Anitech's First Quarter Sales Improve By 35 Percent.TORONTO--(BUSINESS WIRE)--May 11, 1998--Anitech Enterprises (VSE See DOS/VSE. VSE - Virtual Storage Extended :ANI.) Anitech's sales for the first quarter of 1998 improved by 35 percent over the prior year reflecting growth of Anitech's PetNet microchip ID system for pets. First quarter sales were $330,953, an increase of $84,652 and first quarter losses dropped by 75 percent to $18,054. Depreciation and amortization expenses for the period were $19,328; and, cash flow continued to improve. "First quarter results continue the positive trend started in 1997. The number of pets microchipped at veterinary clinics increased by 17 percent over the same quarter last year, more animal shelters are making microchipping mandatory, and the Canadian Kennel Club Canadian Kennel Club the principal body for registration of purebred dogs in Canada. began ordering Anitech microchips for its purebred purebred progeny derived from at least several generations of animals of the same breed. purebred herds herds (or flocks) composed of purebred animals. Not necessarily registered animals. Distinct from crossbred herds. dog registry. In the livestock sector, Anitech's new DT-500 data collection technology was launched in February and has been very well received by meat processors. Anitech anticipates receiving initial orders this year and is identifying export markets. The price of a basic DT-500 system is about $125,000 plus ongoing maintenance fees," said Anitech President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Paul Brown For the politician, see Paul Brown (Georgia politician). Paul Eugene Brown (September 7, 1908 - August 5, 1991) was a coach in American football and a major figure in the development of the National Football League. . "Also, Anitech's growing cash reserves Cash reserves See: Cash investments cash reserves Investment funds that are held in short-term assets such as Treasury bills and certificates of deposit until more permanent investment opportunities are available. puts the Company in a strong position for future acquisitions," added Mr. Brown. Anitech is a leader in data collection for the animal industry. Anitech's PetNet microchip system dominates the Canadian pet market with a database of 280,000 pet owners, and, Anitech's new DT-500 data collection system for the livestock industry is a state-of-the-art system that represents a major improvement over existing systems. It facilitates faster production speeds, provides better tracking for disease and quality controls, and enables plants to meet the need for timely management and government reporting. Anitech Enterprises Inc. Per:Paul J. Brown, President and CEO -0- The Vancouver Stock Exchange Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). has neither approved nor disapproved of the information contained herein. CONTACT: Anitech Enterprises Inc. Gerry Kluwak, 416/605-4504 or Anitech Enterprises Inc. Paul J. Brown, 905/477-6950 |
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