LEVIS, QUEBEC -- (Marketwired) -- 07/05/13 -- Nuvolt Corporation Inc. ("Nuvolt") (TSX VENTURE: NCO) announces the filling of its quarterly financial statements for the third quarter of the fiscal year 2012-2013, ended May 31, 2013.
"Nuvolt's turnover continues to increase, especially in the agriculture market in the U.S. It exceeds by nearly 5% the twelve-month period ended August 31, 2012." says Mr. Gilles Roy, Chief Executive Officer. "The backlog is well filled to start the last quarter of the year. This allows the Company to maintain its growth in the agriculture market, while pursuing efforts to conclude commercial agreements to increase sales of products intended to other markets, which are the ShipScan and the SmartScan Pro." concludes Mr. Roy.
-- Sales increased by 27% for the quarter and by 38.5% for the nine- month period of the fiscal year 2012-2013, as compared to the same periods of last fiscal year;-- Work completed and tests underway on the improvements to the alarms management of the SmartScan system;-- Notice of allowance received for a patent application in the U.S on the software part of the SmartScan technology.
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 were launched in September 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. There is no guarantee that the proposed private placement can be completed on the terms described in this press release. 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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