's actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties such as technical difficulties in developing the products; competition from other suppliers of similar products; pricing that may not be acceptable to potential markets; and many other known and unknown factors. Readers should also refer to the risk disclosures outlined in the Company's 10-KSB and 10-QSB Forms filed from time to time with the SEC.
Distributed by Filing Services Canada and retransmitted by Market Wire
Contact Information:
Owen Jones
Braintech Inc.
#102 - 930 W 1st Street
Vancouver, BC
V7P 3N4
(604) 988-6440 x 200
Email Contact
SOURCE: Braintech Inc.
http://www.marketwire.com/mw/release_html_b1?release_id=251899
Recent COWI News
- Form NT 10-Q - Notification of inability to timely file Form 10-Q or 10-QSB • Edgar (US Regulatory) • 05/15/2024 10:20:26 AM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 12/01/2023 09:20:45 PM
- Form NT 10-Q - Notification of inability to timely file Form 10-Q or 10-QSB • Edgar (US Regulatory) • 11/15/2023 09:47:41 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 10/27/2023 12:30:16 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/22/2023 07:13:47 PM
- Form NT 10-Q - Notification of inability to timely file Form 10-Q or 10-QSB • Edgar (US Regulatory) • 08/14/2023 08:00:20 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/07/2023 12:35:32 PM
- Form DEF 14C - Other definitive information statements • Edgar (US Regulatory) • 07/17/2023 02:06:52 PM
- Form PRE 14C - Other preliminary information statements • Edgar (US Regulatory) • 06/28/2023 06:46:02 PM
Avant Technologies Engages Wired4Tech to Evaluate the Performance of Next Generation AI Server Technology • AVAI • May 23, 2024 8:00 AM
Branded Legacy, Inc. Unveils Collaboration with Celebrity Tattoo Artist Kat Tat for New Tattoo Aftercare Product • BLEG • May 22, 2024 8:30 AM
"Defo's Morning Briefing" Set to Debut for "GreenliteTV" • GRNL • May 21, 2024 2:28 PM
North Bay Resources Announces 50/50 JV at Fran Gold Project, British Columbia; Initiates NI 43-101 Resources Estimate and Bulk Sample • NBRI • May 21, 2024 9:07 AM
Greenlite Ventures Inks Deal to Acquire No Limit Technology • GRNL • May 17, 2024 3:00 PM
Music Licensing, Inc. (OTC: SONG) Subsidiary Pro Music Rights Secures Final Judgment of $114,081.30 USD, Demonstrating Strength of Licensing Agreements • SONGD • May 17, 2024 11:00 AM